Goldcliff Assesses Bulk Tonnage Potential at Nevada Rand
VANCOUVER, British Columbia, June 23, 2020 (GLOBE NEWSWIRE) -- George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN: TSX.V, GCFFF: OTCBB PINKS) reports that interpretation of exploration results to date conclude that the Nevada Rand project has district scale potential to host disseminated bulk tonnage gold deposits along with discreet, very high grade silver/gold sweet spots. During the last twelve months, Goldcliff conducted underground mapping and sampling in the old Nevada Rand and Lone Star workings, detailed surface mapping and rock sampling, and stream sediment geochemical sampling. Results of this work were reported in Goldcliff News Releases dated October 9, 2019 and November 19, 2019. The Company also drilled seven diamond core holes totaling 695.2 metres. Results of that programme were discussed in News Release dated May 6, 2020.
A review and analysis of all data produced led to the following interpretations and conclusions. The volcanic stratigraphy seems to be interleaved/interlayered andesite and rhyolite flows that are likely intruded by sub-volcanic rhyolite plugs. The veins are more prominent in the andesite. The veining occurs along quartz sericite corridors with silver dominant, gold and low level base metal pathfinders. The historic bonanza grade mined at the Nevada Rand shaft, the Lone Star, and at the Golden Pen and Blue Sphinx which are beyond the claim boundary, represent “smoke” and are indicative of a larger mineralizing system. A classic disseminated, Walker Lane-style, gold-bearing epithermal system is in the rhyolite flow portion of the stratigraphy. This mineralization is gold dominant and contains pathfinders of arsenic, antimony and molybdenum.
A working genetic model is of an epithermal-type environment that is active all along the Northwest trending Rand corridor from the Isabella Pearl (new open pit heap leach mine operated by Gold Resource Corporation), 18 miles southeast, to Rand. This would be controlled and/or offset along the classic Walker Lane style structural setting of right-lateral strike slip faults with low-angle faults and volcanic contacts forming within the 1/2 grabens that are documented to occur throughout this part of the Walker Lane. Disseminated, bulk tonnage gold deposits in the rhyolite flows have not been previously targeted in the Rand district and represent a compelling exploration opportunity for Goldcliff.
Realizing that the Rand district hosts previously unrecognized and unexplored opportunities has encouraged Goldcliff to undertake a systematic review of several other historic mining districts in Nevada and Arizona. Due diligence and acquisition discussions are underway regarding positions in two such districts.
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
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