Rockcliff Metals (RCLF-Cse) Initiates Rail Property Drill Program and Receives $300,000 Grant from Manitoba Mineral Development Fund
Apr 8, '21 - NR
Rockcliff Metals is pleased to announce a 6 hole, 1,800 metre drill program has commenced at its 100% owned Rail Property that will be subsidized by a $300,000 grant from the Manitoba Mineral Development Fund ("MMDF"). The drill program is designed to test 2 potential volcanogenic massive sulphide ("VMS") targets south of the Rail Deposit. The Rail Property is part of the Company's recent Preliminary Economic Assessment ("PEA") published January 25, 2021. The PEA envisioned the development of the Tower high-grade copper deposit in parallel with the refurbishment of the leased Bucko mill, followed by the development of the copper-rich Rail Deposit. The PEA results indicated a post-tax NPV8 of $69 million with an IRR of 29%. Tower is located approximately 460 km northwest of Winnipeg and 130 km southwest of the Bucko mill, and Rail is 38 km southwest of Snow Lake and 185 km to the west of the mill.
Highlights of the $300,000 MMDF Grant:
Awarded by MMDF, the grant has been approved to help subsidize a diamond drill program on the Rail Property
The MMDF mandate is to jump-start mineral exploration and economic development Province-wide to create new opportunities and capitalize on existing infrastructure
The focus of the Rail drill program is to test geophysical VMS-type anomalies south of the existing Rail Deposit with a focus on opportunities for significant deposit expansion at the Rail Property
"We are pleased to announce the commencement of an important drill program exploring for a new VMS discovery at the Rail Property and the receipt of grant support from the Manitoba Government. A program such as the MMDF is a great incentive and highlights that the Manitoba Government is aligned with our industry and is willing to assist in discovery and mine development in the Province of Manitoba. We look forward to sharing the results of this Rail drill program when completed as we search for additional VMS mineralization near our Rail Deposit.," stated Alistair Ross, President and CEO.
The MMDF was launched by the Manitoba government in August 2020 with the specific goal of jump-starting mineral and economic development initiatives throughout the province. The MMDF aims to support new economic development opportunities that capitalize on existing assets across Manitoba.
About Rockcliff Metals Corporation
Rockcliff is a Canadian resource development and exploration company, with a +1,000 tonne per day leased processing and tailings facility as well as several advanced-stage, high-grade copper and zinc dominant VMS deposits in the Snow Lake area of central Manitoba, Canada. The Company is a major landholder in the largest Paleoproterozoic VMS district in the world, hosting high grade mines and deposits containing copper, zinc, gold and silver. The Company's extensive portfolio of properties totals approximately 4,500 square kilometres and includes seven of the highest-grade, undeveloped VMS deposits in the Flin Flon -Snow Lake Greenstone Belt.
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For further information, please contact:
Rockcliff Metals Corporation
Alistair Ross
President & CEO
Cell: (249) 805-9020
contact@rockcliffmetals.com |
