Rockcliff Intersects 16.1m Grading 3.5% Cueq including 3.5m Grading 5.2% Cueq
Large Buried Conductive Plate Discovered Below Talbot Deposit Main Lens
Toronto, ON – February 16, 2017 – Rockcliff Copper Corporation (“Rockcliff” or the “Company”) (TSX.V: RCU) (FRANKFURT: RO0, WKN: A142TR) is pleased to announce drill hole assay results from its on-going Phase 2 drill program on the Talbot Property, Manitoba. Additional geophysical resurveying of historical drill holes has discovered a conductive plate immediately below and down dip of the main lens of the Talbot Deposit and a surface Deep Penetrating ElectroMagnetic (DPEM) survey has discovered a second larger deeply buried conductive plate below the main lens. The Talbot Property forms part of Rockcliff’s Snow Lake Project and is strategically located within the prolific Flin Flon-Snow Lake Greenstone Belt Manitoba, Canada.
Ken Lapierre, President and CEO commented, “Drilling the main lens of the Talbot Deposit in an area void of drilling has identified excellent grades over thick intervals. Drilling will now focus on testing the North Lens Deep Conductive Plate, a recently discovered vertical dipping 300 metre by 600 metre sized geophysical target located below the Talbot Deposit north lens. Additional geophysics has discovered the Main Lens Conductive Plate, a new untested geophysical target below the main lens of the Talbot Deposit which could represent the down dip continuation of the main lens. Geophysics also discovered the West Talbot Deep Conductive Plate, a much deeper but larger flat lying geophysical target with dimensions of 1 kilometre by 1 kilometre. Since most of the larger mines in the camp have multiple stacked lenses that were initially identified as conductive plates, we remain greatly encouraged not only by the consistent high metal grades and increased size potential of the deposit but by the metal potential of the untested stacked conductive plates proximal to the deposit. Drilling will continue until winter break-up, testing the North Lens Deep Conductive Plate below the north lens of the deposit and the conductive plates below the north copper zone located 2.5 kilometres north of the Talbot Deposit.”
Completed drill hole information from its ongoing Phase 2 drill program is tabled below.
Cueq (Copper equivalent %)*
(m) = metres represents down the hole thickness as true thickness is not currently known, % = percentage, g/t = grams per tonne, *copper equivalent value used US$2.50/pound copper, US1300/ troy ounce gold, US$1.15/pound zinc and US$20 /per ounce silver, 100% metal recoveries were applied, copper equivalent calculation is: CuEq = Cu grade + ((Zn grade%/100 x Zn price) + (Au grade gpt x Au price/gram) + (Ag grade gpt x Ag price/gram))/Cu price x 100. The numbers may not add up due to rounding.
TB-017 was drilled at UTM NAD83 co-ordinates 458456E/5996987N, to a depth of 847 metres, along an azimuth of 285 degrees, and a dip of -70 degrees.
A preliminary image of the location of TB017 in the Talbot deposit main lens and the geophysical conductive plates to be drill tested in the current and subsequent drill programs are shown below.
3D Longitudinal Section of Talbot Deposit highlighting TB-017 and
Buried Untested Geophysical Plates below Deposit
The gold-rich Talbot copper deposit is defined as a stratabound, gold-rich Volcanogenic Massive Sulphide (VMS) copper deposit consisting of several multiple lenses of coarse grained to stringer to massive sulphides consisting of pyrite, chalcopyrite, sphalerite and pyrrhotite in a quartzofeldspathic gneiss. The depositional environment is similar to that of present and past producing base metal deposits of bi-modal volcaniclastic rocks in the Flin Flon – Snow Lake Greenstone Belt.
On February 4, 2016, Rockcliff announced on the Talbot Property an Inferred Mineral Resource as set out in the National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) technical report dated January 25, 2016 and titled “Technical Report on the Talbot Property, Manitoba, Canada” (the “Technical Report”), a copy of which is available on the Company’s SEDAR profile at www.sedar.com, in respect of an initial Mineral Resource Estimate prepared by Roscoe Postle Associates Inc. (“RPA”) for the Talbot Deposit located on the Talbot Property, central Manitoba.
The Inferred Mineral Resource Statement prepared by RPA for the gold-rich Talbot copper deposit is detailed below.
Mineral Resource Statement, Talbot Deposit, Manitoba, RPA, January 26, 2016
Talbot Main FW
1. CIM definitions were followed for the estimation of Mineral Resources. 2. Mineral resources are estimated at a cut-off grade of $140 Net Smelter Return (NSR) (equivalent to a copper NSR cut-off of 2.0%) using metal prices, estimated recoveries and offsite payments. 3. Mineral Resources are estimated using a long-term copper price of US$3.50 per pound, gold price of US$1450 per ounce, zinc price of US$1.25 per pound and silver price of US$22 per ounce. 4. An US$/C$ exchange rate of 1.18 was used. 5. A minimum mining width of 2 m was used. 6. The average bulk density is 3.2t per cubic meter. 7. Numbers may not add due to rounding. 8. Given the tonnage, grade and orientation of the deposit, RPA considers the Talbot Deposit to be reasonably amenable to extraction using underground mining methods. 9. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
Samples of half core are packaged and shipped directly from Rockcliff’s field office to TSL Laboratories (TSL), Saskatoon, Saskatchewan. TSL is a Canadian assay laboratory and is accredited under ISO/IEC 17025. Each bagged core sample is dried, crushed to 70% passing 10 mesh and a 250g pulp is pulverized to 95% passing 150 mesh for assaying. A 0.5g cut is taken from each pulp for base metal analysis and leached in a multi acid (total) digestion and then analyzed for copper, lead, zinc and silver by atomic absorption. Gold concentrations are determined by fire assay using a 30g charge followed by fire assay gravimetric and atomic absorption finish. Samples greater than an upper detection limit (3000 ppb) are reanalyzed using a 1 AT charge. Rockcliff inserted certified blanks and standards in the sample stream to ensure lab integrity.
Rockcliff can earn a 51% interest in the Talbot Property from Hudbay Minerals Inc. Please refer to the news release dated October 11, 2016 for specific points of the option agreement.
Please visit our website at www.rockcliffcoppercorp.com for additional information.
Please visit Rockcliff at the PDAC in the Investors Exchange at Booth #2816.
Ken Lapierre P.Geo., President and CEO of Rockcliff, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this press release.
About Rockcliff Copper Corporation
Rockcliff is a Canadian resource exploration company focused on the discovery, advancement and consolidation of the highest grade unmined metal deposits in the prolific Flin Flon – Snow Lake (FF-SL) greenstone belt specifically centered on Snow Lake, MB. The Snow Lake Project, totalling in excess of 45,000 collective hectares is located in and around the Snow Lake mining camp and hosts the highest grade unmined NI 43-101 copper deposits (the gold-rich Talbot copper deposit and the Rail copper deposit), the highest grade unmined historical zinc deposits (the Lon zinc deposit, the Bur zinc deposit and the Morgan zinc deposit), includes a high grade former lode gold producer (Laguna) and a Net Smelter Return Royalty (NSR) on the Tower property which includes the T-1 copper deposit in the FF-SL greenstone belt. Rockcliff also owns the near surface MacBride zinc deposit located north of Snow Lake near Leaf Rapids, Manitoba. Additionally, Rockcliff owns a zinc-silver rich NI 43-101 Resource (the Shihan deposit) in Ontario and a royalty on two gold properties in Colombia, South America.
Rockcliff is well funded with approximately CDN$2.0 million in its treasury and no debt.
For further information, please contact:
Rockcliff Copper Corporation
Ken Lapierre, P.Geo
President & CEO
Cell: (647) 678-3879
Off: (416) 644-1752
CHF Capital Markets
Cathy Hume, CEO
Phone: (416) 868-1079 ext.231
Cautionary Note Regarding Forward-Looking Statements: This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements.
All statements within, other than statements of historical fact, are to be considered forward looking. Although Rockcliff believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.
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