Skip to main content

Rockcliff Announces Commencement of Preliminary Economic Assessment and Provides Corporate Update

Written by Customer Service on . Posted in Public Companies.

SUDBURY, Ontario, April 06, 2020 (GLOBE NEWSWIRE) — Rockcliff Metals Corporation (“Rockcliff” or the “Company”) (CSE: RCLF) (FRANKFURT: RO0, WKN: A2H60G) is pleased to provide an update on the Preliminary Economic Assessment (“PEA”) of the Tower and Rail properties and the Company’s COVID-19 response plan and operational update.
Preliminary Economic AssessmentRockcliff will be commencing immediately the preparation of the PEA incorporating the following key elements:Sequential development of the 100% owned Tower and Rail projects to provide feed to the leased Bucko Mill;Application of the mine approach, methodology and productivities to the resources established in the updated Technical Resource Estimates reports. A separate mine methodology press release is planned within a month;Apply results from the recently completed metallurgical characterization testwork to flowsheet development and modification assessment at the Bucko Mill.The PEA is planned for completion in the 3rd quarter of this year.Concurrently, Rockcliff will continue to advance permitting activities and documentation to support completion of applications for an Advanced Exploration Permit as well as the Notice of Alteration for the Bucko Mill to allow conversion to production of copper and zinc concentrates.COVID-19 Response and Operational UpdateRockcliff places the safety and wellbeing of the Company’s workforce as its highest priority and continues to take input from all stakeholders as the COVID-19 pandemic continues to evolve. In response to the pandemic, the Company implemented specific additional health and safety protocols as recommended by Health Canada and the World Health Organization, as well as the Provincial Governments of Ontario and Manitoba. These additional precautionary steps to manage and respond to the risks, associated with the COVID-19 virus are being taken to ensure the safety of the Company’s employees, contractors, suppliers and surrounding communities where the Company operates.Current drill programs had already been scheduled to conclude prior to commencement of the spring thaw in Manitoba. Contractors are completing demobilization as originally planned.  Continuation of the 2020 drill program, which was previously scheduled to recommence in mid-May, will be temporarily delayed until more visibility on the ongoing effects of pandemic can be determined. Management will continue to monitor and evaluate the situation to determine when remobilization can be done safely consistent with evolving governmental restrictions and recommendations.  As a further precautionary measure, the Company has closed its head office in Sudbury, with staff working remotely.In response to disruptions in the capital markets, the Company has developed and implemented a cash conservation plan. As of March 31, 2020, the Company remains well capitalized with a cash balance of approximately $12.7 million. Apart from commencement of the PEA  and advancing the permitting processes for the mine and the mill, all other work programs have been temporarily suspended. The critical path activities will be done safely and cost effectively, while further de-risking the projects’ scheduled timeline. Management will provide updates to overall schedule impact as clarity on the pandemic’s impact becomes known over the coming months.Alistair Ross, President and CEO commented: “Our key immediate corporate activities remain on schedule as we adapt our way of working in response to guidelines and directives made by the Governments of Canada, Ontario and Manitoba in response the COVID-19 pandemic. We have the necessary data to feed our PEA, and have retained the appropriate consultants to advance our PEA as originally planned. We will continue to monitor the impact of the pandemic as well as Governmental directives and continue to communicate with all stakeholders accordingly.”The Company has evolved its investor relations programme to facilitate increased digital communications and invites you to visit its newly created YouTube channel with a message from the President and CEO, Alistair Ross. To access the video, please visit: https://youtu.be/mPO_uTidzjs.About Rockcliff Metals CorporationRockcliff is a well-funded Canadian resource development and exploration company, with a fully functional +1,000 tpd leased processing and tailings facility as well as several advance-staged, high-grade copper and zinc dominant VMS deposits in the Snow Lake area of central Manitoba.  The Company is a major landholder in the Flin Flon-Snow Lake greenstone belt which is home to the largest Paleoproterozoic VMS district in the world, hosting mines and deposits containing copper, zinc, gold and silver.  The Company’s extensive portfolio of properties totals over 4,500 square kilometres and includes eight of the highest-grade, undeveloped VMS deposits in the belt.For more information, please visit http://rockcliffmetals.com
Youtube: Rockcliff Metals Corporation
Twitter: @RockcliffMetals
Linkedin: Rockcliff Metals Corp
Instagram: Rockcliff_MetalsFor further information, please contact:
Rockcliff Metals Corporation                                                       
Alistair Ross                                                                                          
President & CEO                                                                 
Phone: (249) 805-9020                                                                     
contact@rockcliffmetals.com       Cautionary Note Regarding Forward-Looking Statements: This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. All statements contained in this news release, other than statements of historical fact, are to be considered forward-looking. Although Rockcliff believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not a guarantee of future performance and actual results or developments may differ materially from those in the forward-looking statements.The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.