Rockhaven Resources Ltd. ("Rockhaven") is pleased to announce 2013 exploration plans for its 100% owned Klaza gold-silver property, located in the Dawson Gold Belt of southern Yukon.
The Phase I program will consist of 6,000 m of excavator trenching focused on:
- Expanding the strike lengths of the eight main mineralized zones through step-out trenching;
- Better defining key structural controls and mineralization styles through selective infill trenching across some of the main zones; and,
- Discovering new mineralized zones by testing geophysical and soil geochemical anomalies in other areas of the property that have not been systematically explored to date.
Drilling completed by Rockhaven between 2010 and 2012 at the Klaza property has identified eight main mineralized structural zones and numerous subsidiary structures within a corridor that is 1800 m wide and 2400 m long. Individually, the main zones range from 1 to 75 m in width and are continuously mineralized over strike lengths of 250 to 2400 m. The zones have been traced over a cumulative strike length of 8600 m and all remain open for expansion along strike and to depth.
Detailed evaluation of drill results and measurements taken from trench exposures has identified two main structural orientations that appear to control mineralization. The best gold mineralization appears to be localized in areas where the two, slightly oblique structural trends converge. These mineralized zones are marked by linear magnetic lows with coincident soil geochemical anomalies. Similar anomalies occur elsewhere on the property and will be tested by trenching for the first time in 2013.
Prospecting and geological mapping will be completed in other areas of the property to define additional targets for drilling or trenching. Baseline environmental and heritage studies will continue to further advance the road-accessible Klaza property toward the permitting process.
In order to assist in funding the proposed Phase I exploration program at Klaza, Rockhaven has negotiated a $500,000 non-brokered flow-through private placement. The financing will consist of the sale of 3,333,334 shares at a price of $0.15 per share. It is fully subscribed and no warrants or finder's fees are connected with the financing.
Closing of the private placement is subject to TSX Venture Exchange acceptance. Securities issued under the private placement will be subject to a hold period which will expire four months and one day from the date of closing.
A follow-up Phase II program will include diamond drilling and geophysical surveys. The timing for this program will depend on results from Phase I and market conditions.
All significant assays from 2010, 2011 and 2012 diamond drilling can be viewed on the Company's website (www.rockhavenresources.com), including a 3D model, geological cross-sections and assay histograms.
The 2013 program will be 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.