Potential for Panorama Ridge Renewed by Rock Sampling of up to 6.76 g/t Gold Beyond Previous Drilling

 

VANCOUVER, British Columbia, Feb. 06, 2023 (GLOBE NEWSWIRE) -- George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN: TSX.V, GCFFF: OTCBB PINKS) reports that geochemical results including 6.76 g/t and 5.02 g/t gold have been received from rock sampling at the Company’s 100% owned Panorama Ridge property at Hedley, BC. This sampling was part of a reconnaissance prospecting and geochemical programme undertaken in September 2022. A total of 54 rock samples were collected from outcrop and angular mineralized float during the programme and submitted to MSALabs for analysis by the 40-gram ICP-MS-112 multi-element method.

The September programme focused on areas beyond those previously drilled. Between 2003 and 2008, Goldcliff excavated 6,198 metres of trenching and drilled 16,611 metres in 190 drill holes. Continuous and consistent grades over 0.75 g/t gold were encountered from surface to shallow depths up to 30 metres in two zones, the York-Viking and the Nordic.

The two 2022 strong-grade float samples were from a zone named Skar, which is located approximately 900 metres southwest of the previously drilled York-Viking zone. Although this was a previously identified area of interest, at the time of Goldcliff’s last activity the area was heavily timbered with little outcrop. It has subsequently been logged which has provided access for more detailed exploration.

These two Skar vicinity samples are from an area where a large boulder uncovered beside a new logging trail in 2013 assayed 2.37 g/t gold. When the area was revisited in September, 2022 the trail had been reclaimed. The angular nature of the 2022 float samples suggests a potential source nearby and upslope. Rock samples from float, taken in 2009, about 250 meters westward and downslope from the two Skar samples yielded 9.77 g/t and 14.57 g/t gold. Another downslope float sample taken in 2019, at about the same elevation, halfway between Skar and York yielded 17.8 g/t gold.

Goldcliff’s geological team has developed a working hypothesis that York-Viking drilled mineralization continues as a flat lying zone to the southwest through the high grade Bonanza trench and extends at least 900 metres further southwest to the Skar zone and recent sampling. This hypothesis is supported by a review of Goldcliff’s previous geophysical surveys on the property. This will be an area of high priority follow up exploration.

The Bonanza trench was excavated in the fall of 2007. It returned 5 metres of 140.21 g/t gold and included a 1 metre section that assayed 525.0 g/t gold. Follow up metallic screening assay and electron microprobe analysis confirmed no nugget effect, but showed some free gold and the presence of Hedleyite and Joseite, the two bismuth tellurides. These minerals were present in the highest-grade stopes in the nearby Nickel Plate mine. The two 2022 Skar samples and the other anomalous gold and silver samples all contained elevated values of bismuth and tellurium. Bismuth and tellurium are key pathfinder elements for gold mineralization in the Hedley district.

Sampling of an area named Tower along the southeast base of Panorama Ridge returned a zone of anomalous gold values, with elevated bismuth and tellurium. Highlighting this area was a float sample of 0.585 g/t gold. This sample confirms 2013 sampling that returned 0.551 g/t (float) and 0.645 g/t gold (one metre chip). These three samples cover a length of 240 metres. A further 980 metres northeast, downslope from the previously drilled Nordic zone, a 2022 sample returned 0.346 g/t gold. Rock sampling of the Cemetery, South Ridge and North Ridge yielded background to slightly anomalous values.

Goldcliff is awaiting processing and analysis of the soil and the lithic drainage sediment [LDS] geochemical sampling also undertaken in September. Once all results are received and compiled a detailed follow up exploration programme will be formulated for execution this field season.

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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