Monday 27th February 2017

Resource Clips

Posts tagged ‘gold’

Golden Dawn Minerals releases silver-gold-polymetallic assays from historic Greenwood camp

February 24th, 2017

by Greg Klein | February 24, 2017

Underground drilling delivered the highest silver and gold assays so far from the Skomac vein system at the former May Mac mine, Golden Dawn Minerals TSXV:GOM reported February 23. With noteworthy lead and zinc numbers as well, the results come from one of the past-producers the company intends to revive at its Greenwood portfolio in southern British Columbia. The assays reflect nine of this year’s 10 May Mac holes totalling 1,320 metres, while results are pending for the tenth hole. Along with nine holes sunk late last year and released in mid-January, the work currently totals 2,125 metres.

All 19 holes hit the Skomac vein system, showing mineralization continues along the principal vein from the #6 level, passing the #7 level. Parallel veins also revealed mineralization. Some highlights include:

Hole MU17-01

  • 235 g/t silver, 2.07 g/t gold, 0.8% lead, 1.4% zinc and 0.2% copper over 1.56 metres, starting at 32.05 metres in downhole depth


  • 231.2 g/t silver, 0.51 g/t gold, 5.9% lead, 6.4% zinc and 0.3% copper over 1.92 metres, starting at 59.44 metres
Golden Dawn Minerals releases silver-gold-polymetallic assays from historic Greenwood camp

Golden Dawn plans additional underground
drilling and a bulk sample at the former May Mac mine.


  • 177 g/t silver, 7.91 g/t gold, 0.5% lead, 0.4% zinc and 0.1% copper over 1.05 metres, starting at 32.67 metres


  • 35.1 g/t silver, 6.32 g/t gold, 0.3% lead, 0.6% zinc and 0.1% copper over 1.36 metres, starting at 224.82 metres
  • (including 79.5 g/t silver, 14.55 g/t gold, 0.6% lead, 0.3% zinc and 0.1% copper over 0.46 metres)


  • 371 g/t silver, 8.86 g/t gold, 0.7% lead and 0.2% copper over 0.5 metres, starting at 62.7 metres


  • 559.4 g/t silver, 1.27 g/t gold, 0.2% lead, 2.1% zinc and 0.1% copper over 2.06 metres, starting at 52.8 metres
  • (including 1,935 g/t silver, 4.21 g/t gold, 0.7% lead, 7.1% zinc and 0.2% copper over 0.54 metres)

True widths weren’t available.

With more holes scheduled for this drill station, Golden Dawn plans additional underground work at two other drill stations. The company also has permitting underway to extend the #7 drift for drilling and bulk sampling up to 10,000 tonnes. Processing would take place at Golden Dawn’s Greenwood mill, 15 kilometres southeast.

Looking at another of the company’s Greenwood properties, Golden Dawn has applied for a surface drilling permit for its Golden Crown property, which has a 2016 resource estimating 62,500 gold-equivalent ounces indicated and 13,100 ounces inferred.

Other plans include field work on an acquisition of 29 former Greenwood mines that closed last week. Golden Dawn filed a 43-101 on the 11,354-hectare package in January.

On February 24 the company announced closing of a US$1-million convertible security increase with Lind Asset Management VI. Earlier this month Golden Dawn reported receiving an initial US$3 million of a US$4-million streaming deal from RIVI Capital.

With an extensive portfolio of former mines proximal to its 200-tpd mill, Golden Dawn hopes to revive the historic Greenwood camp, about six hours’ drive east of Vancouver.

Aurvista drills 2.2 g/t gold over 23.1 metres, plans more rigs for Abitibi campaign

February 22nd, 2017

by Greg Klein | February 22, 2017

With a second rig now onsite and more planned to arrive, Aurvista Gold TSXV:AVA reported assays from its Douay gold project in Quebec’s Abitibi region on February 22. So far the crew has sunk 11 holes totalling 4,936 metres on three zones of the property’s Adam Creek deposit. The current program calls for 30,000 metres. Some highlights from the latest results include:

Hole DO-16-147

  • 2.11 g/t gold over 20.6 metres, starting at 150 metres in downhole depth (Douay West zone)


  • 2.2 g/t over 23.1 metres, starting at 90 metres (Upper Douay West)


  • 0.89 g/t over 36 metres, starting at 204 metres (New zone)


  • 3.53 g/t over 4.5 metres, starting at 70.5 metres (Douay West North A)
Aurvista drills 2.2 g/t gold over 23.1 metres, plans more rigs for Abitibi campaign

The latest results extend known mineralization along
east-west structural corridors and down-dip of
previous intersections, Aurvista stated.

True widths were estimated at 90%.

“The objective of the first drill holes was to prove the new geological model by extending the known mineralization along east-west corridors in proximity to three known gold zones,” stated COO Keith Minty. “A limited number of historic drill holes were twinned and new holes were drilled that visually extended the gold mineralization along the corridors and down-dip of previous intersections.”

With $7.5 million raised last year, the company plans to add more rigs to seek horizontal and vertical extensions of several zones and their potential connections.

The project’s 2012 base case resource applied a 0.3 g/t cutoff to eight zones along a five-kilometre trend:

  • indicated: 2.69 million tonnes averaging 2.76 g/t for 238,435 gold ounces

  • inferred: 114.65 million tonnes averaging 0.75 g/t for 2.75 million ounces

The resource ends at a vertical depth of approximately 400 metres.

Douay totals 14,520 hectares. Aurvista holds a 100% interest in 13,310 hectares, a 90% interest in 20 hectares and a 75% interest in the 1,190-hectare North West zone. The NW zone consists of a joint venture with 25% partner SOQUEM, the mineral exploration branch of the provincial government’s Investissement Québec.

Earlier this month the company announced four management additions. Last week Aurvista began trading on the OTCQB Venture Market in the U.S. under the symbol ARVSF.

Read more about Aurvista Gold.

NRG Metals expands size of potential lithium option in Argentina, resumes trading

February 21st, 2017

by Greg Klein | February 21, 2017

NRG Metals TSXV:NGZ resumed TSXV activity February 21, following the expansion of its Carachi Pampa option and completion of a 43-101 technical report. The company has also applied for a drill permit for the Argentinian lithium prospect, now increased from 6,387 hectares to 29,182 hectares.

NRG Metals expands size of potential lithium option in Argentina, resumes trading

Now 29,182 hectares in size, Carachi Pampa hosts
a low-resistivity zone that’s open in all directions.

Located about 3,000 metres’ elevation in the Andes, the property sits in the same region as FMC’s Salar del Hombre Muerto lithium mine and Galaxy Resources’ Sal de Vida lithium-potash project, which reached feasibility in 2013. Carachi Pampa has road access within 10 kilometres.

Using a common geophysical approach to finding potential brine zones in Argentina, NRG conducted a vertical electrical survey on the property. Of four zones tested, one showed extremely low resistivity, a characteristic of brine zones. The zone begins at 70 metres in depth and dips to 300 metres, the company stated. At least 150 metres thick, it’s open at depth and in all directions laterally. Awaiting a permit, the company anticipates exploration drilling.

With all figures in American currency, the acquisition comes with an initial price of $172,911 and 100,000 shares. Pending satisfactory exploration results, NRG would pay another $535,000 and 100,000 shares to sign a definitive agreement. Additional payments would bring the total to $6.72 million over 54 months.

Earlier this month NRG completed the spinout of its non-core assets, the Groete gold-copper project in Guyana and the LAB graphite project in Quebec, to Gold Port Resources. The new company will focus on Groete, which has a 2013 inferred resource that used a 0.22 g/t gold-equivalent cutoff:

  • 74.8 million tonnes averaging 0.49 g/t gold and 0.12% copper, or 0.66 g/t gold-equivalent, for 1.59 million gold-equivalent ounces

LAB sits adjacent and contiguous to Lac des Iles, the largest of North America’s two flake graphite mines.

NRG closed an oversubscribed private placement of C$1.51 million in December.

Pistol Bay Mining adds new property to Confederation Lake portfolio

February 16th, 2017

by Greg Klein | February 16, 2017

Pistol Bay Mining TSXV:PST hopes to unlock one of the puzzles of western Ontario’s Confederation Lake greenstone belt with its 100% option on the Joy North property. The 64-hectare claim lies contiguous with the company’s previously acquired Joy group of claims, which include five mineralized VMS zones. Pistol Bay’s Dixie zone is located about 11 kilometres east of Joy North.

Pistol Bay Mining adds new property to Confederation Lake portfolio

The new property covers a 1,000-metre-long conductive zone where a geochem survey found anomalous zinc, copper and gold. The conductor’s stronger areas also showed stronger magnetic responses.

In 1970 a single 48-metre hole found metavolcanic rocks with the intense alteration associated with volcanogenic massive sulphide deposits. The hole also revealed calc-silicate rocks “suggesting the property may lie at the same stratigraphic horizon as the Dixie zone,” Pistol Bay stated.

The previously acquired Joy group includes the Diamond Willow zone, with an historic, non-43-101 estimate of 270,000 tonnes averaging 4% zinc.

Past drilling highlights from the other four zones have included:

  • Joy Zone: 3.1% copper and 0.2% zinc over 5.7 metres
  • 4.01% copper and 0.17% zinc over 3.35 metres

  • Creek Zone: 2.33% copper and 0.27% zinc over 0.95 metres

  • South Zone: 0.28% copper and 17.17% zinc over 0.6 metres
  • 0.17% copper and 8.36% zinc over 0.25 metres

  • Caravelle Zone: 0.13% copper and 21.6% zinc over 0.25 metres
  • 0.22% copper and 4.44% zinc over 1.1 metres

The new acquisition “includes one of the very few electromagnetic anomalies in the prolifically mineralized Confederation Lake greenstone belt that has not been satisfactorily explained by diamond drilling,” commented CEO Charles Desjardins. The geochemical anomalies also “make it a prime exploration target,” he added.

Subject to approvals, Joy North’s price tag comes to a total of one million shares and $40,500 over four years. A 2% NSR applies, half of which may be bought back for $500,000 and the other half for $1.5 million. Pistol Bay must also drill at least two holes totalling 600 metres. The company intends to drill the project this year.

Last month Pistol Bay updated plans for a regional, multi-disciplinary approach to its Confederation Lake portfolio, which hosts properties that were previously explored by different companies in an inconsistent manner.

In Saskatchewan’s Athabasca Basin, Pistol Bay also holds the C4, C5 and C6 uranium properties, currently being drilled by a Rio Tinto NYSE:RIO subsidiary earning a 100% interest.

Two days before the Joy North announcement, the company appointed geologist Jody Dahrouge to its advisory board.

Read more about Pistol Bay Mining.

Rockcliff Copper reports assays, geophysics from Flin Flon-Snow Lake

February 16th, 2017

by Greg Klein | February 16, 2017

As drilling continues on its Talbot property in Manitoba’s Flin Flon-Snow Lake camp, Rockcliff Copper TSXV:RCU reported promising assays and geophysics on February 16. The copper-polymetallic VMS deposit forms part of the company’s approximately 45,000-hectare Snow Lake portfolio. Rockcliff holds a 51% option on Talbot from Hudbay Minerals TSX:HBM.

Hole TB-017 on the deposit’s main lens, “in an area void of drilling,” returned the following assays:

  • 0.93% copper, 2.73 g/t gold, 0.65% zinc and 15.23 g/t silver for 3.48% copper-equivalent over 16.08 metres, starting at 774.37 metres in downhole depth

Within that interval were two overlapping intercepts:

  • 0.35% copper, 4.02 g/t gold, 0.48% zinc and 13 g/t silver for 3.77% copper-equivalent over 8.74 metres, starting at 780.63 metres

  • 1.7% copper, 4.11 g/t gold, 0.34% zinc and 19.76 g/t silver for 5.2% copper-equivalent over 3.51 metres, starting at 786.94 metres
Rockcliff Copper reports assays, geophysics from Flin Flon-Snow Lake

Core from previous drilling at Talbot.

True widths weren’t available.

Drilling now focuses on a vertical-dipping 300-by-600-metre conductive plate recently discovered below the deposit’s north lens. EM has also found a larger conductive plate below the main lens, which could represent down-dip continuity of the lens.

Additionally, the survey found a much deeper but larger flat-lying target called the west Talbot deep conductive plate, measuring about one kilometre by one kilometre.

“Most of the larger mines in the camp have multiple stacked lenses that were initially identified as conductive plates,” remarked president/CEO Ken Lapierre. “We remain greatly encouraged not only by the consistent high metal grades and increased size potential of the deposit, but by the metal potential of the untested stacked conductive plates proximal to the deposit.”

The 7,000-metre program continues until winter break-up, targeting the north lens plate and the plates below the north copper zone, 2.5 kilometres north of the deposit.

Talbot’s January 2016 resource detailed an inferred category for three zones totalling:

  • 2.17 million tonnes averaging 2.8% copper, 2.4 g/t gold, 2.2% zinc and 54.6 g/t silver for 133.6 million pounds copper, 165,400 ounces gold, 107.4 million pounds zinc and 3.81 million ounces silver

Rockcliff has work scheduled on three other Snow Lake properties this year. The past-producing Laguna gold project has a high-res magnetic survey planned, while rigs will keep busy on the Bur zinc project and Rail copper-polymetallic deposit.

The company currently has about $2 million in the bank.

Read more about Rockcliff Copper.

As cobalt prices soar, King’s Bay expands prospects with Newfoundland acquisition

February 16th, 2017

by Greg Klein | February 16, 2017

A name and a commodity that are both objects of feverish attention seem to meet up in Newfoundland, where King’s Bay Gold TSXV:KBG has acquired the Trump Island copper-cobalt property. A 100% option announced February 16 expands the company’s cobalt prospects in Newfoundland, Labrador and Quebec.

Back in 1863 a Cornish miner sunk a six-metre shaft to follow a zone of massive chalcopyrite. He reportedly sent a shipment of high-grade copper-cobalt ore to Wales.

King’s Bay expands cobalt prospects with Newfoundland acquisition

Grab samples collected nearby in 1999 brought historic, non-43-101 results up to 3.8% copper, 0.3% cobalt, 2.9 g/t gold and 10.9 g/t silver.

The initial King’s Bay agenda would call for additional sampling, along with mapping and a local-scale electromagnetic survey on the 200-hectare property. Successful results could bring a summer drill campaign.

Subject to approvals, King’s Bay gets Trump Island for 200,000 shares at a deemed value of $0.195 and a 2% NSR.

The boat-accessible property sits seven kilometres south of Twillingate, a town immortalized in Newfoundland’s unofficial national anthem.

In Labrador, meanwhile, King’s Bay has airborne EM planned for its Lynx Lake copper-cobalt project, where grab samples have shown non-43-101 results up to 1.39% copper, 0.94% cobalt and 0.21% nickel, as well as chromium, molybdenum and vanadium values. Last month the company expanded Lynx Lake from about 2,000 hectares to approximately 24,000 hectares.

Earlier this month King’s Bay picked up three cobalt projects in Quebec. The company closed a $938,752 private placement in January.

The acquisitions come as cobalt prices continue their meteoric rise, hitting six-year highs up to $20 a pound, reported That represents an approximately 50% increase since September, according to Reuters. Stating that many traders are hoarding the metal, Reuters predicted a supply deficit this year “exacerbated by an insecure supply chain. Almost 60% of the world’s cobalt lies in politically risky Democratic Republic of Congo.”

See an infographic about cobalt.

Bravura Ventures files 43-101 for Idaho gold project

February 15th, 2017

by Greg Klein | February 15, 2017

A fresh 43-101 technical report sets the stage for further advancement at Bravura Ventures’ (CSE:BVQ) Musgrove Creek gold property in Idaho. The report’s author recommends a 2017 program that would include confirmation drilling to update an historic resource.

Bravura Ventures files 43-101 for Idaho gold project

Bravura closed a 100% option on the road-accessible property in October. The company describes it as one of many deposits along the Trans-Challis fault system including the Beartrack mine and other past-producers to the northeast, and the Grouse Creek mine and other past-producers to the southwest.

Originally calculated in 2004 but considered historic and non-43-101 by Bravura, an estimate for the Musgrove Creek Johny’s Point deposit used a 0.8 g/t gold cutoff to show:

  • inferred: 8 million tonnes averaging 1.22 g/t for 313,822 ounces gold

Bravura’s report recommends a two-phase 2017 program including digital data compilation, verification of chip sampling, permitting for road and drill site construction and confirmation drilling for a 43-101 Johny’s Point resource. The suggested budget comes to US$500,000.

In October the company also took on a 90% option on the Grew Creek gold project from Golden Predator Mining TSXV:GPY. Located in southeastern Yukon’s Tintina gold belt, the project has already undergone 290 holes totalling over 57,000 metres, with near-surface intervals up to 5.96 g/t gold and 24.1 g/t silver over 68 metres.

Update: BonTerra Resources increases financings—again—to nearly $15 million

February 13th, 2017

by Greg Klein | February 13, 2017

What started as a $6-million bought deal for BonTerra Resources TSXV:BTR has been raised three times—twice in one day—for gross proceeds of $13.97 million, in addition to a non-brokered $1.02 million.

The company first announced the bought deal at $6 million on February 6. Just one day later the amount increased to $9.39 million. The morning of February 13, the bought deal hit $12.9 million as BonTerra also announced the non-brokered private placement. Hours later the $12.9 million got a “final” increase to $13.97 million. Gross proceeds of both offers come to $14,999,600.

Acting as lead underwriter will be Sprott Capital Partners, a division of Sprott Private Wealth LP, along with underwriter INFOR Financial Inc. The news comes as BonTerra readies a third rig for its Gladiator drill campaign in Quebec’s Abitibi region.

BonTerra Resources increases bought deal to $12.9 million, adds non-brokered $1 million

Additional financing will back BonTerra’s ambitious drill program.

The bought deal consists of 11 million flow-through shares at $0.35 and 36.16 million shares at $0.28. The non-brokered placement offers 3.66 million shares at $0.28. The parties anticipate closing by March 2.

On February 2 BonTerra released results from two holes drilled last year on Gladiator, which currently has two rigs busy and a third waiting to join in. Hole BA-16-47 intersected the project’s Main zone as well as a new zone south of the deposit, with highlights showing:

  • 5.6 g/t gold over 1 metre, starting at 254 metres in downhole depth (Main zone)

  • 2 g/t over 3 metres, starting at 376 metres (New zone)

BA-16-48 delivered these results:

  • 14.9 g/t gold over 1 metre, starting at 358 metres (Footwall zone)

  • 16.8 g/t over 3.8 metres, starting at 394 metres (Main zone)

True widths weren’t available.

Two days earlier the company released three intervals from this year’s first hole, with assays as high as 15.7 g/t over 8.5 metres. As the 25,000-metre program continues, BonTerra hopes to connect zones across a 1.2-kilometre potential strike.

A 2012 resource estimate used a 4 g/t cutoff to show an inferred 905,000 tonnes averaging 9.37 g/t for 273,000 ounces. An update could be completed this spring or summer.

BonTerra also holds the Larder Lake project in Ontario, which hosts two historic, non-43-101 deposits. The Bear Lake estimate came to 683,000 gold ounces inferred, while the Cheminis estimate showed 43,800 gold ounces indicated and 233,400 ounces inferred. With an additional 25,000 metres drilled by Gold Fields NYSE:GFI to consider, BonTerra has a new 43-101 in preparation.

Read more about BonTerra Resources.

Golden Dawn Minerals gets US$4-million advance in Greenwood streaming deal

February 9th, 2017

by Greg Klein | February 9, 2017

With a gold purchase agreement now complete, Golden Dawn Minerals TSXV:GOM has received US$3 million from RIVI Capital LLC, with another US$1 million due the week of February 20. In return the private equity firm would get a share of production from two mines in southern British Columbia’s Greenwood camp that Golden Dawn plans to restart.

Golden Dawn Minerals gets US$4-million advance in Greenwood streaming deal

A miner stands by a chalcopyrite vein at Lexington.

The company will use the money to repay a bridge loan, for working capital and to close the acquisition of Kettle River Resources and its Greenwood-area portfolio. Golden Dawn completed a 43-101 technical report on the Kettle River properties last month.

RIVI would get 13.5% of gold from Golden Dawn’s planned Lexington and Golden Crown mines for $400 an ounce, up to a total of 15,000 ounces. After that, Golden Dawn would supply 6.75% of the mines’ gold production at $650 an ounce.

RIVI managing partner Kevin Puil joins Golden Dawn’s board. A chartered financial analyst with a degree in economics, Puil has held senior positions at firms including the Encompass Fund and Bolder Investment Partners, now Haywood Securities. He also serves as a director and member of the audit committee for three TSX companies.

Golden Dawn has a dewatering permit application in place for Lexington, which has been on care and maintenance since 2008. A 2016 resource estimate showed measured and indicated categories totalling 96,300 gold-equivalent ounces.

The company also has a work application underway to drill its Golden Crown property. Last year’s resource calculated 62,500 gold-equivalent ounces indicated and 13,100 ounces inferred. The past-producers sit within a 15-kilometre radius of Golden Dawn’s 200-tpd mill.

Among other Golden Dawn assets proximal to the mill is the May Mac project, for which the company released assays last month.

The properties are located about 500 kilometres east of Vancouver.

Read more about Golden Dawn Minerals.

Plucking the high grades

February 8th, 2017

Rockcliff Copper plans a busy year for its expanded Flin Flon-Snow Lake turf

by Greg Klein

Rockcliff Copper has a busy year planned for its expanded Flin Flon-Snow Lake turf

This year’s drilling will keep core shacks busy on at least three Rockcliff properties.


Grade is king to Ken Lapierre, so he proudly describes his company’s portfolio as “the best of three worlds—high-grade copper, high-grade zinc and high-grade gold”—the highest-grade unmined deposits in Manitoba’s Flin Flon-Snow Lake region, he adds. But the Rockcliff Copper TSXV:RCU geologist/president/CEO also emphasizes the properties’ location. “They’re beside excellent infrastructure, in a world-class mining camp, a mining-friendly jurisdiction and a politically stable country. You really can’t get any better than that.”

Rockcliff Copper has a busy year planned for its expanded Flin Flon-Snow Lake turf

Ken Lapierre considers Rockcliff’s portfolio to
hold the camp’s highest-grade unmined deposits.

Active in the region for about a decade, the company began by going after non-core assets of Hudbay Minerals TSX:HBM. The pace of property acquisitions picked up late last year, leaving Rockcliff with about 45,000 hectares.

Included are two copper-polymetallic deposits with resource estimates, four zinc deposits with historic, non-43-101 estimates and a gold project on the site of a former high-grade mine. The properties sit within trucking distance of two Hudbay plants, one for gold, the other for base metals.

Four projects have work planned this year.

Now underway at Talbot is a program recently increased from 6,000 to 7,500 metres on a project that’s undergone over 13,000 metres in the last 18 months. Lapierre describes it as a “high-grade VMS copper deposit with a high-grade gold tenor.” A January 2016 resource for three zones showed an inferred total of:

  • 2.17 million tonnes averaging 2.8% copper, 2.4 g/t gold, 2.2% zinc and 54.6 g/t silver for 133.6 million pounds copper, 165,400 ounces gold, 107.4 million pounds zinc and 3.81 million ounces silver

The average copper-equivalent grade comes to 5.5%, Lapierre points out.

“Talbot has room to grow because it’s open in all directions and there’s a host of conductive plates that could represent more deposits,” he says.

Besides hoping for expansion along strike and at depth, Lapierre sees possibilities for new discoveries on the approximately 12,000-hectare property.

“The attractive thing about this deposit is that it looks and feels like all the other large deposits that became large mines in this camp. You have a series of geophysical anomalies close together with base metals present. As well as three zones of mineralization that create the deposit, it has additional geophysical conductive plates along strike and at depth that have never been tested. So we wouldn’t have to go far to make a new discovery.”

The current campaign’s expected to last until March. That would bring Rockcliff past the halfway point of its 51% option with Hudbay. Lapierre sees Talbot’s resource update possible by year-end.

Although Snow Lake is known as a VMS camp, “in reality it started as a gold camp,” Lapierre points out. That brings to mind another object of his enthusiasm, the former Laguna gold mine acquired last September. “If this property was in Timmins it would have had tens of millions of dollars spent on it.”

One vein mined in the 1930s averaged 20.5 grams per tonne, producing 60,000 ounces. “The attractive thing about Laguna’s gold veins and stockwork systems is they’re a lot wider than we originally thought,” he continues. “The oldtimers followed narrow, high-grade veins running over an ounce to the ton…. The reality is these high-grade veins are associated with quartz stockwork systems. We sampled an old trench where five metres averaged about 7.5 grams per tonne. Back then that would have been waste, but today it’s not. There’s a series of these vein systems and they’re associated with a long structural fault system.”

Grab sampling late last year suggested a trend covering over six kilometres on the 3,499-hectare property.

There’s multiple veins but the last time it was drilled was in 1944 and the last time it had any decent science was never.—Ken Lapierre, president/CEO of Rockcliff Copper

“There’s multiple veins but the last time it was drilled was in 1944 and the last time it had any decent science was never.”

That changes this winter, as a helicopter-style drone flies a high-res magnetic survey over the property. The plan is to “outline and identify potential structural traps where gold likes to hang its hat,” Lapierre explains. “Then we’re going to follow with a surface induced polarization survey which will give us hotspots. The gold that’s on this property is associated with sulphides, so the IP survey will find where there’s an accumulation of sulphides.”

Back to VMS deposits, another 2017 drill priority is the Bur zinc project, optioned from Hudbay in September under a four-year, 100% earn-in. The 3,979-hectare property came with a 2007 resource that Rockcliff considers historic and non-43-101:

  • indicated: 1.05 million tonnes averaging 8.6% zinc, 1.9% copper, 12.1 g/t silver and 0.05 g/t gold

  • inferred: 302,000 tonnes averaging 9% zinc, 1.4% copper, 9.6 g/t silver and 0.08 g/t gold

The deposit remains open in all directions. “If our first phase drill program is successful, we’ll put that into a 43-101 resource which would be done by the end of 2017 as well.”

Rockcliff Copper has a busy year planned for its expanded Flin Flon-Snow Lake turf

The near-surface Rail deposit
remains open in all directions.

This year also calls for four to six holes totalling about 2,500 metres at the Rail deposit. In 2010 Rockcliff compiled a resource with an indicated category showing:

  • 822,000 tonnes averaging 3.04% copper, 0.9% zinc, 0.66 g/t gold and 9.25 g/t silver for 55.09 million pounds copper

“Rail has huge room for growth,” Lapierre says. “The deposit is still open along strike and at depth, it has a large untested geophysical plate below the deposit and for the most part it’s only been drilled down to about 250 metres.”

Among other projects with historic deposits is the 1,662-hectare near-surface MacBride zinc deposit. The December purchase came with a 1977 non-43-101 estimate of:

  • 1.82 million tonnes averaging 8.8% zinc, 0.3% copper, 0.1 g/t gold and 4.5 g/t silver

A 1.5% NSR in the Tower T-1 copper deposit might bring in over $1 million a year, Lapierre says. Rockcliff optioned its 70% stake to Akuna Minerals, which has a feasibility study scheduled for December. Lapierre hopes to see Akuna begin production by 2018.

As for more acquisitions, “we feel we’ve plucked the best there is to pluck in this camp,” he says. “But you always look because the minute you stop looking you eliminate opportunities to find a mine.”

Meanwhile the 2017 agenda calls for exploration on four properties, with drills turning on at least three.