Rockcliff Copper acquires Penex zinc property in Manitoba, Canada
Rockcliff Copper has acquired the Penex zinc property in Snow Lake, Manitoba, Canada.
The acquired property is strategically located nearly 200m from the Hudbay Minerals' historic high-grade Pen zinc deposit.
This property has become a part of the Snow Lake project and hosts the down dip continuation of the high-grade Pen zinc deposit.
The Snow Lake Project is situated in the Flin Flon-Snow Lake greenstone belt that hosts high-grade precious and base metal deposits and mines.
Rockcliff president and CEO Ken Lapierre said: “Staking of the Penex zinc property containing the down dip continuation of the high-grade Pen zinc deposit was very strategic and timely.
“It underpins our commitment to acquire properties either by staking or acquisition that have significant metal potential within trucking distance to milling facilities in this world-class base and precious metals camp.
“We feel confident that our 100% owned Penex zinc property will become a very strategic asset for Rockcliff.”
Hudbay's high-grade Pen zinc deposit hosts multiple zinc-rich lenses, strikes north-east-south-west and dips / plunges north-west.
All lenses of the Pen zinc deposit dip towards Penex’s northern boundary and at least one of the zinc-rich lenses dips, as well as plunges onto the property at a vertical depth of between 300m and 350m.
The deepest historical drill hole (CPen-03) on the property intersected the deposit at approximately 475m vertical.
The hole assayed 6.7% zinc equivalent across 2.6m within a much thicker zinc envelope of 7.6m grading 4% zinc equivalent.
Bore hole geophysics were completed in drill hole CPen-03. It confirmed that the deposit's conductivity continued downward within Penex and strengthened at depth below the hole in an area that has not yet been tested by drilling.
Rockcliff's completely permitted surface geophysical Deep Penetrating ElectroMagnetic (DPEM) survey has started on the property.
The DPEM survey will help in determining the extent and depth potential of the conductivity regarding the Pen zinc deposit on the company's property and will provide a framework for a diamond drilling programme planned in 2017.