The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Rockhaven Resources Ltd. Drills 5.43 g/t Gold and 50 g/t Silver Over 14.80 m at Second Important Gold-Silver Zone-Klaza Project-Yukon

Wednesday, November 02, 2011

Rockhaven Resources Ltd. Drills 5.43 g/t Gold and 50 g/t Silver Over 14.80 m at Second Important Gold-Silver Zone-Klaza Project-Yukon09:00 EDT Wednesday, November 02, 2011VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 2, 2011) - Rockhaven Resources Ltd. (TSX VENTURE:RK) ("Rockhaven") is pleased to announce significant expansion of the BRX zone, a second linear gold – silver discovery that parallels the previously announced Klaza zone. The BRX zone is the most southerly mineralized zone discovered at Rockhaven's wholly-owned Klaza gold-silver property located in the Dawson Gold Belt of southern Yukon.Vein style mineralization was intersected at the BRX zone in 8 of 9 holes drilled in 2011. Highlights are as follows:Hole 37 - 5.43 g/t gold and 50 g/t silver over 14.80 m Hole 29 - 3.29 g/t gold and 407 g/t silver over 3.00 mHole 39 - 23.5 g/t gold and 239 g/t silver over 1.65 mA complete list of significant intervals is shown in the table below. A long section showing drill hole and excavator trench results can be found on Rockhaven's website (www.rockhavenresources.com).The nine drill holes tested the BRX zone along section lines spaced 150 to 225 m apart and across a strike length of 1.3 km. Eight of the nine drill holes intersected significant gold - silver mineralization approximately 25 to 150 m down-dip of surface. The BRX zone has been traced over a strike length of 2 km by diamond drilling and excavator trenching and is open to extension along strike in both directions and down dip.The Klaza property hosts four parallel, 1 to 75 m wide, structural zones of gold-silver mineralization. All zones consist of quartz-sulphide veins, breccias and fracture networks, which are spatially associated with quartz-feldspar porphyry dykes that intrude granitic country rocks. The zones exhibit exceptional lateral continuity and collectively define a 1.5 km wide by 8 km long northwesterly-trending structural corridor. They exhibit features typical of both epithermal and mesothermal mineralization.From (m)To (m)Interval (m)*Gold (g/t)Silver (g/t)KL-11-2256.2061.405.200.47124KL-11-23109.00110.551.553.99229KL-11-2472.0073.371.373.1572KL-11-2931.9041.249.341.95147Including31.9034.903.003.29407KL-11-33120.30121.641.345.51180KL-11-35112.42115.443.023.0384126.74130.603.865.8592KL-11-3781.1395.9314.805.4350Including81.1382.831.7011.05133Including88.9590.171.2234.00298Including94.6895.931.2513.197KL-11-39151.29152.941.6523.50239* Interval represents the downhole intersection length and true widths are estimated to be approximately 80-90% of the interval.In 2011, a total of 13,630 m (52 holes) of diamond drilling and 2,940 m (21 holes) of reverse circulation percussion drilling was completed on the Klaza property. Assay results from 55 holes are pending and will be released after results have been compiled and interpreted.Additionally, Rockhaven has signed a property purchase agreement to acquire 25 mineral claims immediately adjoining the southern boundary of the Klaza property. Rockhaven will pay the vendors $175,000 for 100% ownership of these claims. The claims are subject to an underlying 1.5% net smelter return royalty interest held by a third party. With the addition of the new claims, the Klaza property now comprises a 66 sq km area.Core samples from the Klaza property were processed in 36 sample batches with each batch including two assay standards, two blank samples, and one duplicate sample. Analytical work is being done by ALS Chemex with sample preparation in Whitehorse and assays and geochemical analyses in North Vancouver. All core samples were initially analyzed for gold by fire assay followed by atomic absorption (Au-AA24) and 35 other elements by inductively coupled plasma-atomic emission spectroscopy (ME-ICP41). Overlimit values for gold were determined by fire assay and gravimetric finish (Au-GRA22) and silver values were determined using Ag-OG46. All gold and silver grades reported in this release were calculated from the assay results. All standard, blank and duplicate samples passed QAQC reviews.The 2011 program is being conducted by Archer, Cathro & Associates (1981) Limited. Technical information in this news release has been reviewed by Heather Smith, B.Sc., P.Geo., a qualified person for the purpose of National Instrument 43-101.Rockhaven Resources Ltd. is well funded company focused on growth through exploration of its own projects and continues to work towards adding new advanced stage projects to its portfolio.For additional information concerning Rockhaven Resources Ltd. or its various exploration projects please visit Rockhaven's website at www.rockhavenresources.com.FOR FURTHER INFORMATION PLEASE CONTACT: Matthew TurnerRockhaven Resources Ltd.CEO604-688-2568mturner@nordacres.comwww.rockhavenresources.comNeither 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.