VANCOUVER, BC / ACCESSWIRE / October 24, 2019 / Rockhaven Resources Ltd. (TSXV:RK) ("Rockhaven" or the "Company") is pleased to announce the successful completion of the 2019 diamond drill program at its 100%-owned and road accessible Klaza property, located in the Dawson Range Gold Belt of southern Yukon.
The 2019 program included 5,750 m of diamond drilling in 33 holes at a cost of $1.5 million. Two drill rigs were utilized to define and evaluate targets that lie adjacent to the zones containing the 2018 mineral resource estimate. This estimate includes indicated resources of 4.5 Mt containing 686,000 oz gold and 14,071,000 oz silver at grades of 4.8 g/t gold and 98 g/t silver, and inferred resources of 5.7 Mt containing 507,000 oz gold and 13,901,000 oz silver at grades of 2.8 g/t gold and 76 g/t silver (see Klaza Property Technical Report dated August 2, 2018).
"The 2019 drilling was completed in only 29 days, and visual inspection of core suggests that the known veins were intersected where expected and that new mineralized structures were discovered in a number of the exploration holes," stated Matt Turner, Rockhaven's CEO. "I wish to congratulate the Rockhaven exploration team, both past and present, as we have just surpassed 100,000 m of total diamond drilling since acquiring the Klaza project in 2010. This milestone is highlighted by an uncommonly high success rate, with better than 16 ounces gold equivalent* per metre drilled and mineralized veins in 95% of the holes."
Exploration drilling evaluated high-grade gold and silver targets in lightly explored zones that are sub-parallel to the known resources. These targets included the Central and Western Pearl, Eastern Dickson and newly discovered Eastern Chevron zones. The Central Pearl Zone was discovered in 2017 in a single drill hole that cut numerous mineralized structures at depth. The 2019 exploration program successfully tested up-dip and along-strike of the discovery intercepts.
In addition to expanding the Pearl Zone, exploration work led to the discovery of the Eastern Chevron Zone, which was first exposed during drill pad construction for a hole designed to test the more northerly Eastern Dickson Zone. Following this discovery, the drill collars were stepped back in order to test the newly identified mineralization. Significant veining was cut in both zones.
Definition drilling was completed at the Eastern BRX, AEX, Stroshein, and Pika zones, where bulk tonnage, cyanide leachable mineralization is hosted in broad bands situated alongside and along-strike of the known mineral resources. This drilling focused on potentially pit-constrained portions of these zones, and results will facilitate deposit modelling and future resource estimation. Multiple veins were intersected in all of the definition holes.
Assay results from the 2019 diamond drill hole program will be released once assays have been received, compiled and evaluated. It is assumed that the first round of results will be ready in the next few weeks.
Appointment of Chairman
Rockhaven would also like to announce the appointment of Robert C. Carne M.Sc., P.Geo. as Chairman. Mr. Carne has served on the Rockhaven Board of Directors since 2008 and as its President from 2008 to 2015. The Rockhaven Board of Directors would like to thank Mr. Carne for his expanded role within the Company.
Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and qualified person for the purpose of National Instrument 43-101.
Rockhaven Resources Ltd. is a mineral exploration company focused on growth through the advancement of its Klaza project. For additional information concerning Rockhaven or its Klaza project please visit Rockhaven's website at www.rockhavenresources.com.
President, CEO and Director
Rockhaven Resources Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
* Gold equivalent values assume $1,400/oz Au, $19/oz Ag, $1.10/lb Pb, and $1.25/lb Zn, and variable recoveries for the different metals.
SOURCE: Rockhaven Resources Ltd.