GOLDCLIFF EXTENDS PINE GROVE MINERALIZTION BEYOND RESOURCE SHELL MULTIPLE GOLD ZONES IN MULTIPLE HOLES INCLUDING PLUS HALF-OUNCE INTERCEPTS George W. Sanders, President of Goldcliff Resource Corporation (GCN TSX.V, GCFFF OTCBB Pinks, “the
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#400 – 789 W. Pender St.
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Phone: 250-764-8879
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GCN.TSXV www.directroyalty.com [email protected]
February 9, 2017
GOLDCLIFF EXTENDS PINE GROVE MINERALIZTION BEYOND RESOURCE SHELL
MULTIPLE GOLD ZONES IN MULTIPLE HOLES
INCLUDING PLUS HALF-OUNCE INTERCEPTS
George W. Sanders, President of Goldcliff Resource Corporation (GCN TSX.V, GCFFF OTCBB Pinks, “the
Company”) is pleased to report that results from the recent drill program on the Wilson patented claims at
Pine Grove, Nevada have extended resource grade gold mineralization beyond the limits of the existing
resource shell. The drilling also discovered a new, shallow zone of resource grade mineralization in what
was previously assigned as waste.
Highlighting these results is hole WL-114 which returned 0.154 opt over 50 feet (5.28 g/t over 15.24 metres)
starting at 205 feet, and including two separate 5-foot (1.5 metre) intervals grading 0.505 (17.3 g/t) and
0.604 opt (20.7 g/t) Au. The drilling also confirmed a new, shallow dipping, upper gold zone hosted in
granodiorite, the Pine Grove host rock. This new gold zone appears open down dip for up to 400 ft.
northward towards an old mineralized hole (WS-17) drilled by Teck Resources in 1991. Details of this and
the other holes are contained in the table below.
Gold grades encountered in this new upper zone and in other zones are consistent with the resource grade.
The Wilson patented claims host a measured and indicated resource of 1,514,000 tons grading 0.035 opt
gold at a cut-off grade of 0.007 opt gold. Inferred resources are 154,000 tons grading 0.042 opt gold. When
combined with the resources outlined on the Wheeler patented claims, the Pine Grove project hosts
measured and indicated resources of 3,373,000 tons grading 0.04 opt gold. (Amended & Restated
Technical Report, February 4, 2015 by Telesto).
Five of the drill holes (WL-105, 107, 108, 112, & 117) outline the new upper gold zone. Details of the
intercepts for these and other holes are contained in the table below. A drill hole location map is available
for viewing on the Company website at www.goldcliff.com/projects/pine-grove/drilling/. This new zone
remains open to the north northeast and trends onto unpatented lode claims 100% owned by the Pine
Grove joint venture.
Significant Drill Hole Intercepts
Hole
No.
Angle
From
(ft.)
To
(ft.)
Intercept
(ft.)
Gold
opt
Intercept
(m)
Gold
gpt
WL-105 -90° 90 120 30 0.062 9.14 2.06
WL-107 -90° 120 150 30 0.042 9.14 1.44
255 280 25 0.046 7.62 1.54
355 380 25 0.089 7.62 3.06
WL-108 -90° 85 125 40 0.038 12.19 1.28
WL-111 -90° 175 200 25 0.071 7.62 2.59
250 275 25 0.034 7.62 1.15
WL-112 -90° 60 110 50 0.030 15.24 1.03
WL-114 -90° 205 255 50 0.154 15.24 5.28
WL-117 -90° 55 95 40 0.017 12.19 0.58
1991 Teck
Hole WS-17
-90° 205 250 45 0.030 13.72 1.03
Thirteen vertical and one angle reverse circulation drill holes were completed from late October to early
December 2016, for cumulative footage of 6,962.5-feet (2,132.6 metres). The angle hole was drilled in the
southeast corner of the patented claims for geochemical and geological purposes and returned no
significant values. The remaining (vertical) holes were drilled on approximately 100 ft. (30.5 m) centers
along two step-out fences along the northern boundary of the Wilson patented claim. The Wilson patented
claims are surrounded by unpatented lode claims which are also part of the Pine Grove joint venture.
Lincoln Mining Corp, project operator, is preparing for submission to the US Forest Service a permit
application for further drilling on the unpatented lode claims. The drilling was supervised by Lincoln Mining
Corp, operator of the Pine Grove joint venture. Goldcliff is earning a 40% joint venture interest in the Pine
Grove project by spending US$ 1,400,000 over three years.
The current block model for the Wilson mineralization suggests a substantial pre-strip is required to reach
mineralization. The new, near surface gold zone is important because it indicates that what was previously
assigned as waste now contains mineralization. Further expansion of this new zone to the north northeast
could have important implications for expanding the Wilson resource and reducing the pre-strip.
Gold mineralization at the Wilson deposit occurs along low angle structures and on the contacts of low
angle intrusive dikes in the host granodiorite. Accordingly, gold values are concentrated in a series of
stacked low angle sheets. The stacked gold zones are 25 to 50 ft. (7.6 to 15.2 m) in thickness and begin as
shallow as 55 ft. (16.8 m). Results of the recent drilling are consistent with this style of mineralization.
There is a 2.5% NSR royalty on the Wilson patented claims. The same land owner also holds a 5% NSR on
the surrounding unpatented claims. With the recent execution of a Definitive Agreement, Goldcliff has
purchased for $25,000, a six-year option to buy down the NSR to 3% at a rate of $75,000 per percentage
point for three years, and $150,000 per percentage point for an additional three years.
Jeffery Wilson, Vice President of Exploration of Lincoln Mining Corporation, and a Qualified Person under
NI 43-101 has reviewed, prepared, and approved the scientific technical disclosure contained in this news
release.
For further information, please contact George W. Sanders, President, at 250-764-8879, toll free at 1-866-
769-4802 or email at [email protected].
GOLDCLIFF RESOURCE CORPORATION
Per: “George W. Sanders”
George W. Sanders, President
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