Leonard W. Saleken, Chairman of Goldcliff Resource Corporation (TSX
VENTURE:GCN), reports that Goldcliff has made the first significant
porphyry copper ore grade discovery in the Copper Mountain mining
district in decades. With surface samples highlighted by 0.655%
copper - almost double the current reserve grades at the Copper
Mountain Mine - and 1.3 grams per tonne silver, the Trojan showing
is part of the Bolas anomaly, which is located in the Whipsaw
target on the Tulameen property in the Copper Mountain mining
district near Princeton, BC, Canada. The Tulameen property is 100
per cent owned by Goldcliff.
The three-pronged Bolas anomaly also contains the Eagle showing,
which is highlighted by 0.175% copper and 1.0 grams per tonne
silver. The copper mineralization on both the Trojan and the Eagle
showings is chalcopyrite with malachite, and the iron sulphides are
pyrite and pyrrhotite along with magnetite. These showings are
situated on surface, above the substantial Bolas deposit-style
chargeability anomaly. The Bolas anomaly is 2,000 long by 1,200
metres wide, and merges to form an area of 1.5 square kilometres at
about 300 metres.
The Whipsaw alkalic porphyry copper-silver target area is
located along the Copper Mountain south-west copper trend,
approximately seven kilometres south-west of the Copper Mountain
ore bodies. The Copper Mountain mineral reserves are 232,776,000
tons grading 0.36% Cu, 0.09 Au and 1.25 g/t Ag. The Trojan and
Eagle showings are associated with the Bolas anomaly, which
contains disseminated sulphide mineralization in the 3 to 5%
range.
Trojan Showing
Similar to Goldcliff's previous gold discovery at Panorama
Ridge, the Trojan showing was discovered along a reclaimed logging
road. It is located 350 metres west of the Eagle showing. Coarse
grained, green gabbro float was found over a strike length of 110
metres along the road, with variable quartz-carbonate veining,
epidote and fracturing. The chalcopyrite and malachite were found
within the gabbro at a number of locations along the road,
occurring within quartz veinlets, along fractures, and as
disseminations. Pyrite was relatively rare, generally occurring in
concentrations less than 1%.
The rock samples of local float collected along the road gave
anomalous copper values ranging from 192 to 6549 ppm. The highest
copper value of 6549 ppm (1201120033) was of gabbro with limonite,
malachite and chalcopyrite occurring along fractures, along with
pin pricks of disseminated chalcopyrite and malachite. This sample
was also strongly magnetic, with magnetite occurring as fine
grained disseminations and blebs. A sample of gabbro (1201120034)
with malachite occurring along fractures gave a copper value of
4727 ppm, while a sample of a 6 centimetre wide quartz vein
(1201120029) with malachite and chalcopyrite gave a copper value of
3970 ppm. A float sample (1201120041) of a light grey-green dyke
located midway between the Trojan and Eagle showings gave an
anomalous copper value of 527 ppm. The dyke contains 5%
fine-grained disseminated pyrite along with rusty fractures.
----------------------------------------------------------------------------
Trojan Copper Showing-Ore Grade Conversion
----------------------------------------------------------------------------
Ore-Pathfinder Elements
Cop- Sil-------------------------------------------------------
per ver Au As Ba Ca Co Cr Fe Mo Ni Pb Zn
------------------------------------------------------------------
Samples % g/t ppb ppm ppm % ppm ppm % ppm ppm ppm ppm
----------------------------------------------------------------------------
1201120033 0.655 1.3 80 0.7 66.0 2.63 66.3 353.0 8.99 0.44 112.4 2.9 38.3
----------------------------------------------------------------------------
1201120034 0.473 0.8 30 0.7 40.0 2.32 29.5 182.5 3.03 0.76 56.3 0.2 26.9
----------------------------------------------------------------------------
1201120029 0.397 4.8 4 0.4 9.0 0.15 1.2 223.5 0.82 3.94 5.1 0.2 0.9
----------------------------------------------------------------------------
1201120031 0.047 0.4 5 0.7 125.5 1.24 34.5 208.5 4.51 1.03 82.2 0.1 76.8
----------------------------------------------------------------------------
1201120030 0.032 0.3 10 0.8 89.0 6.83 26.7 153.5 4.95 2.39 24.2 0.4 53.5
----------------------------------------------------------------------------
1201120032 0.026 0.1 5 1.0 127.5 3.06 33.5 201.0 4.43 0.90 78.9 0.1 40.3
----------------------------------------------------------------------------
1201120035 0.019 0.1 10 0.6 133.5 3.93 5.3 203.0 1.19 3.04 9.8 1.0 10.1
----------------------------------------------------------------------------
1201120041 0.053 0.5 15 1.2 75.0 1.28 19.5 98.5 4.46 0.27 22.6 0.1 29.0
----------------------------------------------------------------------------
Eagle Showing
Located on a prominent knoll at the end of an old mining road,
the Eagle showing was discovered in 1972, at which time no sample
values were reported. Two bulldozer trenches, each approximately 75
metres long, criss-cross the knoll, and a coarse grained, green
gabbro is intermittently exposed in the trenches. Weak fractures
within the gabbro contain limonite and 1 to 3% pyrite, along with
rare 1 centimetre quartz-carbonate and epidote veinlets with
pyrite. Disseminated pyrite was noted adjacent to some fractures.
Malachite and chalcopyrite were rare. One sample (1201120040) of
gabbro float, giving an anomalous copper value of 1753 ppm, had
limonite, malachite and chalcopyrite occurring along fractures.
----------------------------------------------------------------------------
Eagle Copper Showing-Ore Grade Conversion
----------------------------------------------------------------------------
Copper Ore-Pathfinder Elements
----------------------------------------------------
Copper Silver Au As Ba Ca Co Cr Fe Mo Ni Pb Zn
------------------------------------------------------------------
Samples % g/t ppb ppm ppm % ppm ppm % ppm ppm ppm ppm
----------------------------------------------------------------------------
1201120040 0.175 1.0 25 0.6 69.5 1.70 31.9 88.5 3.13 0.17 24.6 0.3 53.0
----------------------------------------------------------------------------
1201120037 0.004 0.1 15 0.8 89.5 10.01 11.7 74.5 1.96 0.13 11.2 1.2 15.0
----------------------------------------------------------------------------
1201120039 0.003 0.1 5 0.5 44.0 2.40 29.7 76.5 6.03 0.15 25.7 0.9 32.7
----------------------------------------------------------------------------
1201120038 0.002 0.1 20 1.0 24.5 10.01 31.5 63.5 7.93 0.12 28.3 1.8 55.2
----------------------------------------------------------------------------
Bolas 3-D IP Anomaly
The deposit-style Bolas chargeability anomaly is a disseminated
iron sulphide body that is located near surface and extends to an
estimated depth of 500 metres in Upper Triassic Nicola Group rocks.
The Bolas anomaly measures approximately 2,000 meters in a
northwest direction by about 1,200 meters southwest. At a depth of
around 300 meters, the anomaly merges to form a chargeable body of
the order of 1,800,000 square meters or 1.8 square kilometres in
size. The iron sulphide content of the rocks within the Bolas
anomaly is estimated to be 3 to 5%.
Chargeability
The Bolas chargeability anomaly is a three-pronged star feature
with a vertex centre and three end nodes that are referred to as
the Whip, Elk and Eagle node areas of chargeability. Close to the
surface, the chargeability response millisecond (ms) levels are
weak to moderate. With increasing depth, the chargeability response
millisecond levels become stronger and begin to merge at about 150
meters in depth. As depth continues to increase, the chargeability
star features ultimately merge to form the continuous chargeability
anomalous area. The chargeability values in the Bolas anomaly reach
their maximum (25 to 30 ms) at about 300 meters below surface and
then begin to fade to around 20 to 25 ms at 500 meters.
Whipsaw Target Area
Magnetic Environment
The most visible magnetic feature of the Whipsaw Target is a
strong, broad, crescent-shaped magnetic high that fills more than
half of the area. Inversion of the ground magnetic indicates that
the deep-seated, crescent-shaped magnetic high is consistent with a
deep-seated magnetic intrusive rock. A similarly intense, broad
crescent-shaped magnetic high in the Copper Mountain area
corresponds with mapped diorite intrusive rock and suggests that
the magnetic high in the Whipsaw area may well be caused by the
same rock type at depth.
The Whipsaw crescent-shaped, magnetic high partially surrounds a
subcircular magnetic feature that is low, compared to the
crescent-shaped high, but higher relative to magnetic background
seen to the north. Once again, a similar pattern can be observed in
the Copper Mountain area. There the subcircular magnetic feature
corresponds with rocks mapped as monzonite and syenite, suggesting
that the deep subcircular magnetic feature at Whipsaw may also be
caused by a similar, less magnetic rock type. Strong chargeability
anomalies occur within the subcircular magnetic feature.
Resistivity Data
Analysis of inverted resistivity data, with help from
chargeability and magnetic inversions as well as magnetic
intensity, indicates that the Princeton/Nicola contact may be
vertical to sub-vertical and that the Princeton Group rocks could
vary from about 150 to over 500 meters in depth, possibly over
Nicola Group rocks. This may mean that the area of Princeton rocks
could be down-dropped relative to the Nicola rocks across a
fault-forming graben. If this is case, the deep moderate to weak
chargeability anomalies seen in the area of Princeton rocks may
then reflect the tops of chargeable material buried within Nicola
rocks.
Grant F. Crooker, P.Geo. (geologist), and Edwin R. Rockel,
P.Geo. (geophysicist), are the qualified persons as defined by
National Instrument 43-101 who supervised the preparation and
verification of the technical information in this release.
GOLDCLIFF RESOURCE CORPORATION
Leonard W, Saleken, Chairman, CEO, Director
Neither TSX Venture Exchange nor its Regulation Service Provider
(as that term is defined in the policies of the TSX Venture
Exchange) accept responsibility for the adequacy or the accuracy of
this news release, gcnnews201106
Contacts: Goldcliff Resource Corporation George W. Sanders
President 250-764-8879 or Toll Free: 1-866-769-4802 604-261-8994
(FAX)sanders@goldcliff.com or
info@goldcliff.comwww.goldcliff.com
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