Rockhaven spikes again on Kalza hits

Vancouver – Since early September, Rockhaven Resources’ (RK-V) share price has been on the up and up as it continues to release drill results from its Kalza gold-silver project in the Yukon.

First there were the trenching and sampling results that included 20.1 metres carrying 2.87 grams gold per tonne and 42.3 grams silver, and 17.7 metres grading 2.56 grams gold and 30.4 grams silver, all the while expanding the Klaza zone.

Then the first diamond drill holes from the company’s 11 hole, 1600-metre drill program were released in November, also from the Klaza zone. Holes 1 and 2, testing the northern edge of the footwall, hit only marginal gold and silver. Hole 3, however, which was collared in the hangingwall rocks and tested the full width of the Klaza zone, hit 50.3 metres grading 1.1 grams gold and 23.5 grams silver from 62.1 metres depth, including 19.8 metres carrying 2.29 grams gold and 36.1 grams silver.

Now in the latest results, hole 7 hit 36.5 metres averaging 3.23 grams gold and 117.7 grams silver from 128 metres depth, and included a 15.3-metre interval carrying 7.2 grams gold and 260 grams silver. The hole was drilled 100 metres west of hole 3, while the Klaza zone is still open along strike in both directions and downdip.

Also from the latest release, hole 4 returned 1.2 metres grading 5.07 grams gold and 53.6 grams silver, hole 5 hit 28.5 metres carrying 0.77 gram gold and 14.8 grams silver, and hole 6 cut 3.4 metres averaging 32.52 grams gold and 34.3 grams silver. Assays from the last three holes of the program are expected in the new year.

Rockhaven describes the mineralized zone as consisting of epithermal veins that parallel coeval quartz-feldspar porphyry dykes.  

So far four laterally contiguous zones have been identified on a 1500-metre wide, northwest trending structural corridor, with the Klaza zone the most explored.

The company already has an 8,000-metre drill program planned for next spring to follow up on the recent hits on the road-accessible, 30-sq-km property.

To pay for the upcoming drill program, Rockhaven recently completed a $6 million financing. The company issued 8.6 million units at 70¢ each, containing both a share and half-warrant exercisable at a dollar. Following the financing, the company had 40 million shares outstanding or 52.5 million fully diluted.

Roughly 25% of shares are held by Strategic Metals (SMD-V), and both companies are part of Strategic Exploration Group. The group, with counts ATAC Resources (ATC-V) and Arcus Development (ADG-V) as its other two members, is a collection of juniors focused on northwestern Canada.

Since releasing the first results from Klaza in late August, Rockhaven’s share price has climbed from under 20¢ to a peak in mid-day trading of $1.10. The day the latest results were released, the company’s stock price climbed 18¢ to close at 93¢ on 1.6 million shares traded.