Precious Metals Company Consolidates Land Position at BC Silver Property

Goldcliff Resource Corp. reported that via an option agreement it has acquired a large land position in the Ainsworth silver district in southern British Columbia.

Goldcliff Resource Corp. (GCN:TSX.V; GCFFF:OTCBB) reported in a news release that it has "acquired by way of an option to purchase a large land position of additional claims and crown grants in the historic Ainsworth silver camp, near Kaslo, B.C."

Goldcliff Resource's President George Sanders advised that the purchase option agreement was entered into with a private individual and that the land package includes approximately 2,915 hectares of mineral tenures and 295 hectares of crown grants. The transaction terms stipulate that Goldcliff Resource will be required to pay the seller $25,000 at the time of signing followed by two more payments in the amount of $25,000 due 12 months and 24 months from signing, for a total price of $75,000. Sanders added that with the additional acreage, the firm's holdings at Ainsworth now total around 4,455 hectares, which makes it the largest land position in the district.

The company stated that the newly acquired claims host several former prospect pits and small past producing mines. The firm noted that from 1889 to 1964 the region hosted greater than 50 properties producing silver, lead and zinc. The company added that during that time the region in combination with the nearby Sandon area produced about 92 million ounces of silver in total.

Goldcliff stated its holdings include the former No. 1 Mine, which is the largest and highest grade producer in the Ainsworth district. The firm noted that the No. 1 Mine produced nearly 2 million ounces of silver from 1910 to 1921 when operated then by Cominco.

The company reported that last fall it undertook at a reconnaissance scale rock, soil, and drainage sediment sampling program that included 38 rock samples, 64 soil samples and 18 lithic drainage samples (LDS). The firm said that the samples were taken from the Cedar Creek canyon area and the region surrounding the old No. 1 Mine and Silver Hoard workings and the area between them. Goldcliff pointed out that the sampling results displayed highly anomalous soil and LDS samples. The firm advised also that several rock samples returned high-grade silver values.

Goldcliff stated that its exploration plans at Ainsworth call for an airborne electromagnetic and magnetic survey to be completed over the No. 1 and Silver Hoard areas. The firm also intends to conduct ground geophysical and detailed geochemical follow-up work to identify areas for trenching and to select drill targets.

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