VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 1, 2017) - George W. Sanders, President of Goldcliff Resource Corporation (TSX VENTURE:GCN)(OTC PINK:GCFFF) ("the Company") reports that geological modeling indicates that the new, near surface gold zone projects down dip to a previously drilled hole, located 350 feet to the north of the Wilson patented claims. This hole, WS 17, was drilled in 1991 by a previous operator and hosts resource grade gold mineralization of 0.03 opt Au over 45 feet at a vertical depth of 205 ft. This new zone is open to the north in the interpreted down dip plane of the zone.
All data from the recent drill program on the Wilson patented claims, as reported in a news release dated February 9, 2017, have been incorporated into the Pine Grove geological model and data base. This recent drill program identified, in 5 of the holes, consistent gold mineralization beyond the existing resource limits and above, in an area previously designated as waste (see table below). Average gold grades in these drill holes were consistent with the Wilson resource grade of 0.035 opt Au (1.20 g/t Au) (Amended & Restated Technical Report, February 4, 2015 by Telesto).
A preliminary drill program to test the down dip continuity has been planned and is currently being refined. The zone continues beyond the patented claims onto unpatented lode claims, also 100% owned by the Pine Grove joint venture. An application to permit this drill program is being prepared for submission to the United States Forest Service.
The recent drill program totalled 6,962.5 feet (2,132.6 metres) in 14 reverse circulation holes. The intercepts in the new zone are included in the table below.
|Hole No.||Angle |
|1991 Teck Hole WS-17||-90||205||250||45||0.030||13.72||1.03|
Goldcliff is earning a 40% joint venture interest in the Pine Grove project from Lincoln Mining Corp, by spending US$1.4 million over three years. Lincoln is the project operator.
Paul Saxton P. Eng., and Frank Hrdy P. Geo, Qualified Persons under NI 43-101 have reviewed, prepared, and approved the scientific technical disclosure contained in this news release.
GOLDCLIFF RESOURCE CORPORATION
George W. Sanders, President
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