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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Goldcliff Resource Corporation | TSXV:GCN | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.02 | 66.67% | 0.05 | 0.035 | 0.045 | 0.05 | 0.03 | 0.035 | 51,000 | 19:38:13 |
The Big-C target is situated on a topographic-high saddle with good road access for easy ground exploration. The airborne conductive system has been verified by ground geophysics. The initial soil geochemical sampling survey over the conductor is returning strongly anomalous silver values in the range of 1.02 to 2.94 grams/tonne. The pathfinder elements are anomalous in arsenic (56.3 ppm As), cadmium (5.19 ppm Cd), cobalt (172.9 ppm Co), chrome (1345 ppm Co), copper (372 ppm Cu), iron (36.28 % Fe), lead (539 ppm Pb), molybdenum (16 ppm Mo), nickel (361 ppm Ni) and zinc (466 ppm Zn). The pathfinder elements are characteristic of the No.One mine silver ore mineralization and of the other Kootenay Arc silver deposits in the Kootenay Mining Region.
Conducted in 2007, Goldcliff's multi-sensor airborne geophysical survey detected 22 geophysical anomalies with silver exploration potential. Covering a distance of approximately 25 kilometres, these anomalies - which have been developed into five exploration target areas -- are situated in a belt of Kootenay Arc geology that occurs between the Ainsworth and Kaslo-Keene Creek silver camps. To date, preliminary ground exploration on two of the targets (Big-C and Bjerk) have returned positive results and indicated promising silver potential. The Big-C target is located north of Ainsworth and the Bjerk target is located south of Kaslo.
The Kootenay Mining Region has historic silver production totalling 99.6 million ounces. The Kootenay Mining Region is situated in the Kootenay Arc, a similar geological setting to the Coeur d'Alene silver camp. The Coeur d'Alene silver camp (Idaho, USA), in which mines are still producing silver, has a reported historic silver production of 1.2 billion ounces. The Ainsworth and Kaslo-Keene Creek silver camps have historic silver production of 4.65 million ounces.
The Kootenay Mining Region is located in the central part of the Kootenay Arc, a curving belt of complexly deformed Paleozoic rocks (older rocks). These older rocks have been intruded by Mesozoic and Cenozoic intrusive rocks, and range in age from Lower Cambrian to Upper Triassic. The older rocks are mica schists, limestones, homblende schists, quartzites and slates of the Lardeau, Milford, and Kaslo Formations, and the Slocan Group. Throughout the region, the rocks are metamorphosed, foliated and faulted in a north-south direction. The silver ore mineralization is associated with pyrite, galena, sphalerite, chalcopyrite, pyrrhotite and arsenopyrite. At the No.One mine, the silver ore was native silver (wire-silver).
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, gcnnews201012
Contacts: Goldcliff Resource Corporation George W. Sanders President 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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