Vancouver-based Goldcliff Resource Corp. (GCN:TSX.V; GCFFF:OTCBB) reported in a news release that it plans to reactivate exploration efforts at the Ainsworth silver property located near Kaslo, B.C., Canada. Goldcliff Resource's President George Sanders made the announcement and stated, "the Goldcliff claims are one of the largest land positions in the Ainsworth district," noting that from 1889 to 1964 the district hosted greater than 50 silver-lead-zinc producing properties and added that when combined with the Sandon area located nearby in the "Silvery Slocan," the region has produced 92 Moz silver.
The company indicated that its claims encompass the former No. 1 Mine, which is the largest and has historically been the highest grade producer in the entire district. The firm noted that from 1910 to 1921, the No. 1 Mine was operated by Cominco, which produced 1,993,818 ounces of silver at a recovered grade of 49.64 ounces Ag per ton.
The company commented that at that time "the ore was mined from five levels between 4100 and 4300 feet, or for a vertical extent of only 60 meters and that additional ore shoots along strike and offset at depth have never been explored using modern exploration techniques."
The company advised that it plans to institute a geophysical program to locate drill targets at depth and along strike. The firm pointed out that it owns 100% of the Ainsworth claims with no royalties or other work commitments and that the land position was acquired by staking. It also noted that it maintained the claims in good standing for more than 10 years pending a silver price environment exceeding $20 per ounce.
Read what other experts are saying about:
Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Goldcliff Resource Corp. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Goldcliff Resource Corp., a company mentioned in this article.
