Rockhaven files new report on Yukon gold-silver project

Rockhaven geologists logging diamond drill core for the Klaza Project. Source: Rockhaven Resources Ltd.

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Rockhaven geologists logging diamond drill core for the Klaza Project. Source: Rockhaven Resources Ltd.

Rockhaven Resources Ltd. RK-TSXV] has filed a new NI 43-101-compliant technical report for its 100%-owned Klaza gold-silver property located in the Dawson Range Gold Belt in the southern Yukon.

The report discloses the results of an updated mineral resource estimate incorporating 2016 and 2017 drilling results and additional metallurgical studies. The report is an update on mineral resources and metallurgical results reported in a preliminary economic assessment in February, 2016.

The latest report has focused on mineral resources that are potentially mineable by open pit and underground methods for the BRX and Klaza zones.

It has been filed after the company recently said exploration drilling has resulted in the discovery of multiple new mineralized structures on the Klaza property.

A total of 15,922 metres in 96 holes were completed during the 2017 exploration program. On December 4, 2017 the company issued a press release containing results of the final seven holes as well as from other exploration activities conducted during the reconnaissance phase of the program.

The company said the program successfully identified seven new mineralized zones and a number of geochemical and geophysical anomalies which, it said, are priority targets for follow-up drilling in 2018.

The Klaza project is host to one of the highest grade gold deposits ever discovered in the Yukon.

It is estimated to contain an indicated resource of 4.45 million tonnes, containing 686,000 ounces of gold, 14 million ounces of silver (grading 4.8 g/t gold and 98 g/t silver), or 907,000 ounces of gold equivalent (grading 6.3 g/t gold equivalent).

On top of that is an inferred resource of 5.71 million tonnes, containing 507,000 ounces gold, and 13.9 million ounces of silver (grading 2.8 g/t gold and 76 g/t silver) or 725,000 ounces of gold equivalent (grading 3.9 g/t gold equivalent).

The company has spent $30 million on exploration on the property to date, completing over 94,400 metres of diamond drilling. Advanced metallurgical, engineering and permitting studies have already commenced to advance the Klaza project towards production.

The results of a preliminary economic assessment suggest that the project has good economic potential and warrants further study.

For example, the company has been advised to conduct further drilling on the BRX East and Eastern Zones in order to sufficiently increase the drill hole density to enable completion of the mineral resource estimate.

Other recommendations include conducting exploration diamond drilling beneath and along strike of prospective targets identified by trenching and diamond drilling.

In a December 4, 2017, press release, the company said new mineralized veins were discovered in a single fence completed north of the current resource areas, returning 1.16 g/t gold and 18.7 g/t silver over 10.12 metres, 12.60 g/t gold and 312 g/t silver over 46 metres, 9.43 g/t gold and 180 g/t silver over 0.86 metres and 5.63 g/t gold tonne and 91.4 g/t silver over 0.94 metres.

Trenching and prospecting samples collected at the Victoria Target southeast of the newly discovered veins returned a chip sample that assayed 4.95 g/t gold and 135 g/t silver over 1.5 metres and rock samples with peak values of 35.3 g/t gold and 1,145 g/t silver.

Rockhaven shares were unchanged at 15.5 cents on Friday. The 52-week range is 18.5 cents and 12 cents.

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