Graycliff Exploration Ltd C.GRAY

Alternate Symbol(s): GRYCF

Graycliff Exploration Limited is a Canada-based mineral exploration company. The Company is focused on its approximately 1,468 hectares of prospective ground, located roughly 80 kilometers west of Sudbury on the prolific Canadian Shield. The Company's Shakespeare Project consists of one crown patented lease, two crown leases and approximately 40 claims on a property associated with the historic Shakespeare Gold Mine. The Company has drilled over 12,500 meters at Shakespeare, with visible gold identified in multiple holes.

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Graycliff Exploration Ltd

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Post by alphaflighton Jun 03, 2021 11:47am

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Post# 33319092

Graycliff Mobilizes Second Drill Rig, Phase 3 at Shakespeare

Graycliff Exploration Mobilizes Second

Drill Rig and Commences

Phase Three Drilling at Shakespeare

TORONTO, ON - June 3, 2021 - Graycliff Exploration Limited (the “Company” or “Graycliff”) (CSE: GRAY) (OTCQB: GRYCF) (FSE: GE0) is pleased to announce that the Company has commenced an expanded comprehensive phase three (3) drill program at the Graycliff’s Shakespeare Gold Project located on the prolific Canadian Shield near Sudbury, Ontario. The Company is mobilizing a second drill rig that will allow the Company to significantly increase the flow of information from the project.

Phase 3 Exploration Highlights: Phase 3 drilling program will include the mobilization of a second drill rig to the project as part of the Company’s plan to complete approximately 5,000 metres (“m”) of core drilling with average hole lengths of approximately 150 m.
Drilling will continue to focus on the gold mineralized zones proximal to the Miller Shaft with new drill hole locations being selected using the results of the ongoing 3D modelling of the Phase one and Phase two geological information and assay results.
Future completion of Phase 3 drilling is poised to bring the total drilling to approximately 8,500 metres for Graycliff’s maiden 2020/2021 drilling programs at Shakespeare.
Surface sampling, geophysical surveying, and prospecting at the recently acquired Baldwin Project will be undertaken as well (See press release dated May 13, 2021).

“We are happy to be able to mobilize a second rig for the Shakespeare Project as we initiate the Phase 3 drilling program. We are accumulating excellent data from the first two drilling programs and believe that the 3D modelling and geophysical surveying planned will provide us with some exciting new drill targets. We are looking forward to receiving additional results from the assay lab, especially as one of the pictures shown in last week’s press release was from the half of the interval that was not sent to the lab,” stated President and CEO, James Macintosh.

“As we begin the process of researching historic work carried out at the Baldwin Project, we are extremely encouraged by the very similar geological characteristics the Baldwin property has in common with Shakespeare. We are looking forward to initiating work on this promising new project,” stated Bruce Durham, Graycliff’s Technical Advisor and QP.

Qualified Person

Bruce Durham, P.Geo, is a Qualified Person, as that term is defined by Canadian regulatory guidelines under NI 43-101, and has read and approved the technical information contained in this press release.

About Graycliff Exploration Limited.

Graycliff Exploration is a mineral exploration company focused on its 1,025 hectares of prospective ground, located roughly 80 kilometres west of Sudbury on the prolific Canadian Shield. The Company's Shakespeare Project consists of one crown patented lease, two crown leases and 40 claims on a property associated with the historic Shakespeare Gold Mine, which operated from 1903 to 1907. Graycliff’s Baldwin Project is adjacent to the east and is comprised of 68 claims covering 1,500 hectares. This brings our total land package in the area to 2,525 hectares.