| Announcement Date: | 2022-02-21 |
|---|---|
| Announcement Type: | PEA |
| Announcement Code: | NI43-101 |
| Company name: | Rockcliff Metals Corp. |
| Project name: | Tower & Rail |
| Location: | Canada |
| Commodities: | Gold,Silver,Copper,Zinc |
| Highlight: | PEA results incl. post-tax NPV (8%) of C$127.6M & IRR of 67% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Toronto, Ontario–(Newsfile Corp. – February 1, 2022) – Rockcliff Metals Corporation (CSE: RCLF) (OTCQB: RKCLF) (“Rockcliff” or the “Company”) is pleased to announce the results of its Preliminary Economic Assessment (“PEA” or the “Study”) for the Company’s 100% owned Tower and Rail Project (“the Project”), located in the Flin Flon-Snow Lake Greenstone Belt in the Snow Lake area of central Manitoba. All references to currency herein are in Canadian dollars unless otherwise specified. The Study was commissioned in 2021 with the aim of exploring alternative development approaches in order to reduce initial capital requirements and improve financeability of the Project. It is proposed that the Project be constructed as underground mines, using the Alimak raise mining method, with dual concentrates of copper and zinc produced on site through the use of a modular mill. Rockcliff considers the study a huge success as the results support the view that the Project can be developed in a low capital intensive manner with a very short payback period. The forecast potential economic returns from the Project justify further development and advancing work to secure the required permits for operation. The Study supersedes all previous studies and incorporates the updated Mineral Resource Estimates for the Tower and Rail Properties. The study was authored by A-Z Mining Professionals Ltd. (“AMPL”). |
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