- Graycliff Exploration (GRAY) has completed the Phase 4 drilling program at its Shakespeare Gold Project
- Over the four phases of drilling, Graycliff has drilled 61 holes covering more than 12,500 metres, with 40 per cent of the holes showing visible gold
- The next phase of drilling will focus on the priority gold targets
- Graycliff Exploration is focused on the acquisition, exploration, development and extraction of precious metals
- Graycliff Exploration Limited (GRAY) is unchanged on the day, trading at C$0.07 per share at 1 pm ET
Graycliff Exploration (GRAY) has completed the Phase 4 drilling program at its Shakespeare Gold Project in the Sudbury Basin in Ontario.
The program focused on testing the boundaries of the mineralized zone and successfully expanded its width and depth.
The company also received the results from Holes 54, 55 and 56. Hole 54 returned 3.0 metres (m) grading 1.04 grams per tonne of gold (g/t Au) at a depth of 234 m and 1.0 m of 3.26 g/t Au at the depth of 261 m.
Graycliff completed 4,550 metres of drilling over 16 holes in Phase 4, with multiple high-grade, significant-width intervals that identify several areas of mineralization deeper in the system. The presence of free gold from near surface to current depths (up to 250 metres) is very encouraging and signals the potential of the mineralized zone to continue along strike and at depth.
Graycliff is currently in the process of completing the large diameter drill holes planned to collect material for the company’s metallurgical study, and that will provide further information about the consistency of the mineralization at the Shakespeare project.
Phase 4 highlighted holes include:
- J-48: 9.0 m of 10.93 g/t Au, incl. 1.0 m of 19.0 g/t Au, 1.0 m of 28.6 g/t Au, and 1.0 m of 24.5 g/t Au
- J-49: 6.0 m of 10.09 g/t Au at depth of 195 m, incl. 1.0 m of 23.80 g/tAu,1.0 m of 15.40 g/t Au, and 1.0 m of 12.70 g/t Au
- J-52: 3.0 m of 14.39 g/t Au at a depth of 178 m, incl. 1.0 m of 41.00 g/t Au
- J-53: 5.0 m of 5.35 g/t Au at a depth of 185 m, incl. 1.0 m of 21.40 g/t Au
- J-54: 1.0 m of 3.26 g/t Au at a depth of 261 m
Over the four phases of drilling, Graycliff has drilled 61 holes covering more than 12,500 metres. A total of 38 of the 61 holes had anomalous intervals, and 40 per cent of those holes had visible gold.
The next phase of drilling will focus on the priority gold targets, some of which may have associated critical minerals.
Graycliff Exploration is focused on the acquisition, exploration, development and extraction of natural resources, specifically precious metals.
Graycliff Exploration Limited (GRAY) is unchanged on the day, trading at C$0.07 per share at 1 pm ET.