Rockhaven Resources Ltd. ("Rockhaven") is pleased to announce the discovery of a new, near-surface gold-rich vein zone at its 100% owned Klaza property, located in the Dawson Range Gold Belt of southern Yukon. The new zone contains three veins and has been named the Rex Zone. It lies 1,100 m south of the Eastern BRX Zone, the closest of the zones comprising the current mineral resource. The area around the Rex Zone had only seen surface exploration prior to the discovery hole (KL-16-314).
The discovery of the new gold-rich structures was made while testing a strong chargeability anomaly at depth within the Kelly porphyry zone. The Rex Zone is distinguished from other vein zones on the property by moderate copper values but only trace to background levels of lead, zinc and arsenic.
The following table lists significant vein intersections within hole KL-16-314.
"The fortuitous discovery of multiple, closely spaced veins in an under-explored part of the property further demonstrates the vast untested potential of the Klaza project," stated Matt Turner, Rockhaven's CEO. "Much work still has to be done to fully evaluate the Kelly porphyry target, and fortunately this work can be done in conjunction with the further exploration of the Rex Zone."
Two diamond drill holes (KL-16-309 and KL-16-314), totalling 904.58 m, were completed within the Kelly porphyry zone in order to test the core area of the 2,400 m by 2,200 m chargeability anomaly reported in Rockhaven's news release dated August 10, 2016. Mineralization in these holes consists primarily of pyrite with lesser chalcopyrite and rare coarse-grained native arsenic.
Assays from intervals within the chargeability anomaly yielded weakly elevated levels of copper and gold. The types of alteration and mineralization identified within these holes are consistent with those found in calc-alkaline porphyry deposits. Additional diamond drilling is needed to fully test this very large geophysical anomaly.
Investor Relations Engagement
Kin Communications Inc. ("Kin") has been engaged to provide Rockhaven with investor relations services. Kin is one of Canada's leading full-service investor relations firms. It has a proven record of generating interest in its clients, building active shareholder bases, and effectively differentiating its clients from their peers.
Kin will assist Rockhaven with its corporate communications, marketing and ongoing relationships with shareholders, finance professionals and the media.
Kin will be paid a monthly fee of $7,500 for an initial term of six months and then month-to-month thereafter. Subject to regulatory acceptance, Kin will also be granted 250,000 stock options, exercisable at $0.25 per share. The options will vest at a rate of 25% per quarter from the date of granting. Rockhaven has been advised that neither Kin nor its principals currently own any Rockhaven shares.
All analyses for rock and core samples from the 2016 program were performed by ALS Minerals with sample preparation in North Vancouver or Terrace and assays and geochemical analyses in North Vancouver. Core samples were routinely analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 48 other elements by inductively coupled plasma-mass spectrometry (ME-MS61). Samples that exceeded the detection limits of the routine methods were assayed for silver, copper, lead and zinc by inductively coupled plasma-atomic emission spectroscopy (Ag/Cu/Pb/Zn - OG62) and gold by gravimetric analysis (Au-GRA22). Rigorous procedures were in place regarding sample collection, chain of custody and data entry. Certified assay standards, coarse reject duplicates, field duplicates and blanks were routinely inserted into the sample stream to ensure integrity of the assay process. All of the results reported have passed the QAQC screening.
The 2016 program was managed by Archer, Cathro & Associates (1981) Limited (Archer Cathro). Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer Cathro and qualified person for the purpose of National Instrument 43-101.