Business
Goldcliff Extends Pine Grove Mineralization Beyond Resource Shell
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 9, 2017) - George W. Sanders, President of Goldcliff Resource Corporation (TSX VENTURE:GCN)(OTC PINK:GCFFF) ("t
About this update from Goldcliff Resource Corporation
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 9, 2017) - George W. Sanders, President of Goldcliff Resource Corporation (TSX VENTURE:GCN)(OTC PINK:GCFFF) (\"the Company\") is pleased to report that results from the recent drill program on the Wilson patented claims at Pine Grove, Nevada have extended resource grade gold mineralization beyond the limits of the existing resource shell. The drilling also discovered a new, shallow zone of resource grade mineralization in what was previously assigned as waste. Highlighting these results is hole WL-114 which returned 0.154 opt over 50 feet (5.28 g/t over 15.24 metres) starting at 205 feet, and including two separate 5-foot (1.5 metre) intervals grading 0.505 (17.3 g/t) and 0.604 opt (20.7 g/t) Au. The drilling also confirmed a new, shallow dipping, upper gold zone hosted in granodiorite, the Pine Grove host rock. This new gold zone appears open down dip for up to 400 ft. northward towards an old mineralized hole (WS-17) drilled by Teck Resources in 1991. Details of this and the other holes are contained in the table below. Gold grades encountered in this new upper zone and in other zones are consistent with the resource grade. The Wilson patented claims host a measured and indicated resource of 1,514,000 tons grading 0.035 opt gold at a cut-off grade of 0.007 opt gold. Inferred resources are 154,000 tons grading 0.042 opt gold. When combined with the resources outlined on the Wheeler patented claims, the Pine Grove project hosts measured and indicated resources of 3,373,000 tons grading 0.04 opt gold. (Amended & Restated Technical Report, February 4, 2015 by Telesto). Five of the drill holes (WL-105, 107, 108, 112, & 117) outline the new upper gold zone. Details of the intercepts for these and other holes are contained in the table below. A drill hole location map is available for viewing on the Company website at www.goldcliff.com/projects/pine-grove/drilling/. This new zone remains open to the north northeast and trends onto unpatented lode claims 100% owned by the Pine Grove joint venture. Significant Drill Hole Intercepts Hole No. Angle From (ft.) To (ft.) Intercept (ft.) Gold opt Intercept (m) Gold gpt WL-105 -90° 90 120 30 0.062 9.14 2.06 WL-107 -90° 120 150 30 0.0...