Graycliff Exploration Ltd C.GRAY

Graycliff Releases Shakespeare Phase Three Drilling Results

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Graycliff Exploration Releases Remaining Phase Three Drilling Results at Shakespeare Gold Project

TORONTO, ON - September 20, 2022 - Graycliff Exploration Limited (the “Company” or “Graycliff”) (CSE: GRAY) (OTCQB: GRYCF) (FSE: GE0) is pleased to release the final batch of assay results from the Phase Three drilling program at its Shakespeare Gold Project located on the Canadian Shield near Sudbury, Ontario. Phase Three (see press release dated June 3, 2021) focused on expanding on the extent of gold mineralization proximal to the historic Miller Shaft where initial gold mining took place more than 100 years ago. 

 

Drill Hole J-43 intersected 1.29 grams per tonne of gold (“g/t Au”) over 5.00 metres (“m”). Significant intervals for Holes J-40 to J-45 are detailed in Table 1.

Figure 1 - Holes J-40 to J-45 Location and Cross Section

 

“It is normal, particularly where visible gold is frequent, for the grades to vary throughout the drill program and we are happy to have encountered some exceptionally good intercepts throughout Phase Three drilling, but what’s even more important is that we continue to extend the zone of mineralization. We are proving that gold is present throughout the zone to over 250 metres below surface. Each phase of drilling is giving us a better understanding of the extent of the vein system we are dealing with and aids us in understanding the gold distribution to help develop the next program. Phase Four drilling is progressing well, and we look forward to updating the market on our progress,” said Bruce Durham, Graycliff’s Technical Advisor and QP.

 

“As mentioned in our press release of June 7, 2022, we have identified visible gold in multiple holes drilled in Phase 4. We are optimistic about the results from those initial phase four drill holes that we should be able to release in the ensuing weeks,” added James Macintosh, President and CEO.

 

Summary of Drilling to Date

 

 

Throughout the first three phases of drilling, the Company completed approximately 8,000 metres of drilling, with Phase Three achieving its goal of expanding the mineralized zone at depth by approximately 150 m and increasing the width along strike to over 150 m (See Figure 1 and Table 2). 

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.

 

QA/QC Protocol: https://graycliffexploration.com/wp-content/uploads/2021/06/graycliffexploration-qa-qc-protocols-june-2021.pdf  

For more information, please contact investor relations at [e-mail] or call 647-249-9298 ext. 322.

 

On Behalf of the Board of Directors,

 

James Macintosh

President and CEO

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