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Rockhaven Resources
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Rockhaven Resources
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Rockhaven Resources Ltd. Announces Acquistion Of Klaza Gold- Silver Project
November 4, 2009 - Rockhaven Resources Ltd. (TSX-V:RK) (“Rockhaven”) is pleased to announce that it has been granted the right to acquire a 100% interest in the Klaza gold-silver property in southwestern Yukon. The acquisition will further strengthen the Company’s already impressive portfolio of gold and silver projects.
The Klaza property is located 50 km west of Carmacks and covers a 4.5 sq. km. area. The property is road accessible by a two-wheel drive road from the Klondike Highway.
The property is favourably situated within the Mt. Nansen gold camp, a district that hosts an extensive system of gold-silver veins. A series of subparallel mineralized zones and related soil geochemical anomalies have been discovered across the property by previous operators. The zones typically consist of 1 to 10 m wide gougy vein structures with intermittent quartz lenses containing abundant pyrite, arsenopyrite, galena, sphalerite, tetrahedrite and/or stibnite.
Previous exploration identified three main vein zones and a number of subsidiary structures across the property. These main zones are called the BRX, Klaza and BYG and are discussed in detail in the following paragraphs.
The BRX Zone has been traced by closely spaced excavator trenches and diamond drill holes for a 750 m strike length. Most exposures grade between 3 and 6 g/t Au with 20 to 200 g/t Ag across 1 to 2 m widths. Peak values include 28.11 g/t Au over 2.0 m and 1289.14 g/t Ag across 1.7 m. The BRX Zone has been tested by 13 diamond drill holes with the best intersection averaging 6.27 g/t Au and 18.94 g/t Ag over 8.9 m, including 1.5 m grading 24.51 g/t Au and 50.06 g/t Ag.
The Klaza Zone is located 1000 m north of the BRX Zone and has been traced for a length of 250 m. It is open to extension in both directions along strike. Mineralized intervals exposed in excavator trenches returned assays ranging between 0.82 to 43.06 g/t Au and 3.17 to 521.14 g/t Ag across widths of 0.80 m to 8.0 m. A total of 11 separate exposures from 3 trenches returned a weighted average of 8.11 g/t Au and 123.35 g/t Ag over an arithmetic average width of 2.11 m. Only one diamond drill hole has tested this zone and it yielded 3.82 g/t Au and 84.70 g/t Ag over 5.05 m.
The BYG Zone is located approximately midway between the other zones. It has been explored with two trenches located 180 m apart and one diamond drill hole. The highest trench assay was 6.03 g/t Au and 24.00 g/t Ag over 3.3 m. A diamond drill hole beneath this trench intersected several quartz±sulphide bands, the best of which returned 4.80 g/t Au and 23.70 g/t Ag over a 1.0 m interval.
Undrilled and untrenched soil geochemical anomalies and induced polarization geophysical targets suggest there is good potential for additional discoveries on the property.
Subject to TSX Venture Exchange acceptance, Rockhaven will acquire a 100% interest in the Klaza property by making a $100,000 cash payment and issuing 250,000 shares to ATAC Resources Ltd. Rockhaven’s interest will not be subject to any underlying royalties or commitments.
“The Klaza property is a very nice addition to Rockhaven’s portfolio and gives the Company another exceptional asset in a proven gold belt. The high grade nature of the known showings and the potential for more discoveries make this a particularly attractive project” says Rockhaven’s CEO Matt Turner. “Exploration and development logistics are very favourable.”
The technical information in this news release has been reviewed by W.A. Wengyznowski, P.Eng., a qualified person for the purpose of National Instrument 43-101.
For additional information concerning Rockhaven Resources Ltd. or its various exploration projects please visit the Company’s website at www.rockhavenresources.com or contact:
Matthew Turner, CEO
Rockhaven Resources Ltd.
T: 604-688-2568
mturner@nordacres.com
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.
CAUTIONARY NOTE: This news release includes certain “forward-looking statements”. Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of Rockhaven are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by Rockhaven are those risks described herein and from time to time, in the filings made by Rockhaven with Canadian securities regulators. Those filings can be found on the Internet athttp%3A%2F%2Fwww.sedar.com.
The Klaza property is located 50 km west of Carmacks and covers a 4.5 sq. km. area. The property is road accessible by a two-wheel drive road from the Klondike Highway.
The property is favourably situated within the Mt. Nansen gold camp, a district that hosts an extensive system of gold-silver veins. A series of subparallel mineralized zones and related soil geochemical anomalies have been discovered across the property by previous operators. The zones typically consist of 1 to 10 m wide gougy vein structures with intermittent quartz lenses containing abundant pyrite, arsenopyrite, galena, sphalerite, tetrahedrite and/or stibnite.
Previous exploration identified three main vein zones and a number of subsidiary structures across the property. These main zones are called the BRX, Klaza and BYG and are discussed in detail in the following paragraphs.
The BRX Zone has been traced by closely spaced excavator trenches and diamond drill holes for a 750 m strike length. Most exposures grade between 3 and 6 g/t Au with 20 to 200 g/t Ag across 1 to 2 m widths. Peak values include 28.11 g/t Au over 2.0 m and 1289.14 g/t Ag across 1.7 m. The BRX Zone has been tested by 13 diamond drill holes with the best intersection averaging 6.27 g/t Au and 18.94 g/t Ag over 8.9 m, including 1.5 m grading 24.51 g/t Au and 50.06 g/t Ag.
The Klaza Zone is located 1000 m north of the BRX Zone and has been traced for a length of 250 m. It is open to extension in both directions along strike. Mineralized intervals exposed in excavator trenches returned assays ranging between 0.82 to 43.06 g/t Au and 3.17 to 521.14 g/t Ag across widths of 0.80 m to 8.0 m. A total of 11 separate exposures from 3 trenches returned a weighted average of 8.11 g/t Au and 123.35 g/t Ag over an arithmetic average width of 2.11 m. Only one diamond drill hole has tested this zone and it yielded 3.82 g/t Au and 84.70 g/t Ag over 5.05 m.
The BYG Zone is located approximately midway between the other zones. It has been explored with two trenches located 180 m apart and one diamond drill hole. The highest trench assay was 6.03 g/t Au and 24.00 g/t Ag over 3.3 m. A diamond drill hole beneath this trench intersected several quartz±sulphide bands, the best of which returned 4.80 g/t Au and 23.70 g/t Ag over a 1.0 m interval.
Undrilled and untrenched soil geochemical anomalies and induced polarization geophysical targets suggest there is good potential for additional discoveries on the property.
Subject to TSX Venture Exchange acceptance, Rockhaven will acquire a 100% interest in the Klaza property by making a $100,000 cash payment and issuing 250,000 shares to ATAC Resources Ltd. Rockhaven’s interest will not be subject to any underlying royalties or commitments.
“The Klaza property is a very nice addition to Rockhaven’s portfolio and gives the Company another exceptional asset in a proven gold belt. The high grade nature of the known showings and the potential for more discoveries make this a particularly attractive project” says Rockhaven’s CEO Matt Turner. “Exploration and development logistics are very favourable.”
The technical information in this news release has been reviewed by W.A. Wengyznowski, P.Eng., a qualified person for the purpose of National Instrument 43-101.
For additional information concerning Rockhaven Resources Ltd. or its various exploration projects please visit the Company’s website at www.rockhavenresources.com or contact:
Matthew Turner, CEO
Rockhaven Resources Ltd.
T: 604-688-2568
mturner@nordacres.com
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.
CAUTIONARY NOTE: This news release includes certain “forward-looking statements”. Other than statements of historical fact, all statements included in this release, including, without limitation, statements regarding future plans and objectives of Rockhaven are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those expected by Rockhaven are those risks described herein and from time to time, in the filings made by Rockhaven with Canadian securities regulators. Those filings can be found on the Internet athttp%3A%2F%2Fwww.sedar.com.