Jun 2 2015
Rockhaven Resources Ltd. ("Rockhaven") is pleased to announce the commencement of the 2015 exploration and engineering program at its 100% owned Klaza gold-silver property, located in the Dawson Range Gold Belt of southern Yukon.
The 2015 program will include 15,000 m of diamond drilling plus related geotechnical, metallurgical and environmental studies. The drilling will primarily focus on expanding and better defining the recently announced maiden inferred resource estimate that includes 7,040,000 tonnes containing 948,348 oz gold and 21,780,313 oz silver (1,311,353 oz gold EQ*) at an average grade of 4.19 g/t gold and 96.23 g/t silver (5.79 g/t gold EQ) using a 1.5 g/t gold cut-off (see Klaza Property Technical Report** dated March 11, 2015.)
"We are excited to begin our fully-funded 2015 program which we expect will significantly expand the current high-grade gold and silver resources outlined within two of the nine main zones on the Klaza property. The drilling will also assess the potential at some of the seven other sub-parallel zones at which only broadly spaced drilling and trenching have been done," stated Matt Turner, Rockhaven's CEO. "Engineering and permitting studies will ramp up to systematically advance the Klaza project towards development."
Two drills will be used to test targets that include:
- The Western BRX Zone, where drilling will focus on expanding the resource below the currently modeled depth of 320 m down-dip of surface. KL-14-238, the deepest hole completed to date at the Western BRX Zone, intersected 16.29 g/t gold, 1,435 g/t silver, 5.57% lead and 6.23% zinc over 1.37 m. This hole was excluded from the resource as it intersected the zone at 520 m down-dip and represents a 200 m step-out from the resource modeled area;
- The Western Klaza Zone, which hosts the highest gold equivalent grade portion of the resource and has strong potential for expansion;
- The Central and Eastern BRX zones, where widely spaced drilling has returned both high-grade and bulk-tonnage style targets. Holes are planned in the area of KL-12-114, which returned 11.30 g/t gold and 233 g/t silver over 1.52 m;
- The Central Klaza Zone, where holes will explore along strike from and beneath hole DDH-12-133, the deepest intercept to date on the zone, which intersected 11.90 g/t gold and 5.23 g/t silver over 6.70 m at a depth of 310 m below surface; and,
- The Pika Zone, where detailed drilling will be concentrated around DDH-10-06, which averaged 32.52 g/t gold 34.3 g/t silver over 3.36 m.
The scheduled program can easily be expanded pending favourable exploration results and financing options.
*Gold equivalence (gold EQ) has been calculated using metal prices of $1200 per oz gold and $20.00 per oz silver and assumes 100% recoveries of both metals. Base metals were not used in the calculation of gold equivalence.
**For further information on Rockhaven's inferred resource on the Klaza property, please see its technical report titled "Geology, Mineralization, Geochemical Surveys, Geophysical Surveys, Diamond and Percussion Drilling, Metallurgical Testing and Mineral Resources on the Klaza Property, Yukon, Canada" which can be viewed at www.sedar.com under the Rockhaven profile or on the Rockhaven website at www.rockhavenresources.com.
The 2015 Klaza program is managed by Archer, Cathro & Associates (1981) Limited (Archer Cathro). Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer Cathro and qualified person for the purpose of National Instrument 43-101.