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5 Metres of Gold Intersected at Sudbury Project

Stockhouse Editorial
0 Comments| May 17, 2022

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(Holes J-34 to J-39 Location and Cross Section via Graycliff Exploration Ltd. Click to enlarge.)

Engaged in the acquisition, exploration, development and extraction of natural resources, specifically precious metals, Graycliff Exploration Ltd. (CSE: GRAY, Forum) released a new batch of assay results from drilling the Phase Three drilling program at its Shakespeare Gold Project, located on the prolific Canadian Shield near Sudbury, Ontario.

Drill Hole J-36 intersected 6.23 grams per tonne of gold (g/t Au) over 5.00 metres, including 14.30 g/t Au over 1 metre. Results continue to show strong gold mineralization extending from surface to the current limit of drilling at depth.

Significant intervals for Holes J-34 to J-39:

Drill Hole From (m) To (m) Width (m)1 Au (g/t) 2
J-34 170.00 172.00 2.00 2.32
J-35 120.00 121.00 1.00 1.13
131.00 132.00 1.00 1.04
134.00 136.00 2.00 1.88
J-36 128.00 130.00 2.00 2.89
105.00 110.00 5.00 6.23
Including
107.00 108.00 1.00 14.30
J-37 61.00 63.00 2.00 1.87
J-38 66.00 67.00 1.00 2.21
74.00 77.00 3.00 1.40
J-39 62.00 64.00 2.00 1.93
1 Reported intervals are down-hole lengths and not true thicknesses. True width of the mineralization cannot be determined due to the early-stage nature of the current program.
2
Length-weighted average grades are calculated using un-capped gold assay data.

The company’s Technical Advisor and Qualified Person, Bruce Durham commented on this news in a media release for investors, noting that the six holes included in this batch of assay results all intersected the strongly sericitized, altered and veined zone we have been defining proximal to the Miller Shaft.

“As is often the case, and as we are seeing at Shakespeare, the strength of the assays in any one drill hole is strongly correlated with the amount of quartz veining and the amount of deformation. Drill holes where there is strong, very dark quartz veining appear to assay higher, and holes that include the sighting of visible gold provide the strongest results. Drilling continues, and additional results will be provided as received.”

Recently, the company made headlines following the release of previous field channel sampling results from the Phase 3 exploration program at Shakespeare. The channel sample results were located proximal to the historic Miller Shaft and the boundaries of the mineralized zone identified Phases 1 through 3 of drilling. Samples included 137 g/t gold (Au) over 0.71 of a metre, 54.20 g/t Au over 0.56 of a metre and 15.30 g/t Au over 0.49 of a metre.

This third phase is focused on expanding on the extent of gold mineralization proximal to the historic Miller Shaft where initial gold mining took place more than a century ago.

Graycliff Exploration will also be present at Booth 301 at the VRIC in Vancouver this week.


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