Rockcliff Metals Corp. said Dec. 7 that an updated resource estimate for the Talbot copper deposit, part of its Snow Lake property in Manitoba, defined 150 million pounds of copper, 130.4 million pounds of zinc, 241,000 ounces of gold and 3.8 million ounces of silver.
The metal is contained within inferred resources of 4.2 million tonnes grading 1.61% copper, 1.40% zinc, 1.77 g/t of gold and 27.96 g/t of silver, or 3.4% copper equivalent, with mineralization remaining open in all directions.
The initial estimate for Talbot, completed in February 2016, outlined inferred resources of 2.2 million tonnes grading 2.8% copper, 2.4 g/t of gold, 2.2% zinc and 54.6 g/t of silver.
The updated estimate uses a cutoff of 2% copper equivalent and incorporates a long-term gold price of US$1,400/oz as well as US$20/oz of silver, US$3/lb of copper and US$1.20/lb of zinc.
"The Talbot property is our flagship gold-rich copper asset and we are extremely excited about its present growth trajectory and our 2018 drilling will be planned to increase the potential size of this asset," President and CEO Ken Lapierre said in a statement.