CSE:GRAY

Graycliff Exploration Continues Intercepting Near Surface Gold Mineralization with Hole 10 Grading 5.51 g/t Gold over 4.0 metres

Graycliff Exploration Limited (the "Company" or "Graycliff") (CSE:GRAY)(OTCQB:GRYCF)(FSE:GE0) is pleased to announce additional assay results from its over 2,000 metre ("m") phase two core drilling program on the Company's Shakespeare Gold Project located on the prolific Canadian Shield near Sudbury, Ontario

Drill Hole J-10-21 intersected two mineralized intervals eight metres ("m") apart with the higher interval returning 5.51 g/t gold ("Au") over 4.0 m, including 24.60 g/t Au over 0.55 m. Drill Holes J-11-21 and J-14-21 were stopped after of 30 m as they intercepted the historic underground workings or a fault. Drill Holes J-12-21 and J-13-21 were heavily fractured and core recoveries were poor. The significant intervals for Holes J-10-21 through J-14-21 are detailed below:

Drill Hole

From (m)

To (m)

Width (m)1

Au (g/t) 2

J-10-21

36.00

40.00

4.00

5.51

including

39.50

40.00

0.55

24.60

48.00

51.00

3.00

3.57

J-11-21

No Significant Intervals *

J-12-21

No Significant Intervals*

J-13-21

No Significant Intervals*

J-14-21

3.00

4.00

1.00

1.44 *

1 - Reported intervals are down-hole lengths and not true thicknesses. True width of the mineralization cannot be determined due to the early-stage nature of the current program.

2 - Length-weighted average grades are calculated using un-capped gold assay data.

*See comments in paragraph above

Table 1 - Highlighted Results from Hole J-10-21 to J-14-21

President and CEO, James Macintosh stated: "The continued success we are having at Shakespeare is very encouraging. We now have anomalous gold intervals in 9 out 14 holes and we are getting some very significant widths and grades in several of those holes. As we have mentioned before, we continue to see visible gold in some of the drill core and we look forward to receiving those results in the coming weeks. All of this information will be going into the 3D model that we have commissioned. I strongly believe that at current prices, Graycliff is fundamentally undervalued considering the continuing success of our ongoing drill program"

Qualified Person

Bruce Durham, P.Geo, is a Qualified Person, as that term is defined by Canadian regulatory guidelines under NI 43-101, and has read and approved the technical information contained in this press release.

Figure 1 - Holes J-10-21 to J-14-21 Location and Cross Section

About Graycliff Exploration Limited

Graycliff Exploration is a mineral exploration company focused on its 1,025 hectares of prospective ground, located roughly 80 kilometres west of Sudbury on the prolific Canadian Shield. The Company's Shakespeare Project consists of one crown patented lease, two crown leases and 40 claims on a property associated with the historic Shakespeare Gold Mine, which operated from 1903 to 1907. Graycliff's Baldwin Project is adjacent to the east and is comprised of 68 claims covering 1,500 hectares.

QA/QC Protocol: https://graycliffexploration.com/wp-content/uploads/2021/06/graycliffexploration-qa-qc-protocols-june-2021.pdf

For more information, contact investor relations at investors@graycliffexploration.com

On Behalf of the Board of Directors,

James Macintosh
President and CEO

Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release.

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

SOURCE: Graycliff Exploration Ltd.



View source version on accesswire.com:
https://www.accesswire.com/669029/Graycliff-Exploration-Continues-Intercepting-Near-Surface-Gold-Mineralization-with-Hole-10-Grading-551-gt-Gold-over-40-metres

News Provided by ACCESSWIRE via QuoteMedia

The Conversation (0)
graycliff exploration

Graycliff Exploration

High Grade Gold in the Shadow of a Historic Headframe

Trading Halt

Trading Halt

CuFe Limited (CUF:AU) has announced Trading HaltDownload the PDF here. Keep Reading...
Gold and silver bars on a scale with green upward arrow and "Weekly Editor's Picks" text.

Editor's Picks: Historic Week — Gold Breaks US$4,000, Silver Takes Out All-time High

It's been yet another historic week for gold, as well as silver.Gold broke through US$4,000 per ounce midway through the period, entering never-before-seen territory as the US government shutdown continued into a second week.Silver's milestone was perhaps even more impressive. The white metal... Keep Reading...
Gold bars stacked with financial chart background.

OPINION — Past is Prologue: Why the Next Decade Could Belong to Gold and the Miners

This opinion piece was submitted to the Investing News Network (INN) by John Newell who is an external contributor. INN believes it may be of interest to readers and has copy edited the material to ensure adherence to the company’s style guide; however, INN does not guarantee the accuracy or... Keep Reading...
Scales of justice, gavel, and law books on a desk.

Tudor Gold Sues BC, Seabridge Over Tunnel Rights in Golden Triangle

An ongoing land-use dispute in British Columbia’s mineral-rich Golden Triangle has escalated into a full-blown legal battle as Tudor Gold (TSXV:TUD,OTC Pink:TDRRF)takes the province and rival Seabridge Gold (TSX:SEA,NYSE:SA) to court over tunneling rights linked to one of Canada’s largest... Keep Reading...
Two 3D arrows, one black and one gold, merge and point upward on a white background.

Predictive Discovery and Robex to Merge, Combining West African Gold Projects

Australia-based Predictive Discovery (ASX:PDI) and Canadian company Robex Resources (ASX:RXR,TSXV:RBX,OTC Pink:RSRBF) have agreed on a merger of equals, creating West Africa’s new mid-tier gold producer.In a joint announcement, the companies said that Predictive Discovery will indirectly acquire... Keep Reading...
Gold bars and silver coins scattered on a surface.

Gold Price Breaches US$4,000, Silver Tests US$50

Gold marked a new price milestone on Wednesday (October 8), breaking US$4,000 per ounce. The spot price hit a fresh record, rising as high as US$4,056.14 in midday trading. Future prices for gold breached US$4,000 for the first time on Tuesday (October 7) and have continued to climb higher.The... Keep Reading...

Latest Press Releases

Related News