Rockcliff reports major resource expansion at Rail Project
Rockcliff Metals Corp. [RCLF-CSE; SWZF-OTC] has filed a NI 43-101 technical report titled Technical Report and Updated Mineral Resource Estimate of the Rail Project, Manitoba, Canada prepared by P&E Mining Consultants Inc. The Rail property is part of the company’s Manitoba property portfolio and is located within the prolific Flin Flon-Snow Lake greenstone belt. Highlights of the differences in the technical report compared with the previous mineral resource estimate include:
Indicated mineral resource tonnes increased by 42% (1.17 million tonnes versus 820,000 tonnes).
Indicated contained copper increased by 27% (70.2 million pounds versus 55.1 million lb).
Inferred mineral resource tonnes of 730,000 tonnes at 4.09% copper equivalent containing 50.0 million lbs of copper.
Indicated contained gold increased by 72% (30,000 ounces versus 17,400 oz).
Indicated contained zinc increased by 34% (22.0 million lbs versus 16.3 million lbs).
Indicated contained silver increased by 37% (334,300 oz versus 243,300 oz).
Alistair Ross, President and CEO, said: “The reason for targeting the Rail deposit in our overall drill strategy was to identify a third possible mine alternative in addition to the Tower and Talbot deposits. Our drilling increased the indicated tonnes by nearly 40% and added 70 million lbs of copper. Additionally, we added in the inferred category 730,000 tonnes and 50 million pounds of copper. This increase in tonnage, pounds of copper and resource confidence on the Rail deposit is a truly exciting result and will be an important part of our Preliminary Economic Assessment currently under way. With the deposit still open along strike to the south and at depth we look forward to exploring the potential for further growth of the existing Rail deposit in 2020.”
Rockcliff is well-financed with a fully functional over 1,000-tonne-per-day leased processing and tailings facility as well as several advance-staged, high-grade copper- and zinc-dominant VMS (volcanogenic massive sulphide) deposits in the Snow Lake area of central Manitoba. The company is a major landholder in the Flin Flon-Snow Lake greenstone belt. The company’s extensive portfolio of properties totals over 4,500 km2 and includes eight of the highest-grade, undeveloped VMS deposits in the belt.