Soaring demand for copper will help drive mergers, BHP CEO says
Demand for copper, a key element in the energy transition, is set to rise by 70% to 100% by 2050, Mike Henry said
The most recent drill results from Rockliff Metals’ (CSE: RCLF) wholly owned Tower property in central Manitoba have increased the strike length of the Tower deposit to 1,000 metres and hit mineralization at depths of approximately 800 metres.
Based on potential for additional mineralization, Rockcliff has decided to commission an updated resource estimate for Tower, which will be incorporated into the preliminary economic assessment underway for the property.
According to Alistair Ross, Rockcliff’s president and CEO, “the PEA results are anticipated to be known before the end of the year.”
In its release, the company reported assay results for 12 holes. Drill highlights include 4.2 metres of 1.77% copper, 0.05% zinc, 0.22 gram gold per tonne and 13.22 grams silver per tonne (2.04% copper-equivalent); 2.5 metres of 4.98% copper, 2.56% zinc, 0.44 gram gold and 23.1 grams silver (6.39% copper-equivalent); and 3.47 metres of 3.89% copper, 3% zinc, 0.37 gram gold and 15.84 grams silver (5.36% copper-equivalent).
The company is also using these latest drill results to broaden its understanding of the geotechnical aspects of the Tower deposit – the additional drill data will be used to support the mining and geotechnical assumptions in the PEA.
One additional hole is currently being logged.
In addition, Rockcliff completed four holes at the TGR nickel-platinum group element (PGE) prospect, which did not return visible mineralization. The samples are now in the lab for nickel and PGE analysis. A compilation study is underway to determine the next exploration steps for this zone.
In April, the company published an updated resource estimate for Tower, with 1 million indicated tonnes, at 4.69% copper, 1.32% zinc, 0.85 gram gold and 23.7 grams silver (5.74% copper-equivalent); and 367,000 inferred tonnes, at 3.53% copper, 1.05% zinc, 0.57 gram gold and 18 grams silver (4.29% copper-equivalent).
In addition to Tower, Rockcliff holds a lease on a 1,000 tonne per day processing and tailings facility, 130 km away. The company also has a 100% interest in the Rail property and a 49% stake in the Talbot project (where Hudbay Minerals (TSX: HBM; NYSE: HBM) owns 51%) – Rail and Talbot are also within trucking distance of the mill, in the Snow Lake area.
(This article first appeared in the Canadian Mining Journal)
