Goldcliff Resource Corporation: New Gold Targets at Panorama-Winters East
September 30 2010 - 1:39PM
Marketwired
George W. Sanders, President of Goldcliff Resource Corporation (TSX
VENTURE: GCN), reports that the Company has identified a new gold
target area on the Panorama Ridge property near Hedley, British
Columbia, Canada. Named Winters East, this area is located two
kilometres southeast of the Panorama Ridge gold zones. The rock
samples from the area have returned gold values that range from
0.195 to 0.410 grams gold per tonne. A stream sediment sample from
a creek situated in the area contains 1.260 grams gold per tonne.
Within Winters East, a cluster of targets have been identified that
contain exploration signatures similar to Panorama Ridge, thereby
extending the gold exploration potential on the Goldcliff Panorama
Ridge property.
Based upon Goldcliff's exploration results from the surface work
(2009), an airborne multi-sensor geophysical survey (2008) and the
historical data, a cluster of three targets has been identified in
a large overburden-covered area in Winters East. This cluster
contains the King, Queen and Prince targets, which are represented
as individual airborne magnetic-high responses that are peripheral
to a prominent east-west trending magnetic low feature.
Approximately 3.6 square kilometres in size, the Winters East area
contains similar geology and gold mineralization to the Panorama
Ridge gold zones and the Nickel Plate-Mascot gold mine.
The King target is the most advanced target in the Winters East
area. The airborne magnetic-high anomaly is confirmed by a ground
magnetic-high anomaly generated in 1984. The two magnetic anomalies
are coincidental and represent an area of 0.50 square kilometres. A
corresponding gold soil geochemical anomaly of plus-50 parts per
billion gold occurs over an area of 0.30 square kilometres.
The rock samples collected by Goldcliff correspond to the
magnetic-high and gold soil anomalies. The three rock samples
(float) returned gold values of 0.195, 0.340 and 0.410 grams per
tonne. The rocks are green silicifed sediment containing magnetite
and abundant pyrite and pyrrhotite sulphides. The important
associate pathfinder minerals are arsenic (As), bismuth (Bi),
copper (Cu), molybdenum (Mo) and tellurium (Te). Bisected by a
prominent northwest trending fault, the King target area has
similar exploration signatures to Panorama Ridge.
The Queen target area is located approximately one kilometre
north of the King and about one kilometre southeast of the Nordic
gold zone at Panorama Ridge. The Queen target area contains an
airborne magnetic-high anomaly representing an area of 0.40 square
kilometres in glacial cover. A rock sample (float) collected by
Goldcliff corresponds to the magnetic-high and contains 0.165 grams
per tonne gold. The rock is green brecciated sediment containing
pyrite. The important associate pathfinder minerals are copper (Cu)
and molybdenum (Mo). The two stream sediment samples, which were
collected by Goldcliff in a creek draining the Queen target area,
returned gold values of 1260 parts per billion (1.26 g/t) and 230
parts per billion (0.23 g/t). The Queen target is bisected by the
same prominent northwest trending fault that extends from the King
target.
The Prince target area is approximately 250 metres northwest of
the King target. The Prince target area contains an airborne
magnetic-high anomaly representing an area of 0.30 square
kilometres. The Prince showing was probably discovered in the early
1900s and prospected by hand-pitting. In 1986, a previous operator
conducted a small magnetic ground survey that obtained a
magnetic-high response over the Prince showing. A trench was
excavated on the showing (1986) and the five grad samples from the
trench contained gold values ranging from 1 to 22 ppb gold (gold
average 9 ppb), with elevated associate pathfinder minerals of
copper (Cu) and molybdenum (Mo).
In 2009, Goldcliff sampled the Prince showing trench and
collected nine samples that returned gold values ranging from 5 to
65 ppb gold (gold average 25 ppb). The associate pathfinder
minerals are strong, and very significantly related to gold
mineralization. The average values for the pathfinder minerals are
as follows: silver (1.84 g/t), arsenic (1379 ppm), bismuth (2.7
ppm), copper (403 ppm), molybdenum (2.6 ppm), lead (54 ppm) and
zinc (259 ppm). The samples are from green silicified rocks
containing pyrite. The intrusive rock associated with the
mineralization is a Hedley diorite.
The three target areas surround individual topographic highs of
1860 to 1880 metres elevation. This elevation is similar to the
elevation at Panorama Ridge and suggests that the gold
mineralization is associated with buried silicified-sulphide
altered knobs that correspond to the magnetic-high airborne
geophysical anomalies. The Winters East target cluster is forested
and overburden-covered with very little outcrop.
The Panorama Ridge property is located four kilometres east of
the historic Nickel Plate-Mascot mine that has produced 2.5 million
ounces of gold. The gold mineralization on the Panorama Ridge gold
property is related to the pervasive silica-iron alteration (skarn
replacement) of the Upper Triassic Nicola Group sedimentary and
volcanic rocks. The property was staked in 2000 after Goldcliff
prospected new logging road outcrops that exposed skarn alteration.
The property has mine-related infrastructure and is readily
accessed by roads. Goldcliff has discovered four potentially
economic gold zones on the Panorama Ridge area and has identified
the Winters East area to have similar exploration potential.
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, gcnnews201010
Contacts: Goldcliff Resource Corporation George W. Sanders
President, Director (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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