North of 60 Mining News - The mining newspaper for Alaska and Canada's North

Rockhaven Resources Ltd. June 28 reported the start of a 16,000-meter drill program at its Klaza gold property in southern Yukon. In addition to drilling, the 2017 program will include geophysical surveys, soil geochemical sampling and metallurgical test work.

Klaza 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 lb) zinc.

This year's drilling will include infill and step-out drilling to further define and expand this near-surface resource.

Material collected from this drilling will be used in advanced metallurgical and pre-concentration test work to optimize processing, reduce costs and lower cut-off grades.

The company will also test several geophysical and soil geochemical targets near the resource.

"The main objectives of the program are to increase the confidence of potential open-pit mineral resources from inferred to indicated, explore for new gold discoveries and continue to advance the metallurgical and engineering facets of the Klaza project," said Rockhaven President and CEO Matt Turner.

In May, the company closed a C$3.5 million financing. Coeur Mining Inc. contributed to this financing, paying C$2.05 million for 11.4 million Rockhaven shares.

Rockhaven expects to close a second and final tranche of the financing in the coming days.

-SHANE LASLEY