Rockcliff Copper Corporation Drills New Copper Discovery at Talbot
RPA Commences NI43-101 Resource Estimate on the Historical Talbot Deposit, 7,500m Drill Program Planned for 2016TORONTO, ONTARIO -- (Marketwired - Dec 2, 2015) - Rockcliff Copper Corporation ("Rockcliff" or the "Company") (TSX VENTURE:RCU) is pleased to announce a new copper discovery, the identification of a high grade copper corridor within the historic Talbot Deposit and an extension of the Talbot Deposit-north lens. The Company has now successfully completed its first phase 5,065m-10 hole drill program at its Talbot Property located in central Manitoba. Based on the success of historical drilling and Rockcliff's first phase drill program, Roscoe Postle and Associates (RPA) has been commissioned to complete a NI 43-101 Resource Estimate on the historic high grade Talbot Deposit. Rockcliff further announces plans for a 7,500m drill program at the Snow Lake Project in 2016 that will include drilling at its Talbot and Rail properties.
The underlying table outlines significant mineralization identified in the Company's first phase drill program on the Talbot Property. TB-001 was previously announced in a press release dated September 23, 2015.
| Hole # | From (m) | To (m) | Length (m) | Copper* Equivalent % | Copper % | Gold g/t | Zinc % | Silver g/t | Comments | ||
| TB-001 | 558.68 | 567.81 | 9.13 | 14.4 | 6.1 | 8.2 | 5.0 | 112.1 | Talbot Deposit (TD)-Main Lens | ||
| includes | 560.62 | 564.42 | 3.80 | 20.4 | 5.9 | 16.6 | 5.8 | 135.6 | |||
| TB-002 | 594.51 | 594.61 | 0.10 | 8.4 | 1.6 | 7.5 | 4.0 | 39.9 | gold-copper lens south of TD | ||
| TB-006 | 661.61 | 667.26 | 5.65 | 2.7 | 1.1 | 1.0 | 2.0 | 24.2 | TD-North Lens Extension | ||
| includes | 666.88 | 667.26 | 0.38 | 6.8 | 4.0 | 2.0 | 2.4 | 69.9 | |||
| TB-007 | 167.79 | 172.0 | 4.21 | 1.4 | 0.6 | 0.7 | 0.6 | 9.4 | TD-up plunge of North Lens | ||
| TB-008 | 336.44 | 337.97 | 1.53 | 0.6 | 0.6 | nsv | nsv | 2.2 | North Target mineralization | ||
| TB-009 | 199.80 | 203.46 | 3.66 | 1.5 | 1.4 | 0.1 | nsv | 3.9 | North Copper Zone Discovery | ||
| includes | 200.92 | 201.69 | 0.77 | 2.9 | 2.7 | 0.2 | nsv | 6.0 |
| TB-003, 04, 05 and 010 intersected anomalous VMS mineralization, (m) = metres represents down the hole thickness as true thickness has not been determined,% = percentage, g/t = grams per tonne, nsv = no significant values. *Copper Equivalent used US$2.5/pound copper, US1100/ounce gold, US$0.80/pound zinc and US$15/ounce silver, 100% metal recoveries were applied. Copper Equivalent calculation is: CuEq = Cu grade + (Zn grade%/100*2000 x Zn price) + (Au grade/32.15 x Au price) + (Ag grade/32.15 x Ag price)/Cu price/20. |
Please view the updated power point presentation at www.rockcliffcoppercorp.com for additional information and highlights of the first phase drill program including planned drilling for 2016.
Rockcliff's 2015 fall drill program included 10 holes totalling 5,065m, led to the discovery of the North Copper Zone, a copper rich zone located 2.5km north of the Talbot Deposit. The North Copper Zone and nearby geophysical anomalies now represents the second known area on the property associated with significant copper bearing mineralization. Additionally, the program identified a strongly conductive, high grade copper corridor within the Talbot Deposit-main lens and also identified an extension of the Talbot Deposit-north lens associated with a large conductive anomaly. As a result of the successful drill program and historic drill results at the historic Talbot Deposit, Rockcliff has commissioned RPA to complete an independent NI43-101 Resource Estimate on the historic Talbot Deposit.
NORTH COPPER ZONE DISCOVERY:
Rockcliff's first phase drill program discovered a Volcanogenic Massive Sulphide (VMS) Zone in drill hole TB-009, graded 1.5% CuEq (1.4% copper and 3.9g/t silver) across a down the hole thickness of 3.66m. Termed the North Copper Zone, mineralization consisted of local stringer to semi-massive to net texture pyrrhotite and chalcopyrite that extended locally into VMS altered hangingwall and footwall rocks. Down-hole geophysical surveys indicated that the copper mineralization intersected in TB-009 is located at the top edge of an untested, large, more conductive anomaly measuring 150m along strike by 350m down dip. The North Copper Zone is located approximately 2.5km north of the Talbot Deposit within an underexplored, one (1) km long airborne anomaly. Additional drilling in 2016 will be required to determine the extent and significance of this new discovery.
TALBOT DEPOSIT MAIN LENS-NEW HIGH GRADE COPPER CORRIDOR IDENTIFIED:
High grade VMS mineralization associated within the Talbot Deposit-main lens was identified in Rockcliff's drill hole TB-001 where a high grade drill intercept graded 14.4% CuEq (6.1% copper 8.2g/t gold, 5.0% zinc and 112.1g/t silver) across a down the hole thickness of 9.13m (previously announced on September 23) was intersected. Down-hole geophysics identified a strong conductive anomaly measuring 50m along strike and 500m down dip in the central area of the deposit where the anomaly was also intersected by two (2) historic holes. Historic drill hole's TLS-006 intersected 9.1% CuEq* (5.2% copper, 3.2g/t gold, 3.6% zinc and 53.1g/t silver) across a down the hole thickness of 2.94m and drill hole TSL-020 intersected 16.5% CuEq* (9.0% copper, 7.9g/t gold, 2.5% zinc and 132.9g/t silver) across a down the hole thickness of 12.35m. Additional drilling in 2016 along this newly identified high grade copper corridor could significantly add to the economic viability of the Talbot Deposit.
TALBOT DEPOSIT NORTH LENS-NEW EXTENSION NORTH OF DEPOSIT IDENTIFIED:
Rockcliff's drilling has identified a 75m extension of the Talbot Deposit-north lens, along strike to the north in drill hole TB-006 which graded 2.7% CuEq (1.1% copper, 1.0g/t gold, 2.0% zinc and 24.2g/t silver) across a down the hole thickness of 5.65m. Down-hole geophysics in TB-006 indicated that the deposit extension drill intercept is located at the south end of an untested north trending anomaly measuring 300m along strike x 150m down dip. Additional drilling in 2016 will identify the significance of this large untested anomaly along strike of the Talbot Deposit-north lens.
RPA COMMISSIONED TO COMPLETE NI43-101 RESOURCE ESTIMATE:
As a result of the historic drilling and Rockcliff's successful first phase drill program, the company commissioned RPA to complete a NI43-101 Resource Estimate on the historic Talbot Deposit. The report is expected to be completed the first quarter of 2016 or earlier.
ROCKCLIFF PLANS 7,500M DRILL PROGRAM FOR 2016:
Rockcliff is pleased to announce that a second phase 7,500m drill program is planned for 2016 on several of the company's properties within the Flin Flon-Snow Lake greenstone belt. Priority will be on the Talbot Property where a second phase drill program will follow-up on the encouraging results identified in 2015. The Talbot drill program will focus on expanding the Talbot deposit in grade and size, determining the significance of the North Copper Zone Discovery at the North Target and drill test the Central Target (located just south of the Talbot Deposit) where a significant untested ZTEM airborne anomaly was identified by HudBay Minerals in prior exploration programs. Additional drilling will be at the Rail Property following drilling at Talbot.
Please view the updated power point presentation at www.rockcliffcoppercorp.com for additional information and highlights of the first phase drill program including the down-hole geophysics completed in this program and planned drilling for 2016.
Technical information of Rockcliff's First Phase Drill Program are outlined below.
| Drill Hole | NAD83 UTM-Northing | NAD83 UTM-Easting | Azimuth | Dip | Length of Hole | |||||
| TB001 | 5,997,012 | 458,319 | 285 | 70 | 772 | |||||
| TB002 | 5,996,936 | 458,301 | 285 | 70 | 713 | |||||
| TB003 | 5,996,895 | 458,187 | 285 | 67 | 560 | |||||
| TB004 | 5,997,521 | 458,258 | 285 | 70 | 560 | |||||
| TB005 | 5,997,495 | 458,356 | 285 | 70 | 515 | |||||
| TB006 | 5,997,542 | 458,566 | 285 | 70 | 707 | |||||
| TB007 | 5,997,584 | 458,217 | 285 | 70 | 218 | |||||
| TB008 | 5,999,200 | 457,550 | 295 | 70 | 377 | |||||
| TB009 | 5,999,550 | 457,600 | 295 | 70 | 395 | |||||
| TB010 | 5,999,175 | 457,675 | 295 | 65 | 500 |
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 an 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 Hudson Bay Exploration and Development Company Limited (HBED), a wholly owned subsidiary of HudBay Minerals Inc. by spending $6,120,000 on exploration expenditures over six (6) years. The first and second year expenditure commitments are $200K (completed) and $400K (completed) respectively with escalating expenditure commitments over the remaining years. The agreement provides that once Rockcliff has earned its 51% interest in the Talbot Property, Rockcliff (51%) and Hudbay (49%) will form a joint venture and Rockcliff will be the Operator of the joint venture. Provided Hudbay contributes its pro rata (49%) share of expenditures under the joint venture, it will have two (2) years from the date Rockcliff earns its 51% interest to purchase an additional 2% interest for a cash payment of $240,000 and either incurring expenditures over a two (2) year period equivalent to 2% of the joint venture expenditures made since the formation of the joint venture or paying such amount to Rockcliff in cash. If Hudbay acquires the additional 2%, it will become the Operator of the joint venture. Once a positive Feasibility Study has been completed and mining development has commenced, the Operator can increase its interest in the Talbot Property to 65% by paying the other participant a cash payment equal to the pro rata share of expenditures made by the other participant to reduce it to a 35% interest. The Operator would then fund the costs of development and will be reimbursed for 100% of the development costs including the 35% interest of the non-operator. Once the costs of development have been repaid, the parties will be reimbursed their pro rata share of expenditures made prior to the date development commences before net profits are distributed pro rata (please see Press Release dated April 23, 2014 and filed on SEDAR under Rockcliff Resources for additional information).
About Rockcliff Copper Corporation
Rockcliff Copper Corporation is a Canadian resource exploration company focused on discovery and resource expansion of its high-quality mineral properties at its Snow Lake Project. On October 14, 2015, Rockcliff Copper Corporation changed its name from Solvista Gold Corp. (Solvista on June 18, 2015, merged with Canadian explorer Rockcliff Resources Inc.). Rockcliff Copper Corporation controls the Snow Lake Project in central Manitoba, totalling in excess of 35,000 hectares. The project includes one (1) VMS high grade copper rich NI 43-101 Resource (the Rail Deposit), two (2) historic high grade VMS copper deposits (the Lon Deposit and the Talbot), a net smelter return royalty on the Tower Property which hosts the T-1 Copper Deposit, numerous properties with untested geophysical anomalies and several additional properties with VMS potential ((Freebeth (optioned to HudBay), Dickstone North and Tramping)). Rockcliff also owns a zinc-silver rich NI 43-101 Resource (the Shihan Deposit) in Ontario. Rockcliff controls two gold properties; the Caramanta and Guadalupe properties located in Colombia, South America.
Rockcliff is well funded and has no debt.
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.
Cautionary Note Regarding Forward-Looking Statements: This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe Rockcliff's future plans, objectives or goals, including words to the effect that Rockcliff or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Rockcliff, Rockcliff provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information.
Forward looking information in this news release includes, but is not limited to, Rockcliff's objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in Rockcliff's public documents filed on SEDAR. Although Rockcliff believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Rockcliff disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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.
Contact
Rockcliff Copper Corporation
Ken Lapierre, P.Geo, President & CEO
(416) 644-1752; cell (647) 678-3879
klapierre@rockcliffcoppercorp.com
