Breaking News
Rockcliff Files NI 43-101 Report on Indicated Resource Estimate for Rail and Closes Final Tranche of Offering
08:00 EST Tuesday, December 21, 2010
822,000 Tonnes at 3.04% Copper, 0.90% Zinc, 9.25g/t Silver, 0.66g/t Gold
Rail Deposit Remains Open in all Directions
Trading Symbol RCR: TSXV
TORONTO, Dec. 21 /CNW/ - Rockcliff Resources Inc. (RCR: TSXV) is pleased to announce a National Instrument (NI) 43-101 Technical Report has been completed for its Rail Deposit located in central Manitoba in Rockcliff's Snow Lake Project. The report entitled "Mineral Resource Evaluation, Rail Polymetallic Sulphide Deposit, Snow Lake, Manitoba", dated December 19, 2010 (the "Rail Deposit Report"), was prepared by Sébastien Bernier, M. Sc., P.Geo, and Dominic Chartier, P.Geo., Qualified Persons under National Instrument 43-101, on behalf of SRK Consulting (Canada) Inc. The Rail Deposit Report is available for viewing on www.sedar.com.
The Mineral Resource Statement prepared by SRK for the Rail Deposit is detailed below.
The Mineral Resource Statement for the Rail Deposit is reported at a cut-off grade of 2.0 percent copper. The statement includes metal grade for copper, zinc, gold and silver but not lead because this metal is present at near detection limits. The Mineral Resource Statement for the Rail Deposit is summarized in Table 1.
Table 1: Mineral Resource Statement*, Rail Polymetallic Sulphide Deposit,
Manitoba, SRK Consulting, November 4, 2010
| Resource Category |
Quantity |
Grade |
Contained |
| (tonnes) |
Cu (%) |
Zn (%) |
Au (g/t) |
Ag (g/t) |
Cu (pounds) |
Indicated
Inferred |
822,000
- |
3.04
- |
0.90
- |
0.66
- |
9.25
- |
55,090,000
- |
* Reported at a cut-off grade of 2.0 percent copper. Cut-off grade is based on copper price of US$3.00 per pound and a metallurgical recovery of eighty percent, without considering revenues from other metals. All figures rounded to reflect the relative accuracy of the estimates. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
The mineral resources are reported at a cut-off grade of 2.0 per cent copper to reflect "the reasonable prospects" for economic extraction. SRK considers the Rail Deposit to be amenable to extraction using underground mining methods. The Mineral Resources Statement for the Rail Deposit presented in Table 1 are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. The Indicated Mineral Resource for the Rail Deposit was classified according to the CIM Definition Standards for Mineral Resources and Mineral Reserves (December 2005) by Sebastien Bernier, P.Geo (APGO#1847), an appropriate independent person for the purpose of National Instrument 43-101. Mr. Bernier has reviewed the technical content of this news release. Reference is made to the press release dated November 4, 2010.
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, is responsible for the information in this press release.
Rockcliff has the exclusive right to earn a 100% interest in the Rail Property from Hudson Bay Exploration and Development Company Limited (HBED), a wholly owned subsidiary of HudBay Minerals Inc. (HBM: TSX). If Rockcliff earns its interest in the Rail Property, HBED will receive a 2% Net Smelter Return Royalty. If Rockcliff earns a 100% interest in the Rail Property, HBED then has the right to acquire up to a 65% interest in the Rail Property. Please refer to the News Release dated March 23, 2007 for further details.
