WEL's Neighbour has news out -- their price also jumped last few days
posted on
Jan 08, 2009 09:32AM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
Breaking News
08:30 EST Thursday, January 08, 2009
Trading Symbol RCR: TSX-V
SUDBURY, ON, Jan. 8 /CNW/ - Rockcliff Resources Inc. (RCR: Tier 1 TSX-V) is pleased to announce that drilling will commence shortly on the Jackfish Nickel Property at its Snow Lake Project located in central Manitoba. A 3,000 m drill program is planned on the project which will initially focus at Jackfish where prospective, near surface, historical nickel-copper targets correspond with airborne VTEM anomalies outlined in RCR's recently flown airborne VTEM survey. The drill targets occur along the margin of the Jackfish Layered Gabbro Intrusion. The intrusion is interpreted as a classic host for near surface nickel-copper-platinum group metal (PGM) mineralization. Drilling is planned to commence in January.
Rockcliff's drilling will focus on several high priority VTEM anomaly trends located along the margin of the intrusion with strike lengths ranging from 150 m to 350 m. Limited historical drilling, coincident with the anomalies, intersected near surface, multiple, stacked zones of nickel-copper mineralization. No PGM assay results were ever reported.
Significant near surface (above 30 m), historical, nickel-copper results of drill intersected core lengths along the margin of the intrusion include:
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- 7.7 meters grading 1.39% nickel and 0.84% copper including
2.7 meters grading 2.22% nickel and 1.25% copper;
- 2.5 meters grading 1.84% nickel and 1.58% copper including
1.4 meters grading 2.82% nickel and 2.53% copper; and
- 2.1 meters grading 2.73% nickel and 0.50% copper.
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Ken Lapierre, President and CEO of Rockcliff commented, "Limited work completed in the 1950s and our recent exploration confirms that potential for a near surface, nickel-copper-PGM discovery at Jackfish is considered excellent. Our initial drill holes will focus only on areas that have the greatest potential for success".
To earn a 100% interest in the property, Rockcliff must pay $100,000 and issue 100,000 shares in escalating, incremental payments over a four year period to W. Bruce Dunlop Limited. In addition, Rockcliff will be required to incur aggregate, escalating, exploration expenditures totalling $350,000 over a four year period. Please refer to the Press Release dated September 6, 2007 for further details.