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Message: Rockcliff Completes Winter Drill Program at Tower Exceeds Expenditure
Commitment to Earn 70% Interest at Tower
Trading Symbol RCR: TSXV
TORONTO, March 19, 2014 /CNW/ - Rockcliff Resources Inc. ("Rockcliff") (TSXV: RCR) has completed a winter drill program completing three (3) holes totalling 1046m on the Tower Property, central Manitoba. The main focus of the drill program was to test one of four flanking conductive DPEM (Deep Penetrating Electro Magnetic) anomalies located near the high grade T-1 Copper Deposit. Drilling successfully identified semi massive to massive sulphide lenses up to five (5) meters thick. Mineralization consisted of sporadic anomalous copper, zinc, gold and silver values. A down hole geophysical survey identified a new off hole anomaly below the semi massive to massive sulphide lenses. The off hole anomaly and remaining three (3) DPEM anomalies represent viable VMS style targets worthy of follow-up geophysics and drilling.
Also, Rockcliff is pleased to announce it has now exceeded its final $2.0M expenditure requirement to earn an additional 20% interest in the Tower Property. Subject to review by its joint venture partner, Pure Nickel Inc., and payment of the $30,000 option payment due on March 26, 2014, Rockcliff will control a 70% interest in the property. An underlying 2% NSR on the property is held by Xstrata Nickel, of which half can be purchased for $1,000,000. The property hosts the high grade T-1 Copper Deposit (see below) with significant credits in zinc, gold and silver and is strategically located beside a major paved all season highway and two (2) active power lines.
Please view www.rockcliffresources.com for additional information on Rockcliff's Snow Lake Project including the Tower Property.
Outlined below is the National Instrument (NI) 43-101 Mineral Resource Statement, T-1 Copper Deposit, Manitoba, completed by Caracle Creek International Consulting Inc., dated December 2, 2012. The deposit remains open in all directions.
|Resource Category||Tonnes||Cu (%)||Zn (%)||Ag (g/t)||Au (g/t)||Contained Pounds-Cu|
- CIM definitions were followed for the estimation of mineral resources.
- Mineral resources are estimated at a Cu cut-off of 0.5%.
- Cut-off grade was based on a copper price of US$3.63 per pound.
- Given the tonnage, grade and orientation of the deposit, Caracle Creek considers the T-1 Copper Deposit to be reasonably amenable to extraction using underground mining methods.
- Specific Gravity measurements were taken on a portion of the samples and where actual measurements were not available an average of 3.00 was used.
- Mineral resources are not mineral reserves and do not have demonstrated economic viability.
- The report entitled "Independent Technical Report, Tower Property, Grand Rapids, Manitoba" dated January 20, 2013 (the "Tower Deposit Report") was prepared by Zsuzsanna Magyarosi, Julie Selway, Jason Baker and Julie Palich, independent qualified persons under NI 43-101, for Caracle Creek International Consulting Inc. (Caracle Creek).
Ken Lapierre, P.Geo., President & CEO of Rockcliff Resources Inc., is a Qualified Person under the definition of National Instrument 43-101. Mr. Lapierre has reviewed and approved the technical information in this press release.
Rockcliff Resources Inc.
Rockcliff Resources Inc. is a Canadian resource exploration company focused on discovery and resource growth of its high-quality mineral properties at its Snow Lake Project. Rockcliff presently controls the Snow Lake Project in central Manitoba, totalling in excess of 400 km2. The project includes two VMS high grade copper rich NI 43-101 Resources (Rail and T-1 Copper Deposits), one historic VMS copper deposit (Lon), the T-2 Copper Zone (Tower), numerous untested geophysical anomalies and several additional properties with VMS potential (Freebeth, Dickstone North). Rockcliff also owns a zinc-silver rich NI 43-101 Resource (Shihan) in Ontario.
Additional information can be viewed at www.rockcliffresources.com.
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Rockcliff undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE ROCKCLIFF RESOURCES INC.
Rockcliff Resources Inc.
Ken Lapierre P.Geo.
President & CEO
tel: (416) 644-1752 cell: (647) 678-3879
Rockcliff New Address:
520-141 Adelaide St. W.
Toronto, ON M5H 3L5
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