Rockcliff Metals (CSE: RCLF; US-OTC: RKCLF) has launched a preliminary financial evaluation for its 100% owned Tower and Rail tasks positioned in central Manitoba’s Flin Flon-Snow Lake Greenstone belt.
The PEA envisioned constructing two underground mines at Tower and Rail, with twin concentrates of copper and zinc produced on each websites utilizing a modular mill. The plan is to assemble the Tower mine first, over 16 months, and make the most of its money move to fund a second mine on the Rail deposit. The 2 deposits are located 175 km aside.
The modular mill will probably be transferred to the Rail property as soon as the Tower deposit has been totally mined out, which is envisioned to happen within the fifth 12 months of the plan, the corporate mentioned.
The early-stage examine forecast annual manufacturing of 119,000 copper-equivalent tonnes a 12 months at an all-in sustaining value of US$2.46 per pound. The mixed lifetime of mine of the Tower and Rail deposits is 9.5 years.
At an 8% low cost fee, the venture would generate a post-tax internet current worth of $128.6 million and a post-tax inner fee of return of 67% utilizing steel costs of US$3.76 per lb. copper, US$1.25 per lb. zinc, US$1,828 per oz. gold and US$24.64 per oz. silver.
The preliminary financial evaluation foresees an preliminary capital funding of $81 million with a development interval of 16 months.
“The Tower and Rail deposits are close to floor, related to nice infrastructure and are extraordinarily excessive grade,” Ken Lapierre, the corporate’s CEO, informed the Northern Miner. “The chance to extend the assets with extra drilling and lengthen the potential LOM [life of mine] is excessive.”
The following steps embrace finishing the environmental research at each properties, growing the assets and upgrading “the boldness stage with a few of the current assets to the measured class,” mentioned Lapierre.
The Tower venture has indicated assets of 1.71 million tonnes grading 3.28% copper, 1.04% zinc, 0.7 gram gold per tonne and 16.5 grams silver per tonne. Inferred assets add 499,000 tonnes, grading 1.74% copper, 1.16% zinc, 0.2 gram gold per tonne and eight.4 grams silver per tonne. Tower consists of 43 mineral claims masking a complete space of 9,530 hectares.
The Rail venture incorporates indicated assets of two.05 million tonnes grading 1.87% copper, 0.59% zinc, 0.6 gram gold per tonne and 6.1 grams silver per tonne. Inferred assets stand at 2.14% copper, 0.83% zinc, 0.9 gram gold per tonne and seven.6 grams silver per tonne. Rail p consists of 16 mining claims totalling 3,187.8 hectares.
The corporate is assured of acquiring all of the “required permits” to permit mining, processing and dry stack tailings deposition on website, inside two years.
Rockcliff Metals acquired the Tower and Rail properties in 2019 and 2012 respectively.
At presstime, Rockcliff Metals was buying and selling at 6.5¢ per share, inside a 52-week buying and selling vary of 4.5¢ and 9.5¢. The corporate has 307.9 million widespread shares excellent for a market cap of $21.5 million.
