Goldcliff Commences Silver Exploration at Ainsworth
31 August 2011 - 1:36AM
Marketwired
George W. Sanders, President of Goldcliff Resource Corporation (TSX
VENTURE: GCN), reports that the Company has begun field exploration
on the Ainsworth Silver property. This work will follow-up very
strong geochemical anomalies at the Bjerk-1 target, with silver
values of 5.2 grams per tonne, and strongly elevated responses in
gold, cadmium, copper, molybdenum, lead and zinc. Goldcliff's
100-per cent owned Ainsworth Silver property is located in the
Ainsworth-Kalso silver camp, Kootenay mining district, Slocan
Mining Division, British Columbia, Canada. The property consists of
a contiguous claim block containing 10,280 hectares.
Previous exploration on the claims has identified six large
target areas that contain 14 coincidental geological, geochemical
and multi-sensor airborne geophysical anomalies. Two of the
anomalies are associated with the Bjerk-1 and Big-C targets. The
Bjerk-1 target is located within the Bjerkness Target area which is
in the northern end of the claim block and the Big-C target is
located within the Lendrum Target area which is central to the
claim block. The remaining 12 anomalies require future exploration
to advance to targets.
The Bjerk-1 exploration target occurs on a ridge between
Fletcher and Bjerkness Creeks and is a northerly trending airborne
geophysical feature some 1,200 metres in length and 600 metres in
width. The moderate to strong individual EM conductors strike north
to north-northwest and vary in length from 200 to 500 metres. The
conductors are interpreted to be structures and are accompanied by
a circular magnetic-high response interpreted to be a Cretaceous
Fry Creek Intrusion. The Bjerk-1 is underlain by Triassic Slocan
Group rocks of argillite and limestone in juxtaposition with the
Permian Kaslo Group greenstone.
Very strong silver values occur at the intersection of a strong
conductive structure and the north east Bjerk fault. Soil samples
within the anomaly contain up to 5.2 grams silver and range from
1.0 to 4.9 grams per tonne silver. The coincidental metals also
have very strong responses in cadmium (0.51 to 26.61 ppm), copper
(12.0 to 91.5 ppm), molybdenum (0.73 to 61.03 ppm), lead (12.0 to
91.5 ppm) and zinc (12.0 to 91.5 ppm). The Bjerk-1 silver anomaly
represents a multi-element silver mineralizing system associated
with structures. The Bjerk-1 target is located in a similar
geological and structural silver deposit setting as the mines at
the Slocan-Sandon camp.
The Big-C target (previously reported, October 07, 2010) occurs
on a ridge between Lendrum and Woodbury Creeks and is a north
trending airborne geophysical feature some 700 metres in length and
500 metres in width. The moderate to strong cluster of individual
EM conductors strike north-northwest, and vary in length from 50 to
500 metres. The conductors parallel a major regional fault and are
interpreted to be mineralizing structures. A strong silver anomaly
and its pathfinders coincide with the structural trends. The Big-C
is underlain by Mississippian to Lower Permian Milford Group
limestone and is in contact with the Permian Kaslo Group
greenstone.
The Big-C target is located approximately four kilometres north
of the historic No.1 Mine in similar geology. The No.1 Mine was the
largest silver producer in the camp with production of 1,993,818
ounces of silver at a grade of 49.64 ounces per ton (1,707.78
grams/tonne). The Big-C target has been permitted for trenching and
drilling.
Pursuant to the terms of its stock option plan, the Company has
granted incentive stock options to directors, officers and
consultants to acquire 5,581,170 common shares of Goldcliff at a
price of $0.10 per share, effective August 30, 2011.
Leonard W. Saleken, PGeo (geologist) is the qualified person as
defined by National Instrument 43-101 who supervised the
preparation and verification of the technical information in this
release.
GOLDCLIFF RESOURCE CORPORATION
George W. Sanders, President, Director
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, gcnnews201104
Contacts: Goldcliff Resource Corporation George W. Sanders
President 250-764-8879 or Toll Free: 1-866-769-4802 604-261-8994
(FAX) sanders@goldcliff.com or info@goldcliff.com
www.goldcliff.com
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