VANCOUVER, British Columbia, April 17, 2023 (GLOBE NEWSWIRE) -- George Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN: TSX.V, GCFFF: OTCBB PINKS) reports that in light of the recent strong move in silver prices Goldcliff management has undertaken a review of the silver component of the Company’s asset portfolio. Of Goldcliff’s five properties, three are silver dominant, and of those, two are former high-grade districts where Goldcliff has sampled silver grades in excess of 1 kilo per tonne. The strong move in silver is reflected in the gold/silver ratio which has moved from a March 10, 2023 high of 91.65 to below 80. Historically silver outperforms gold during bull phases in precious metals cycles.
The Company holds an option to purchase a 100% interest in the historic Rand district in Mineral County, Nevada. The Rand district hosts a series of old underground workings from the early 1900’s where small miners were exploiting very high grade, surface enriched mineralization via small shafts. Sampling by Goldcliff in 2019 returned values of 1,415 g/t Ag over 2 metres from a chip sample on the 100 ft level of the Nevada Rand shaft. On the 150 ft level a 0.5 metre chip returned 737 g/t Ag and a 1 metre chip 752 g/t Ag.
At the 100% owned Ainsworth silver property located near Kaslo, BC rock samples from float, sub crop and outcrop assayed up to 359 g/t and 355 g/t Ag in a reconnaissance programme in 2020. Follow up sampling in 2021 yielded a sub crop sample grading 1,381 g/t Ag. Goldcliff is the largest land holder in this historic district. Other than the Company’s prospecting activities, this district has received no modern systematic exploration for decades.
The Company holds an option to earn a 100% interest in the Kettle Valley project located near Rock Creek BC. This is a newly recognized epithermal mineralized occurrence. Although the focus at Kettle Valley is on gold, the silver component is very significant. Two of the best gold values in surface outcrop samples taken in late 2021 also assayed 181 g/t Ag and 93 g/t Ag respectively.
The Goldcliff team is continuing to formulate exploration plans for these projects. A series of subsequent News Releases will discuss the plans and details of each project.
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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Statements regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations, and include statements regarding the anticipated timing for closing of the second tranche of the Private Placement. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Except as required by law, the Company does not intend to update any changes to such statements.
