Rockcliff Commences Drilling at Former Dickstone Copper Mine
DPEM Geophysical Survey Continues at the Tower Property
TORONTO, ONTARIO -- (Marketwire) -- 02/14/13 -- Rockcliff Resources
Inc. (TSX VENTURE:RCR) is pleased to announce that its winter drill
program has commenced at the former Dickstone Copper Mine. The
untested drill target is interpreted as a large buried conductive
anomaly beneath the existing mine workings. Also, at the Tower
Property, a DPEM geophysical survey is being completed after which
drilling will commence. Both properties are part of Rockcliff's Snow
Lake Project located within central Manitoba and hosted within the
Flin Flon-Snow Lake greenstone belt; the largest Paleoproterozoic VMS
district in the world.
At Dickstone, the buried conductive anomaly measures 250m wide by
800m long and is located below the existing mine workings. Last
year's drill hole RDS12-002 intersected the bottom edge of the
anomaly and intersected 2.7% copper, 0.4g/t gold, 0.3% zinc, 8.6g/t
silver across 2.5m.
At Tower, DPEM geophysics is concentrating on an area 200m east of
the previously announced NI 43-101 T-1 Copper Deposit where last
year's drill program discovered the T-2 Copper Zone. Hole TP12-025
intersected 2.44% copper, 0.7g/t gold, 0.3% zinc, 18.2g/t silver
across 4.0m including 3.3% copper, 0.8g/t gold, 24.6g/t silver, 0.4%
zinc across 2.0m in a strongly VMS altered bimodal rock package. The
zone appears to be located at the very south edge of a potential
+500m long untested DPEM geophysical anomaly. Please refer to the
press releases dated December 6, 2012 and January 22, 2013 or access
www.rockcliffresources.com for more information on the high grade NI
43-101 resource of the T-1 Copper Deposit.
Rockcliff has the exclusive right to earn a 100% interest in the
Dickstone Property from Xstrata Copper Canada, a division of Xstrata
Canada Corporation (Xstrata). Rockcliff will be required to incur
aggregate exploration expenditures totaling $3,500,000 over four
years. If Rockcliff earns a 100% interest in the Dickstone Property,
Xstrata then has a right to acquire up to a 70% interest in the
Dickstone Property. Please refer to the press release dated February
22, 2011 for further details.
Pursuant to an exploration and option agreement with Pure Nickel
Inc., to earn a 70% interest in the property, Rockcliff must pay
$150,000 in incremental payments and is required to incur aggregate
exploration expenditures totalling $4,000,000.
On April 19, 2012, Rockcliff announced that it had exercised the
option to earn its 50% interest in the Tower Property by spending
$2,000,000 on exploration expenditures and paying $90,000 to Pure
Nickel Inc. Under the terms of the original option agreement with
Pure Nickel, a joint venture is to be formed once Rockcliff earns its
50% interest. The parties are negotiating the terms of joint venture
agreement. Rockcliff is continuing to earn an additional 20% in the
property by spending an additional $2,000,000 (approximately
$1,300,000 of which has been spent to date) in exploration
expenditures and paying a total of $60,000 over the next 2 years.
Once completed, Rockcliff will control a 70% interest in the Tower
Property. An underlying 2% NSR on the property is held by Xstrata
Nickel, of which half can be purchased for $1,000,000.
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
analyses 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 an atomic absorption finish. Samples greater than upper
detection limit (3000 ppb) are reanalyzed using fire assay
gravimetric using a 1 AT charge. Rockcliff inserted certified blanks
and standards in the sample stream to ensure lab integrity.
The information in this news release has been reviewed and approved
by Ken Lapierre P.Geo., President and CEO of Rockcliff Resources
Inc., a Qualified Person in accordance with Canadian regulatory
requirements as set out in NI 43-101.
For more information please visit our website at
Rockcliff Resources Inc.
Rockcliff Resources Inc. is a Canadian resource exploration company
focused on discovery and advancement of its high-quality mineral
properties at its Snow Lake Project. Rockcliff presently controls the
Snow Lake Project totalling in excess of 400 km2. The project
includes two VMS copper rich NI 43-101 Resources (Rail and T-1 Copper
Deposit), one former copper rich VMS mine (Dickstone), one historic
VMS copper deposit (Lon) and the T-2 Copper Zone (Tower). Rockcliff
also controls a zinc-silver rich NI 43-101 Resource (Shihan) and a
precious metal property including one former gold mine (Century
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
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.
Rockcliff Resources Inc.
Ken Lapierre P.Geo.
President & CEO
(416) 863-9800 or (647) 678-3879
Cor Capital Inc
(647) 500-8223 direct, (877) 308-8223
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