Goldcliff Resource Corporation

Goldcliff Resource Corporation

November 29, 2007 20:56 ET

Goldcliff Discovers New Targets in the Ainsworth Silver Camp

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 29, 2007) - Leonard W. Saleken, Chairman of Goldcliff Resource Corporation (TSX VENTURE:GCN) is pleased to report that promising new exploration targets have been discovered on the Ainsworth silver property. The property is 100-per-cent-owned by Goldcliff and is located in the Kootenay region of south-eastern British Columbia. The first phase of exploration has discovered significant new targets in the Ainsworth silver camp that historically has produced 44 million ounces of silver. Goldcliff is very encouraged by these new targets and is eager to proceed with the next phase of exploration, which is designed to discover new mineral deposits on the property in the Ainsworth silver camp.

2007 Airborne Geophysical Survey

Goldcliff's new exploration targets resulted from Fugro's "Resolve" airborne geophysical survey. This survey, which consisted of flying 910 line kilometres over 16,000 hectares of the Ainsworth property, returned modern, high quality, multi-sensor geophysical information pertaining to the discovery of new mineral deposits in the Ainsworth silver camp. The geophysical survey was supervised and the data is being interpreted by Goldcliff's geophysicist, Edwin Rockel, PGeo.

Airborne Targets Identified

After examining of the preliminary 2007 airborne geophysical data, the first phase exploration program on the Ainsworth property has identified a number of significant new exploration targets. The new targets are comprised of important magnetic, electromagnetic and radiometric signature anomalies. The signature anomalies in the targets are important identifiers that help focus exploration and aid in discovery of new deposits related to silver, gold, copper, lead and zinc mineralization. The majority of the targets occur in covered regions and were not discovered by previous exploration. The new targets occur both at depth below overburden and in surface outcrops containing favourable geology for silver deposits on Goldcliff's Ainsworth camp property.

2007 Ground Programs

Goldcliff's stream sediment sampling and prospecting program was a detailed follow-up to the British Columbia Geological Survey's regional stream sediment sampling program (RGS) that returned a number of anomalous precious and base metal values. Goldcliff's program consisted of stream sediment and rock sample collection. The samples have been shipped to the analytical laboratory for assaying. The ground program was supervised by Goldcliff's consulting geochemist, Sam Zastavnikovich, PGeo.

When Goldcliff receives the final geophysical interpretations and all assay data, a program summary of results will be issued.

Property Setting

The Ainsworth silver property covers 18,176 hectares (44,896 acres) of the camp's prospective mineral deposit discovery area. Goldcliff's silver-deposit exploration model involves discovering new silver deposits in an historical silver camp that has produced 44 million ounces of silver. The Goldcliff model consists of targeting new deposits in host rocks that are receptive to silver mineralization associated with massive sulphides (VMS), veins, breccias, structural breaks, stock-works and intrusive-sedimentary contacts.


The first phase of exploration has discovered significant new exploration targets in the Ainsworth silver camp on Goldcliff's property. The targets are significant and promising for the discovery of new deposits in the camp. Goldcliff is very encouraged with the first phase of exploration and is planning follow-up work in 2008.

Corporate News

On corporate matters, Gary Moore, Director, has been appointed to the audit committee as of this date. The Company has granted 150,000 stock options at a price of $0.165 to employees and consultants for a period of two to five years as of November 29, 2007.

Technical Verification

Edwin R. Rockel, PGeo (geophysicist) and Leonard W. Saleken, PGeo (geologist) are the qualified persons as defined by National Instrument 43-101 who supervised the preparation and verification of the technical information in this release.


Leonard W. Saleken, PGeo, Chairman, CEO, Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this news release, gcnnews2719.

Contact Information