Rockcliff Metals Identifies Multiple VMS Targets at the SLS #2 Property and Strengthens Land Position at Snow Lake, Manitoba
TSX VENTURE: RCLF
TORONTO, ON / ACCESSWIRE / January 15, 2019 / Rockcliff Metals Corporation ("Rockcliff" or the "Company") (TSX-V: RCLF) (FRANKFURT: RO0, WKN: A2H60G) announced today the identification of multiple Volcanogenic Massive Sulphide ("VMS") targets on the SLS #2 Property, and has acquired through map staking a 100% interest in two immediately adjacent land packages totalling 174,379 hectares. Rockcliff is the largest junior landholder in the Flin Flon-Snow Lake greenstone belt ("Belt") which is the largest Paleoproterozoic VMS district (copper, gold, zinc, silver) in the world and also contains gold mines and deposits.
Rockcliff's President & CEO Ken Lapierre stated: "With the addition of these large exploration properties, Rockcliff is now well positioned in an underexplored part of a world-class VMS Belt buried below a thin limestone cover. Rockcliff now controls almost 3,000 square kilometres of continuous underexplored geology in the area with a significant VMS discovery potential. Rockcliff will explore and advance this area of the Belt and will focus on identifying priority 1 VMS targets for the purpose of drill testing. Additional information on our exploration efforts in this area will be forthcoming when our compilation efforts are complete."
Please review the image on the following page which highlights the strategic location of all of Rockcliff's extensive property portfolio including the large district-sized newly acquired SLS #3 and SLS #4 properties and the immediately adjacent SLS #1 and SLS #2 properties.
The Newly Acquired SLS #3 and SLS #4 Properties
The SLS #3 and SLS #4 properties host 7 Mineral Exploration Licenses (MEL) totalling over 174,379 hectares and are located in an area termed the Snow Lake South Emerging Mining Camp. The SLS #3 and SLS #4 properties strategically cover an underexplored area hosting the southeast extension of the world-class and prolific greenstone belt which is home to over 30 VMS mines and 10 gold mines, the majority of which have been discovered north of the Phanerozoic limestone cover. The SLS #3 and SLS #4 properties are located south of this cover, where prospective greenstone occurs under a thin layer of limestone that progressively reaches up to 100 metres thick. Though this cover has impeded earlier exploration efforts, modern scientific advances in geophysical techniques have allowed a "window effect" through the limestone so potential VMS targets can be identified.
At the SLS # 2 Property, an exhaustive data compilation effort was completed of all available public geophysical datasets including GSC Airborne Magnetics, GSC Gravity, and high resolution SPECTRUM airborne surveys. A litho-structural interpretation of the entire area was undertaken including a detailed analysis of several nearby VMS deposits. The aim of these studies was to provide a better understanding of the litho-structural environment under the limestone cover that could be associated with VMS mineralization and to make recommendations for areas which could be prospective for VMS discovery. Recent analysis of gravity, magnetics and electromagnetics led to the identification of eight separate high-priority target areas within the SLS #2 Property and was the basis for acquisition of the immediately adjacent SLS #3 and SLS #4 properties.
Required Expenditures Moving Forward on the SLS Properties
Rockcliff now controls a 100% interest in the SLS #1 through to SLS #4 properties, a land package south of the cover, totalling almost 3,000 square kilometres with no underlying royalties. It has unfettered access to explore and discover metals within the property limits. Expenditure requirements for Mineral Exploration Licences are defined by the Province of Manitoba within the Mines and Minerals Act. These expenditures must be completed and submitted annually to the Manitoba Government to maintain the 4 SLS properties in good standing. The total first year expenditure commitment is $361,723.
Figure 1: Rockcliff's Complete Property Portfolio (in purple) Including the Newly Acquired SLS #3 Property and SLS #4 Property Immediately Adjacent to the SLS #1 Property and SLS #2 Property
About Rockcliff Metals Corporation
Rockcliff is a Canadian resource exploration company focused on base metals, gold and royalties in the Snow Lake area of Manitoba, Canada. Rockcliff is the largest junior landholder in the Flin Flon-Snow Lake greenstone belt which is home to the largest Paleoproterozoic volcanic-hosted massive sulphide (VMS) district (copper, gold, zinc, silver) in the world and also contains gold mines and deposits. Its extensive portfolio of properties totals over 3,700 square kilometres. It includes eight of the highest-grade undeveloped VMS deposits and 5 lode-gold properties including the historic Rex-Laguna gold mine, Manitoba's first and highest-grade gold mine.
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 guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements.
Neither the 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 news release.