Rockcliff Metals Drilling Intersects Visible Gold at Laguna Gold Property
TSX VENTURE: RCLF
Additional Quartz Veins Discovered
TORONTO, ON / ACCESSWIRE / January 9, 2019 / Rockcliff Metals Corporation ("Rockcliff" or the "Company")(TSX.V:RCLF) (FRANKFURT: RO0, WKN: A2H60G) is pleased to announce that a first phase drill program has been completed on the Company's high-grade Laguna Gold Property located in Snow Lake, Manitoba. The Laguna Gold Property was last drilled in 1944 and hosts the past producing Rex-Laguna mine that was Manitoba's first and highest-grade gold mine.
Rockcliff's President & CEO Ken Lapierre stated: "We look forward to the assay results from the first drill program completed on the property in over 70 years. The drill program not only identified depth extents of several historical gold bearing surface quartz veins − it also discovered new quartz veins with visible gold. Several holes were extended well beyond their original target depths as mineralized quartz veins and surrounding mineralized host rock were intersected at depths of over 500 metres. Exploration will continue in 2019."
See Figure 1 on the following page highlighting Rockcliff's 5 district-sized Snow Lake gold properties including the Laguna Gold Property.
Laguna Reconnaissance Drill Program
The purpose of the drill program was to determine if known historical gold bearing quartz veins had depth potential and to discover additional auriferous mineralization. A total of six widely spaced holes totalling 2,552 metres were drilled across a strike length of 2,115 metres within the six-kilometre-long Laguna Gold Mine Trend. All holes intersected mineralized quartz veins and mineralized tuffaceous and porphyritic host rock. Several holes discovered new mineralized targets for future testing. Two of the six holes intersected very fine-grained flecks of visible gold within several mineralized quartz veins. Pending assay results in the coming weeks will be announced once all samples are verified.
The Laguna Gold Property
The Laguna Gold Property hosts the Rex-Laguna gold mine, Manitoba's first and highest-grade historic gold mine located within the Snow Lake Gold camp. The camp is located within the Flin Flon-Snow Lake greenstone belt, a belt known originally for its high-grade gold mines and now for its high-grade base metal mines. Historical, intermittent gold mining at Rex-Laguna, between 1916 and 1939 produced over 60,000 ounces of gold grading 18.7 g/t. The Laguna Gold Property includes 28 contiguous mining claims totalling 3,501 hectares, covering a minimum of 6.0 kilometres of prospective strike length of the Laguna Gold Mine Trend.
The gold mineralization on the Laguna Gold Property is controlled by thrust faults attributed to the major regional Crowduck Bay Fault which crosses the entire length of the Laguna Gold Property. The known gold-rich quartz veins along the northwest limb of the Herb Lake Syncline typically occur where the faults intersect quartz-feldspar and biotite porphyry stocks that intrude Missi Group sedimentary and volcanic rocks. Quartz, iron carbonate-albite-sericite alteration commonly overprints peak regional metamorphic assemblages within gold-bearing vein margins. Mineralization in quartz veins and surrounding tuffaceous and porphyritic wall rock consists of pyrite, arsenopyrite, chalcopyrite, sphalerite, galena and pyrrhotite. Native gold is associated within and along the margins of quartz veins.
Figure 1 - Rockcliff's 5 district-sized gold properties in the Snow Lake area, including the Laguna Gold Property.
Definitive Option Agreement (DOA) for Laguna and Lucky Jack Gold Properties
The main terms of the DOA, dated July 19, 2018, provide Kinross with the right to earn a 70% interest in both properties by spending a minimum of C$5.5M in exploration expenditures over six years. Kinross is committed in the first and second year to aggregate minimum expenditures totalling $1,250,000.
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 Metals Corporation
Rockcliff is a well-funded Canadian resource exploration company focused on base metals, gold and royalties in the Snow Lake area of Manitoba. Rockcliff is the largest junior explorer in the Flin Flon-Snow Lake greenstone belt and its extensive portfolio of properties totals over 2,000 square kilometres. It includes 8 of the highest-grade undeveloped base metal deposits and 5 lode-gold properties including the Rex-Laguna gold mine, Manitoba's first and highest-grade historic gold mine.
Please access the Company's website at www.rockcliffmetals.com for additional information on Rockcliff's sizeable base metal and gold property portfolio in the Flin Flon-Snow Lake greenstone belt.
For further information, please contact:
Rockcliff Metals Corporation
CHF Capital Markets
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 contained in this news release, 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 a guarantee of future performance and actual results or developments may differ materially from those in the forward-looking statements.
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