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CalciMedica, Inc. is a clinical-stage biopharmaceutical company focused on developing novel calcium release-activated calcium (CRAC) channel inhibition therapies for acute and chronic inflammatory and immunologic illnesses. The Company's technology targets the inhibition of CRAC channels to modulate the immune response and protect against tissue cell injury. Its lead product candidate is Auxora... see more

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CalciMedica Inc > Graycliff Intercepting Near Surface Gold: 5.1 g/t Au Over 4M

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Post by alphaflight on Oct 21, 2021 8:43am

Graycliff Intercepting Near Surface Gold: 5.1 g/t Au Over 4M

Graycliff Exploration Continues Intercepting Near Surface Gold Mineralization with Hole 10 grading 5.51 g/t Gold Over 4.0 Metres

TORONTO, ON – October 21, 2021 - Graycliff Exploration Limited (the “Company” or “Graycliff”) (CSE: GRAY) (OTCQB: GRYCF) (FSE: GE0) is pleased to announce additional assay results from its over 2,000 metre (“m”) phase two core drilling program on the Company’s Shakespeare Gold Project located on the prolific Canadian Shield near Sudbury, Ontario.

Drill Hole J-10-21 intersected two mineralized intervals eight metres (“m”) apart with the higher interval returning 5.51 g/t gold (“Au”) over 4.0 m, including 24.60 g/t Au over 0.55 m. Drill Holes J-11-21 and J-14-21 were stopped after of 30 m as they intercepted the historic underground workings or a fault. Drill Holes J-12-21 and J-13-21 were heavily fractured and core recoveries were poor. The significant intervals for Holes J-10-21 through J-14-21 are detailed below:

Table 1 - Highlighted Results from Hole J-10-21 to J-14-21

President and CEO, James Macintosh stated: “The continued success we are having at Shakespeare is very encouraging. We now have anomalous gold intervals in 9 out 14 holes and we are getting some very significant widths and grades in several of those holes. As we have mentioned before, we continue to see visible gold in some of the drill core and we look forward to receiving those results in the coming weeks. All of this information will be going into the 3D model that we have commissioned. I strongly believe that at current prices, Graycliff is fundamentally undervalued considering the continuing success of our ongoing drill program”

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.