Graycliff drills 67 g/t Gold over 3.0 metres
Graycliff Exploration Drills 67 g/t Gold
Over 3.0 Metres Near Surface
TORONTO, ON - May 19, 2021 - Graycliff Exploration Limited (the “Company” or “Graycliff”) (CSE: GRAY)
(OTCQB: GRYCF) (FSE: GE0) is pleased to announce limited assay results of the first drill hole of its over 2,000
metre (“m”) phase two core drilling program (see Press Release dated April 22, 2021) on the Company’s
Shakespeare Gold Project located on the prolific Canadian Shield near Sudbury, Ontario.
Drill Hole J-8-21 intersected a mineralized interval of 66.98 g/t gold (“Au”) over 3.0 m, as detailed below:
Drill Hole From (m) To (m) Width (m)1 Au (g/t) 2
J-8-21
102.0 105.0 3.00 66.98
Including
102.3 103.0 0.70 90.00
And
104.0 105.0 1.00 137.00
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.
Table 1 – Partial Results from Hole J-8-21
“While the Company is not in the practice of releasing partial results from its drill holes, the results received
were significant enough to warrant their immediate release. We are optimistic that the results from the
additional samples from hole J-8-21 that are currently at the lab will be available in the near future.
Obviously, more than 2 ounces per ton over 3 metres is an exceptional start for our phase two drilling
program,” stated President and CEO, James Macintosh.
This high-grade gold intersection in drill hole J-8-21 is located approximately 30 m down -dip of the
mineralization reported from drill hole J-7-20 that highlighted an interval grading 8.59 g/t Au over 5.5m (see
Cross Section “A-A” in Press Release dated March 24, 2021). Sample materials from several other drill holes
have been delivered to the assay lab and those assay results are expected to be available in somewhat regular
intervals over the coming weeks.
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.
For more information, contact investor relations at [email protected]
On Behalf of the Board of Directors,
James Macintosh
President and CEO
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility
for the adequacy or accuracy of this press release.
This press release may include forward-looking information within the meaning of Canadian securities legisl ation,
concerning the business of the Company. Forward -looking information is based on certain key expectations and
assumptions made by the management of the Company. Although the Company believes that the expectations and
assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed
on the forward-looking information because the Company can give no assurance that they will prove to be correct.
Forward-looking statements contained in this press release are made as of the date of this press release. The Company
disclaims any intent or obligation to update publicly any forward -looking information, whether as a result of new
information, future events or results or otherwise, other than as required by applicable securities laws.