Mining Explorers 2016: Rockhaven Resources Ltd.

Rockhaven Resources Ltd. focused its 2016 exploration program on further defining and expanding the high-grade gold-silver resources at Klaza with the aim of bolstering the outcome of a preliminary economic assessment prepared for the project in southern Yukon Territory.

Including the 56 holes drilled in 2015, Klaza now hosts 9.42 million metric tons of inferred resource grading 4.48 grams per metric ton (1.36 million ounces) gold, 89.02 g/t (26.96 million oz.) silver, 0.75 percent (155.4 million pounds) lead and 0.95 percent (197.8 million lbs.) zinc.

The average life-of-mine operating cash costs are estimated to be US$652 per gold-equivalent oz. produced, after factoring in the credits for the other metals produced, and total all-in sustaining cost is anticipated to be US$966 per gold-equivalent oz. Additional metallurgical work, resource expansion and infill drilling are areas with the potential to enhance the economics of mining Klaza.

In early August, Rockhaven had wrapped up the 2016 field program, which included 8,427 meters of drilling in 44 holes; 800 meters of excavator trenching; and an induced polarization geophysical survey. Early results from this work revealed the discovery of the Stroshein zone, a high-grade gold structure that lies between partially delineated resource blocks in the eastern portion of the Klaza vein system.

Assays from early drilling at Stroshein include 23 g/t gold over 0.59 meters in hole 295; and 25.9 g/t gold over 0.51 meters within a broader zone of 5.29 g/t gold over 3.09 meters in hole 300.

Rockhaven said the IP survey identified a large, intense chargeability anomaly that corresponds with an area of known porphyry-style copper-gold-molybdenum mineralization. Drilling this anomaly, however, turned up a new zone of high-grade gold named Rex.

KL-16-314, the first hole drilled at Rex, cut 1.39 meters of 5.9 grams per metric ton gold, 1.74 g/t silver and 0.006 percent copper from 32.61 meters; 1.42 meters of 10.55 g/t gold, 44.7 g/t silver and 0.315 percent copper from 39.75 meters; and 1.48 meters of 7.74 g/t gold, 23.9 g/t silver and 0.641 percent copper from 57 meters.

"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," said Rockhaven CEO Matt Turner. "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."

Rex lies 1,100 meters south of the Eastern BRX zone, the closest of the zones in the current mineral resource.

Rockhaven is a member of the Strategic Exploration Group, a collection of junior resource companies focused on exploring northwestern Canada. Members of the group enjoy a close working relationship with Archer, Cathro & Associates (1981) Ltd., a geological consulting firm with extensive knowledge and exploration expertise in the Yukon Territory and northern British Columbia.

-SHANE LASLEY