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GOLDCLIFF RESOURCE CORP. (:GCN) Goldcliff Expands Ainsworth Silver Holdings

Transparency directive : regulatory news

15/05/2024 14:30

VANCOUVER, BC / ACCESSWIRE / May 15, 2024 / George Sanders, President of Goldcliff Resource Corporation ("Goldcliff" or the "Company") (TSX.V:GCN)(OTC PINK:GCFFF) reports the Company has acquired by staking an additional 6 strategic claims adjoining it's significant 100% owned land holding in the historic Ainsworth silver camp, located near Kaslo, B.C.

The new claims were strategically located to cover a length of the No 1 limestone unit where it contacts the eastern extension of the Nelson batholith. These new claims cover the favourable limestone which hosts the former high grade producing Skyline deposit, which is currently held under Crown Grant by another party.

Mineralization in the Ainsworth camp, most notably at the high grade No 1 and Silver Hoard mines, occurs as replacement in limestone units that strike north south. These units are contained within a series of north trending fault slices that are parallel from east to west. High grade silver mineralization occurs at the contact between limestone and argillite and is concentrated in folds. Cross cutting structures appear to be important. Favourable limestone units ascend the mountains on the west side of Kootenay Lake until they come in contact with the Nelson batholith. Historical silver occurrences in the favourable limestone increase in grade closer to the intrusive from east to west.

Most exploration and development activity in the Ainsworth camp took place between 1890 and 1920. The popular methodology of the time was to open mineral showings with prospecting pits, to excavate shallow shafts and/or to crosscut or drift beneath showings. Drilling technology of that era did not allow for deeper drill holes beyond 100 metres. As such, the district has never been explored in detail and at depth for larger carbonate replacement deposits. The Goldcliff land position at Ainsworth therefore presents two compelling silver exploration target scenarios. The first and more immediate objective is to locate extensions of near surface high grade silver mineralization. Longer term targets will be to test this productive geology for deeper, silver rich carbonate replacement deposits. The Company's geologic team is continuing to evaluate Goldcliff's previous work and all historic data. A detailed exploration program will be presented in the near term.

At the Company's Annual General and Special Meeting of Shareholders held May 2, 2024, all items were approved, specifically the re-election of Directors, the appointment of Auditors and the Company's 10% Rolling Stock Option Plan.

Goldcliff is a multi asset exploration and development company focused on projects where a bootstrap development strategy may be applicable. Current active projects include the Kettle Valley gold/silver, Panorama Ridge gold and Ainsworth silver properties in B.C. and the Nevada Rand gold/silver and Aurora West gold properties in Nevada.

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.

SOURCE: Goldcliff Resource Corp.



View the original press release on accesswire.com

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