Sep 11 2013
George W. Sanders, President, reports that the Company has commenced exploration on the 100 per cent owned Panorama Ridge Project.
The project is a porphyry gold prospect with the exploration aimed to further develop the gold potential at the strong 3-D IP chargeability anomalies. The anomalous chargeability area covers approximately 3 square kilometres and is located 4 kilometres east of the historic Nickel-Plate high-grade gold producer. The Nickel-Plate underground mine had a life of mine (1904-1955) recovered grade of 13.95 g/t Au and produced 1.5 million ounces of gold. A bulk tonnage open pit mine was developed by Mascot Gold Mines in the late 1980’s and a further one million ounces of gold was produced from 1989 to 1997 at a grade of 1.97 g/t Au.
Previous surface and subsurface exploration at Panorama Ridge in the southern portion of the anomalous chargeability area has confirmed the presence of significant surface and depth gold mineralization of grades ranging from 0.05 to over 2.0 grams gold. At the York-Viking and Nordic zones, drilling has identified gold grade continuity to depths of 100 metres. The surface gold mineralization at these zones indicates a bulk tonnage open pit potential. Within the overall anomalous area, there are several other discreet zones of chargeability highs that are untested and require additional exploration.
The 2013 exploration work will concentrate on these anomalous chargeability features with a program of geochemical sampling and geological mapping. The exploration program is designed to enhance the gold potential of the strong 3D chargeability anomalies and to locate drill targets within the anomalies.
Leonard W. Saleken, PGeo (geologist) and Edwin R. Rockel, PGeo (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. The qualified persons for this report are registered professional geoscientists with the Association of Professional Engineers and Geoscientists of British Columbia.
Source: http://www.goldcliff.com/