Graycliff Exploration Limited (CSE: GRAY) has announced high-grade gold assay results from five new drill holes at its 100-per-cent-owned Shakespeare gold project, located approximately 88 kilometres west of Sudbury, Ontario. The standout result, Hole J-62-26, returned 115.25 grams per tonne (g/t) gold over 6.0 metres, including an extraordinary 551.00 g/t gold over 1.0 metre. The results expand the company's understanding of a high-grade gold zone largely situated below historic mine workings, and investors may be watching for further assay data as drill core processing continues.

Key Points

  • Graycliff Exploration Limited (CSE: GRAY | OTCQB: GRYCF | FSE: GE0)
  • All five new drill holes — D-26 and J-62-26 through J-65-26 — intersected high-grade gold at the Shakespeare gold project near Sudbury, Ontario
  • Top result: 115.25 g/t gold over 6.0 m in Hole J-62-26, including 551.00 g/t gold over 1.0 m at a depth of 118 m; Hole J-65-26 returned 8.09 g/t gold over 10.0 m
  • Remaining samples from the drill program will be processed by Activation Laboratories Ltd.; drill core logging is ongoing

Standout Assay Results Across All Five Shakespeare Drill Holes

The release states that Hole J-62-26 delivered the program's highest-grade interval at 115.25 g/t gold over 6.0 metres at a depth of 118 metres, with an included sub-interval of 551.00 g/t gold over 1.0 metre. Hole D-26, a large-diameter metallurgical core hole, returned 26.48 g/t gold over 4.0 metres at 157 metres depth, including 75.25 g/t over 1.0 metre. Hole J-63-26 returned two distinct intervals — 4.13 g/t over 4.0 metres and 16.19 g/t over 6.0 metres — while Hole J-65-26 returned 8.09 g/t gold over a broad 10.0-metre interval, underscoring the zone's lateral continuity.

Drilling Strategy Targets Gold Zone Below Historic Shakespeare Mine Workings

Holes J-62-26 and J-63-26 were drilled on the same section as four prior metallurgical holes to build geological and assay coverage, while Holes J-64-26 and J-65-26 were drilled 12.5 metres to the east to assess the eastward extent of the main gold zone. The release notes that Hole J-64-26, drilled at -45 degrees, intersected a historic mine working where gold mineralisation may have been removed between 1903 and 1907. The current program is focused on defining the location, extent, and grade of mineralisation below these historic workings, which date back more than 120 years.

QA/QC Protocol and Qualified Person Sign-Off

Bruce Durham, P.Geo., a Qualified Person as defined by National Instrument 43-101 and Director of Graycliff, reviewed and approved the technical content of the release. Primary assay work was conducted at AGAT Laboratories Ltd. in Thunder Bay, Ontario, which holds ISO 17025 accreditation from the Standards Council of Canada. Gold analysis was performed using lead fusion fire assay with atomic absorption spectroscopy finish, with screen-metallic gold analysis applied where visible gold was observed. Holes J-63-26, J-64-26, and J-65-26 were also analysed at Activation Laboratories Ltd. under a near-identical protocol.