Goldcliff Resource Corporation

Goldcliff Resource Corporation

October 07, 2010 14:54 ET

Goldcliff Highlights Prime Silver Target

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2010) - George W. Sanders, President of Goldcliff Resource Corporation (TSX VENTURE:GCN), reports that Goldcliff has established a prime silver exploration target area, known as the Big-C, on the Company's 100-percent-owned Ainsworth claim block near Kaslo, British Columbia, Canada. The Big-C target is a multi-sensor airborne geophysical conductor system that contains strongly anomalous silver values of 2.94 grams per tonne silver and pathfinder elements. The Big-C airborne geophysical conductor system is over 500 metres in width and 700 metres in length. The geophysical anomaly has multi-geophysical features with a strong electro-magnetic conductor that trends in a northwest direction. The corresponding anomalous silver values range from 1.02 to 2.92 grams/tonne. The Big-C target is located approximately one kilometre north of the historic No.One silver mine in the Kootenay Mining Region. The No.One mine has produced 1,993,818 ounces of silver at a grade of 49.64 ounces per ton (1,707.78 grams/tonne), with much of this silver ore occurring as native silver (wire-silver). The Big-C target area is completely overburden-covered and the targets are interpreted to be near surface in a similar geological setting to the No.One mine. Permits are in place for trenching and drilling in the Big-C area.

The Big-C target is situated on a topographic-high saddle with good road access for easy ground exploration. The airborne conductive system has been verified by ground geophysics. The initial soil geochemical sampling survey over the conductor is returning strongly anomalous silver values in the range of 1.02 to 2.94 grams/tonne. The pathfinder elements are anomalous in arsenic (56.3 ppm As), cadmium (5.19 ppm Cd), cobalt (172.9 ppm Co), chrome (1345 ppm Co), copper (372 ppm Cu), iron (36.28 % Fe), lead (539 ppm Pb), molybdenum (16 ppm Mo), nickel (361 ppm Ni) and zinc (466 ppm Zn). The pathfinder elements are characteristic of the No.One mine silver ore mineralization and of the other Kootenay Arc silver deposits in the Kootenay Mining Region.

Conducted in 2007, Goldcliff's multi-sensor airborne geophysical survey detected 22 geophysical anomalies with silver exploration potential. Covering a distance of approximately 25 kilometres, these anomalies – which have been developed into five exploration target areas -- are situated in a belt of Kootenay Arc geology that occurs between the Ainsworth and Kaslo-Keene Creek silver camps. To date, preliminary ground exploration on two of the targets (Big-C and Bjerk) have returned positive results and indicated promising silver potential. The Big-C target is located north of Ainsworth and the Bjerk target is located south of Kaslo.

The Kootenay Mining Region has historic silver production totalling 99.6 million ounces. The Kootenay Mining Region is situated in the Kootenay Arc, a similar geological setting to the Coeur d'Alene silver camp. The Coeur d'Alene silver camp (Idaho, USA), in which mines are still producing silver, has a reported historic silver production of 1.2 billion ounces. The Ainsworth and Kaslo-Keene Creek silver camps have historic silver production of 4.65 million ounces.

The Kootenay Mining Region is located in the central part of the Kootenay Arc, a curving belt of complexly deformed Paleozoic rocks (older rocks). These older rocks have been intruded by Mesozoic and Cenozoic intrusive rocks, and range in age from Lower Cambrian to Upper Triassic. The older rocks are mica schists, limestones, homblende schists, quartzites and slates of the Lardeau, Milford, and Kaslo Formations, and the Slocan Group. Throughout the region, the rocks are metamorphosed, foliated and faulted in a north-south direction. The silver ore mineralization is associated with pyrite, galena, sphalerite, chalcopyrite, pyrrhotite and arsenopyrite. At the No.One mine, the silver ore was native silver (wire-silver).

Leonard W. Saleken, PGeo (geologist) is the qualified person as defined by National Instrument 43-101 who supervised the preparation and verification of the technical information in this release.


George W. Sanders, President, Director

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