graycliff exploration news

Graycliff Exploration Intersects High-Grade Interval in Hole 21 of 19.38 g/t Gold over 4.20 Metres at Shakespeare Project, Ontario

Graycliff Exploration Limited (the "Company" or "Graycliff") (CSE:GRAY)(OTCQB:GRYCF)(FSE:GE0) is pleased to announce additional assay results from drilling on its Shakespeare Gold Project located on the prolific Canadian Shield near Sudbury, Ontario. The final results are from the 2,200-metre Phase Two program that focused on defining the extent of gold mineralization proximal to the historic Miller Shaft where initial gold mining took place more than 100 years ago

Drill Holes J-21-21 intersected a mineralized interval of 19.38 g/t gold ("Au") over 4.20 metres, including 13.10 g/t Au over 1.0 m and 112.00 g/t over 0.60 metres. Significant intervals for holes J-18-21 to J-21-21 are detailed below:

Drill Hole

From (m)

To (m)

Width (m)1

Au (g/t) 2

J-18-21

30.00

32.00

2.00

1.30

J-19-21

No Significant Intervals

J-20-21

No Significant Intervals

J-21-21

138.00

142.20

4.20

19.38

Including

139.00

140.00

1.00

13.10

And

140.80

141.40

0.60

112.00

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.

Table 1 - Highlighted Results from Hole J-18-21 to J-21-21

President and CEO James Macintosh stated: "Drill hole J-21-21, which showed significant visible gold in the drill core, returned another great result that was also one of our deeper mineralized intersections in the first two phases. This continues to support our theory that the deposit is open at depth and along strike. Results for the Phase Two drilling are now complete, and we are shifting our focus to Phase Three, which has been underway since earlier this summer. We have now successfully extended our mineralized zone to a width of over 115 metres."

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-18-21 to J-21-21 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 1-647-249-7664 ext. 322 or 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/671578/Graycliff-Exploration-Intersects-High-Grade-Interval-in-Hole-21-of-1938-gt-Gold-over-420-Metres-at-Shakespeare-Project-Ontario

News Provided by ACCESSWIRE via QuoteMedia

The Conversation (0)
graycliff exploration

Graycliff Exploration

High Grade Gold in the Shadow of a Historic Headframe

Rich Checkan, gold bars.

Rich Checkan: Gold Nowhere Near Top, Use Price Dips to Buy

Morgan Stanley (NYSE:MS) recently recommended that investors consider a 60-20-20 portfolio where 20 percent is allocated to gold. Rich Checkan, president and COO of Asset Strategies International, crunches the numbers, explaining what that type of shift could mean for the yellow metal. He also... Keep Reading...
Graphic reading "Top 5 Canadian mining stocks this week" in front of stock market graph in background.

Top 5 Canadian Mining Stocks This Week: JZR Gold Jumps 113 Percent

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.The Government of Ontario started taking applications for resource development projects under... Keep Reading...
Nevgold President, CEO and Director Brandon Bonifacio.

NevGold Discovers “Highest-grade” Antimony Drilled to Date at Nevada Project

With grades of up to 14.9 percent, NevGold's (TSXV:NAU,OTCQX:NAUFF) newly discovered Bullet zone within the Resurrection Ridge target area is the highest-grade antimony ever drilled to date at the company’s Limo Butte project in Nevada, according to NevGold’s president and CEO, Brandon... Keep Reading...
Three gold bars on price chart with magnifying glass.

What Was the Highest Price for Gold?

Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has... Keep Reading...
Golden arrow and steps on dark background, symbolizing upward progress.

Aureka Reports Highest-grade Gold Assay at Irvine Project to Date

Aureka (ASX:AKA) said on Wednesday (October 15) that it has achieved a milestone at its flagship Irvine gold project, recording the highest-grade assay since the asset's discovery in 2017.The assay was within a larger 10 metre gold intercept zone, with results as follows:10 metres at 12.1 grams... Keep Reading...
Golden bars background with a rising green arrow; text: "Weekly Editor's Picks."

Editor's Picks: Gold Price Breaks US$4,300, Silver Soars Past US$54

It's been yet another historic week for gold and silver, with both setting new price records.The yellow metal broke through US$4,200 per ounce and then continued on past US$4,300. It rose as high as US$4,374.43 on Thursday (October 16), putting its year-to-date gain at about 67 percent.... Keep Reading...

Latest Press Releases

Related News