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Tuesday, 18th December 2007 (2864 views)

The chairman of Goldcliffe Resource Corporation (GRC) has announced the discovery of "bonanza gold grades" at the company's wholly-owned site in British Columbia.

Results from exploration at the Panorama Ridge site in Hedley were described as "major" by Leonard W Saleken. The ridge, which was discovered in 2000, is in the province's Nickel Plate gold mining district.

A one-metre channel sample interval generated 15.311 ounces of gold per short ton, with a 1.5-metre interval grading of some 4.899 ounces per short ton.

Overall, 8.084 ounces of high-grade gold per short ton were discovered in the 2.5 metres, the company confirmed.

The findings are part of an exploration programme this year with which GRC aimed to advance the property to its resource definition stage. Drilling is planned to resume in the spring of 2008.

September saw the company announce that its projects for the year were both on budget and on schedule.

 

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