While it may not be apparent from its share price, which has ranged between 1.5¢ and 16¢ over the last year, Rockcliff Copper (TSXV: RCU) has quietly expanded its grip on Manitoba’s Flin Flon-Snow Lake greenstone belt, with recent option deals on two of the mining camp’s highest-grade metal deposits.
In September, the junior explorer signed an agreement with a prospector to earn 100% of the Laguna gold property, which hosts a former high-grade gold mine, 20 km southeast of Snow Lake and Hudbay Minerals’ (TSX: HBM; NYSE: HBM) 2,150-tonne-per-day gold mill facility.
The deposit was mined intermittently between 1916 and 1939 — producing more than 60,000 oz. gold from 101,000 tonnes averaging 20.57 grams gold per tonne — and there has been virtually no exploration done there in the last 70 years.
Rockcliff struck a second deal, also in September, to earn up to 100% of Hudbay’s Bur property, which hosts a high-grade, zinc-rich volcanogenic massive sulphide (VMS) deposit.
That deposit, 28 km from Snow Lake and 22 km northeast of Hudbay’s Snow Lake copper-zinc concentrator, has a historic resource of 1.1 million tonnes grading 8.6% zinc, 1.9% copper, 12.1 grams silver per tonne and 0.05 gram gold in the indicated category, and another 302,000 tonnes grading 9% zinc, 1.4% copper, 9.6 grams silver and 0.08 gram gold of inferred.
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