Rockcliff Metals Corporation (CSE: RCLF), largest junior landholder in the Flin Flon-Snow Lake greenstone belt in Manitoba, has completed the required expenditures necessary for the company to earn a 100% ownership interest in the Bur Property, pursuant to the company’s option agreement with Hudbay Minerals Inc. from September 2016.

According to a news release, the Bur Property hosts the Bur zinc-copper deposit. Recent drilling intercepted near surface high-grade zinc-copper mineralization, and both historic and recent drilling throughout the Bur Property has encountered near surface, disseminated, semi-massive, and massive sulphide mineralization below shallow overburden.

As of October 20, 2020, Rockcliff has incurred more than $3 million in expenditures required to earn its 100% interest in the property.

Hudbay has a 12-month back-in right, which expires in August 2021. This gives Hudbay the right to reacquire a 70% ownership interest in the property, by making cash payments to Rockcliff totalling $3,000,000 plus two times the amount of expenditures incurred by Rockcliff during the back-in waiting period, to a maximum of $1,500,000. If Hudbay does not exercise the right, Rockcliff, as the operator, shall pay 2% of net smelter return royalty from the date of the commencement of commercial production.

Rockcliff is a well-funded Canadian resource development and exploration company; it has a fully functional +1,000 tonne per day leased processing and tailings facility as well as several advanced-stage, high-grade copper and zinc dominant VMS deposits in the Snow Lake area of central Manitoba. The company’s extensive portfolio of properties totals approximately 4,500 square kilometres and includes eight of the highest-grade, undeveloped VMS deposits in the Flin Flon-Snow Lake Greenstone belt