Goldcliff Resource Corporation: Multi Ounce Gold Sampled at Expanded Bonanza Trenchadmin
Wednesday, August 20th 2008
George W. Sanders, President of Goldcliff Resource Corporation report that the initial 2008 results from the stripped area of the Bonanza Trench on the Company’s 100%-owned Panorama Ridge property, which is located near Hedley, B.C., have significantly expanded the area of high-grade gold values.
The 2008 Bonanza Trench area gold results are highlighted by values of 5.366 ounces per ton gold (oz/t Au), 3.587 oz/t Au, 3.762 oz/t Au and 3.179 oz/t Au, and complimented by numerous sample values ranging from 0.157 to 0.930 oz/t Au. The samples are cut channels of one metre lengths along an orthogonal surveyed sample-grid that is centred around the 2007 high-grade value of 17.368 oz/t Au (595.55 grams per tonne gold).
Based on 55 sample values collected in a 10 square metre area (2.00 by 5.00 metres), the average gold results are 0.790 ounces per ton gold or 27.088 grams per tonne gold. Contained within the 10 square metre area is a 5 square metre area (2.00 by 2.5 metres) in which the average gold results of the 32 samples collected is 1.341 ounces per ton gold or 45.975 grams per tonne gold.
The 2008 sampling program at the Bonanza Trench location consisted of stripping a large surface exposure about 25 metres in the upslope/downslope direction by about 5 metres across slope. This stripped area was systematically sampled as described above. Both photographs and a video clip of this sampling are available on the Company’s website at www.goldcliff.com.
Based on this sampling to date, the high-grade zone appears to be open in a northerly direction and under overburden beyond the stripped area. This area has now been stripped and additional sampling is currently underway. Diamond drilling continues on the Nordic zone. A drill grid is being spotted in the Bonanza Trench area and drilling is expected to commence in a few weeks once the holes are completed on the Nordic zone.
The Bonanza Trench area occurs in the southwest, downslope portion of the York-Viking zone. The York-Viking gold zone is the largest of several gold zones discovered on the Panorama Ridge property. The Panorama Ridge property is located four kilometers east of the historic Nickel Plate-Mascot mines that once produced 2.5 million ounces of gold. The Panorama Ridge property was discovered in 2000 when Goldcliff prospected new logging road outcrops. The property has mine-related infrastructure and is readily accessed by roads. Goldcliff has identified multiple gold zones that have economic potential.
The Panorama Ridge property contains a large surface area of gold mineralization related to silica-iron alteration (skarn) in sedimentary rocks from the Hedley Formation of the Triassic Nicola Group. The gold mineralization is related to the skarn alteration and occurs over an area of approximately two square kilometres. Contained in the alteration area from northeast to southwest are the Nordic, York-Viking and Tower gold zones. These zones are separate entities occurring over a distance of approximately 1,000 metres. The trenching and drilling have narrowed the gap between the zones.
Eco Tech Laboratory Ltd. of Kamloops, B.C., a subsidiary of Alex Stewart Group Ltd., an accredited laboratory, is conducting the sample preparation and analysis. All sample analysis is 30 gram fire assay-A.A. finish for gold and 35 multi-element ICPMS. The sample stream is subject to check analysis on repeat and re-split samples, and standards to maintain quality control.