The slowdown of exploration isn’t halting the search for more zinc, copper and lithium in the Snow Lake region.
Last month, Rockcliff Copper Corp. signed an option agreement to earn up to 100 per cent interest in the Bur property from Hudbay.
According to Rockcliff, Bur hosts a high-grade, zinc-rich VMS (volcanogenic massive sulphide) deposit.
“The Bur deposit is one of the highest grade unmined zinc-rich deposits in the Flin Flon-Snow Lake mining camp and fits perfectly with our goal of acquiring, discovering and advancing high-grade metal-rich deposits in this prolific camp,” Rockcliff president and CEO Ken Lapierre said in a news release. “Adding high-grade zinc resources near our existing high-grade copper resources adds excellent diversity in metals that are moving towards a worldwide shortage.
“Also, it is one of the most cost-effective ways to achieve significant growth within a world-class mining camp known for its exceptional metal grades, outstanding infrastructure and low-cost electrical power. The addition of this high-grade zinc deposit enhances our ability to make significant strides towards our ultimate goal of becoming the next mine finders in one of the best mining and exploration jurisdictions in the world.”
Located 28 km outside Snow Lake, Bur covers 86 mining claims, totalling nearly 4,000 hectares.
A historical mineral estimate – one that does not meet today’s reporting standards – suggested with a reasonable level of confidence that Bur contains 1.05 million tonnes of ore with grades of 8.6 per cent zinc and 1.9 per cent copper.
Rockcliff mentioned these estimates in a news release but stressed the figures should not be considered reliable.
“Additional work including surface geophysics, drilling and bore hole geophysics will need to be completed to upgrade the historical resource to current,” said the Toronto-based junior exploration company.
Rockcliff can earn a 100 per cent interest in Bur from Hudbay by spending $3 million on exploration over four years. Through other terms, Hudbay could later buy back 70 per cent of the property by paying Rockcliff $3 million over three years.
If Bur is deemed viable, the end result could be a joint venture in which Hudbay owns 70 per cent of the deposit and Rockcliff 30 per cent. Hudbay operates the Reed mine under this same structure.
Talbot
Meanwhile, Rockcliff also announced that a second-phase drill program on the Talbot property commenced earlier this month.
The program is to include between 10 and 12 holes totalling about 5,000 m and will focus on three areas centered around a gold-rich copper deposit, the company said.
Rockcliff planned to drill test three areas identified in surveys and drilling last year at Talbot, located about 80 km from Snow Lake.
Among these areas is the Talbot deposit main and north lens, where drilling identified what the company called “a potential high-grade copper corridor” within the main lens.
Rockcliff can earn a 51 per cent interest in Talbot from Hudbay by spending $6.12 million on exploration over the next six years. If Rockcliff earns its 51 per cent interest, Rockcliff (51 per cent) and Hudbay (49 per cent) would form a joint venture with Rockcliff as the operator.
Through other terms, Hudbay can become the operator and earn an interest as high as 65 per cent.
Zoro
Elsewhere, Vancouver-based Far Resources recently provided an update on the upcoming drill program at its Zoro lithium property in the Snow Lake area.
Field crews working on Zoro have completed prospecting, mapping and initial preparations for a planned 1,200-m drill program, the company said.
Collar locations for the drill program were adjusted based on an ongoing interpretation of historic data and new field observations by Far’s crew, according to a company news release.
During a recent prospecting program, a total of 47 pit and trench locations were located and mapped, resulting in the definitive location of Dyke 6, a historic pegmatite dyke that contains spodumene, an important source of lithium.
“Additional pegmatite-bearing outcrop was also located on the property,” Far said. “These outcrops show no evidence of exploration and will be the focus of additional fieldwork in the future.”
Following Thanksgiving, Far crews planned to revisit the Zoro property to cut drill and helicopter pads in preparation for the planned drill program.
According to the US Geological Survey, the three main global end-use markets for lithium are ceramics and glass, batteries and lubricating greases.
