Rockhaven Announces 12,000 m Diamond Drill Program at its Klaza Gold-Silver Project, Yukon Focus on Exploration Discoveries plus Continued Definition of Existing Mineral Resources
1016 – 510 West Hastings Street
Vancouver, BC V6B 1L8
604-687-2522
www.rockhavenresources.com
Rockhaven Announces 12,000 m Diamond Drill Program at its Klaza
Gold-Silver Project, Yukon
Focus on Exploration Discoveries plus Continued Definition of Existing Mineral
Resources
May 10, 20 21 - Rockhaven Resources Ltd. (TSX-V:RK) (“Rockhaven”) is pleased to
announce the 2021 exploration plans for its 100% -owned and road accessible Klaza Project ,
located in the Dawson Rang e Gold Belt of southern Yukon. The Klaza Project hosts high-grade
epithermal gold and silver mineral resources with positive economics illustrated by the
Preliminary Economic Assessment completed in 2020 (See PEA Press Release dated July 13,
2020).
“The 2021 work program combines the hunt for new, large-scale discoveries with continued de-
risking of the Klaza Project through focused infill drilling, metallurgical test work and
engineering studies,” stated Matt Turner, Rockhaven’s CEO. “ This program is intended to
advance the known deposits in support of a planned preliminary feasibility study while
simultaneously evaluating the potential for new areas of mineralization extending from the
porphyry core to the adjacent high grade gold-silver epithermal vein field, which currently has an
impressive 15 km2 extent.”
The planned 2021 exploration program is fully funded and is scheduled to begin in early June. It
will utilize two diamond drills and include 5,000 m of drilling focused on the continued
conversion of resources from inferred to indicated and 7,000 m designed to expand the scope of
the project by testing high priority exploration targets outside the current mineral resources.
Exploration Drilling
Priority exploration targets include bulk tonnage copper-gold-molybdenum-silver porphyry
targets that are likely the main driver for mineralization in the Klaza district and yet are relatively
under explored. Porphyry-style targets to be tested in 2021 are:
• Kelly Porphyry Target – Porphyry copper-gold-molybdenum-silver
mineralization identified by widely spaced drilling over a 4 km2 area will be the
focus of two fences of holes testing chargeability high /resistivity low IP
anomalies that coincide with magnetic lows and strong copper, molybdenum and
gold soil geochemical anomalies. This target lies immediately to the southeast of
the vein system hosting the Klaza Deposit and has lithogeochemical and alteration
signatures consistent with bulk tonnage porphyry-style mineralization.
• Etzel/Cyprus Porphyry Target – This second lightly explored, bulk -tonnage
target is located in a valley bottom, southeast of the Kelly Porphyry. It hosts gold
and copper-gold mineralization spread over a 4½ km2 area that will be tested by
four holes.
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Rockhaven also plans to continue to exp lore for extensions to known higher grade gold-silver
vein systems, including the high-grade Western BRX and newly discovered Rusk vein complex:
• Rusk – This vein complex is located 3 km south of the Klaza deposit and was
discovered in 2020 when drilling i ntersected several zones of gold-silver-lead-
zinc mineralization over thicknesses of 1-10 m. The 2021 drilling will evaluate
the strike extent and grade continuity of the strongest veins, with initial step out
holes planned to test near surface mineralization over a 400 m strike length.
• Western BRX Extension – The Western BRX Zone is the highest grade gold
zone identified on the property to date and is only lightly explored to the west of
the current mineral resource. The 2021 drilling will test for strike extensions of
the vein to the west , where coincident magnetic and VLF -EM anomalies have
been defined which are similar to those that mark the main mineralized structures
at Klaza, including the Western BRX vein.
• Western Chevron – This vein is l ocated south of the Western BRX Zone in the
same fault block. This promising target has only been tested by two holes and
one trench over a 500 m inferred strike length, all of which produced strong gold-
silver intercepts.
Specifics relating to the targets that will be tested by the 2021 drill program are provided in the
following sections of this news release . Detailed maps showing the planned drill hole locations
can be viewed on the Rockhaven website at www.rockhavenresources.com.
Klaza Deposit Infill Drilling
Infill drilling of the Klaza Deposit will focus on upgrading inferred resources into indicated
resources. At present, 60% of the total mineral resources at Klaza are classified as indicate d and
40% as inferred. A total of 5,000 m in 33 holes is planned for 2021, which follows up on the
previous infill diamond drilling program where upgrading was done at a low cost ($4/ounce) and
resulted in an increase in total contained gold, with the indicated mineral resources having higher
average gold grades than the corresponding area previously classified as inferred mineral
resources. This drilling will also support additional m etallurgical test work and engineering
studies as the Klaza project continues towards Pre-Feasibility.
Exploration Target Descriptions
The following sections provide additional details concerning the exploration targets prioritized
for drilling in 2021.
Rusk Target
The Rusk Target is located 3 km south of the Klaza D eposit and is outlined by a 2.6 km2, highly
elevated arsenic-in-soil anomaly, which is adjacent to the largest placer gold mine in the Mount
Nansen Gold Camp. Drilling in 2020 discovered numerous structures hosting mineralized veins
and breccias. The widest structure was cut 25 m below surface in KL-20-470,and averaged 1.42
g/t gold, 30.7 g/t silver, 0.48% lead and 0.60% zinc over 9.80 m. A second, 150 m deeper hit
on what is believed to be the same structure in KL-20-471, returned 2.05 g/t gold, 129 g/t silver,
2.29% lead and 4.67% zinc over 5.65 m. The thicknesses encountered in both holes are very
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encouraging and this structure will be the main focus of 2021 follow-up work, with five diamond
drill holes proposed to test 400 m of its strike extent. An additional hole is planned to the north
to evaluate a number of other veins in the footwall of the main structure, which roughly coincide
with a VLF-EM conductor.
Kelly Porphyry Target
The Klaza mineralized system comprises a zoned epithermal vein complex superimposed on two
different but probably related porphyry systems, the Kelly and Etzel/Cyprus Porphyry Targets.
The porphyry potential of the se areas has been lightly explored intermittently since 1971, with
locally encouraging results . Recent geological studies confirm the presence of intrusive rocks
within the Kelly and Etzel/Cyprus areas, which represent a protracted magmatic history spanning
15 million years and are contemporaneous with intrusions associated with other large
mineralized hydrothermal systems within the Dawson Gold Belt, including the very large Casino
copper-gold porphyry deposit located 100 km northwest of Klaza. The intrusive suites analyzed
at Klaza h ave lithogeochemical and alteration signatures prospective for porphyry c opper-gold
mineralization. This year’s program will be the first comprehensive test of the Kelly Porphyry
target.
The Kelly Porphyry target area is defined by a very large copper-molybdenum-gold soil
geochemical anomaly with coincident magnetic lows, chargeability highs (>70 ms) and
resistivity lows (<100 ohm -m). To test these targets, t hirteen drill holes are planned in 2021 ,
with most of these holes along two section lines across the Kelly Porphyry Target . The drill
holes are designed to test two trends that host most of the known mineralization in the belt, as
well as geophysical features and structural orientations observed in nearby trenches.
Etzel/Cyprus Porphyry Target
The Etzel Zone, located only 1 km east of the Kelly Porphyry, is defined b y gold, arsenic and
silver-in-soil anomalies. The Cyprus Porphyry, located 2 km southeast of Etzel, is a second
porphyry system where historical drilling returned promising results , including 56.39 m of
0.17% copper and 0.02% molybdenum.
Drilling at the Etzel Zone in 2020 identified both high-grade structures, which included 9.69 g/t
gold, 82.74 g/t silver and 2.62% copper across 1.50 m (KL-20-483) and 838 g/t silver over
1.50 m (KL-20-484) as well as broader sections of bulk tonnage style mineralization averaging
0.25 g/t gold and 17.21 g/t silver over 81.63 m (KL-20-484) and 0.15 g/t gold and 0.7 g/t silver
across 162.51 m (KL-20-489). There is a trend toward higher grade gold within the Etzel Zone
as it approaches the Cyprus Porphyry ta rget. Testing this trend and determining the relationship
between the Etzel Zone and Cyprus Porphyry will be the purpose of four holes in 2021.
Western BRX Extension
Although the Western BRX Zone is the most richest vein discovered to date at Klaza and is one
of the main economic drivers in the Klaza Project PEA (estimated payable production of 419,000
oz gold and 6.7 Moz silver coming from the Western BRX alone), very little work has been done
to follow the mineralized structure along trend towards the west. A seven hole drill fence is
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planned to test areas with geophysical signatures that are similar to those seen at the Western
BRX Zone (magnetic lows and coincident VLF-EM conductors).
Western Chevron
The Western Chevron target lies 700 m to the south of the Western BRX Zone, within the same
fault block, which suggests it could have been deposited in a similar hydrothermal environment .
The target has only been tested by one trench and two diamond drill holes. Results from drilling
returned 3.09 g/t gold, 78.6 g/t silver, 1.93% lead and 1.04% zinc over 3.38 m (KL-12-108)
and 3.97 g/t gold, 94 g/t silver, 1.35% lead and 1.44% zinc over 1.26 m (KL-12-130). The
only trench that cut this same structure averaged 3.79 g/t gold, 190.4 g/t silver, and 1. 35% lead
over 9.2 m, including 6.24 g/t gold, 319 g/t silver and 1.85% lead over 2.61 m (true width). A
total of five holes are proposed to test the structure over an approximate 500 m strike length.
COVID-19 Protocols
In order to safely carry out the 2021 exploration program, Rockhaven has instituted extensive
COVID-19 protocols designed to protect the workers at Klaza and the citizens of nearby
communities. Rockhaven will continue to follow all recommendations from Yukon’s Chief
Medical Officer.
Qualified Persons
Technical information in this news release has been approved by Matthew R. Dumala, P.Eng., a
geological engineer with Archer, Cathro & Associates (1981) Limited and qualified person for
the purpose of National Instrument 43-101.
About Rockhaven
Rockhaven Resources Ltd. is a well -funded explorer focused on the exploration and
development of its 100%-owned, camp-scale Klaza Property, which hosts the Klaza Deposit and
numerous lightly explored exploration targets. The Klaza Deposit has indicated mineral
resources of 4.5 Mt containing 686,000 oz gold and 14.1 million oz silver at grades of 4.8 g/t
gold and 98 g/t silver, and inferred mineral resources of 5.7 Mt containing 507,000 oz gold and
13.9 million oz silver at grades of 2.8 g/t gold and 76 g/t silver . An updated Preliminary
Economic Assessment of the Kl aza deposit completed in 2020 returned a Post -Tax NPV(5%) of
CAD$378 million and an IRR of 37%, using US$1450/oz gold and US$17/oz silver (see Klaza
Property Technical Report with an effective date of July 10, 2020 and titled, “Technical Report
and Preliminary Economic Assessment Update for the Klaza Property, Yukon, Canada.” which
can be viewed at www.sedar.com under the Rockhaven profile or on the Rockhaven website at
www.rockhavenresources.com.).
Matthew Turner
President, CEO and Director
Rockhaven Resources Ltd.
T:604-687-2522
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THIS RELEASE.
Information contained in t his news release contains forward -looking statements. These
statements reflect management's current estimates, beliefs, intentions and expectations; they are
not guarantees of future performance. Rockhaven cautions that all forward -looking statements
are inherently uncertain and that actual performance may be affected by a number of material
factors, many of which are beyond the control of Rockhaven. Such factors include, among other
things: risks and uncertainties relating to exploration and development, the abili ty of Rockhaven
to obtain additional financing, the need to comply with environmental and governmental
regulations, fluctuations in the prices of commodities, operating hazards and risks, competition
and other risks and uncertainties, including those descr ibed in Rockhaven’s financial statements
available under the Rockhaven profile at www.sedar.com. Accordingly, actual and future events,
conditions and results may differ materially from the estimates, beliefs, intentions and
expectations expressed or implied in the forward -looking information. Except as required under
applicable securities legislation, Rockhaven undertakes no obligation to publicly update or revise
forward-looking information.