Goldcliff Reactivates Exploration of Former High Grade Silver Producer
globenewswire.com
September 09, 2020 08:30 ET | Source: Goldcliff Resource Corporation
VANCOUVER, British Columbia, Sept. 09, 2020 (GLOBE NEWSWIRE) -- George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN: TSX.V, GCFFF: OTCBB PINKS) reports that the Company plans to reactivate exploration of the Ainsworth silver property, near Kaslo, British Columbia. The Goldcliff claims are one of the largest land positions in the Ainsworth district. The Ainsworth district hosted more than 50 properties from which silver-lead-zinc was produced from 1889 to 1964. Together with the nearby Sandon area in the “Silvery Slocan”, the region produced 92 million ounces of silver.
Goldcliff’s claims cover the former No. 1 Mine, the largest and highest grade producer in the district. The No. 1 Mine, operated by Cominco from 1910 to 1921, produced 1,993,818 ounces of silver at a recovered grade of 49.64 ounces Ag per ton. Ore was mined from five levels between 4100 and 4300 feet, or for a vertical extent of only 60 metres. Additional ore shoots along strike and offset at depth have never been explored for using modern exploration techniques.
There is little to no outcrop in the area so Goldcliff plans a geophysical program to locate drill targets at depth and along strike.
The Ainsworth land position was acquired by staking and Goldcliff owns the claims 100% with no royalties or work commitments. The Company has maintained the claims in good standing for over a decade pending a silver price environment in excess of $20 per ounce.
Ed Rockel, P. Geo, qualified person as defined by National Instrument 43-101 supervised the preparation and verification of the technical information contained in this release.
For further information, please contact George W. Sanders, President, at 250-764-8879, toll free at 1-866-769-4802 or email at info@directroyalty.com.
GOLDCLIFF RESOURCE CORPORATION
Per: “George W. Sanders”
George W. Sanders, President
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or the accuracy of this news release.
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