Goldcliff Resource Corporation

Goldcliff Resource Corporation

November 05, 2009 15:19 ET

Goldcliff Resource Corporation: Bonanza Trench Drill Holes Return 12.45 g/t Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 5, 2009) - George Sanders, President of Goldcliff Resource Corporation (TSX VENTURE:GCN), is pleased to report that the Bonanza Trench high-grade gold mineralization horizon continues to depth with an intercept of 12.45 grams per tonne gold over 0.84 metres. This intercept occurs within a horizon of 10.52 metres grading 1.75 grams per tonne gold. The Bonanza Trench horizon is located in the York-Viking zone on the Panorama Ridge gold property in the Hedley gold district, Hedley, British Columbia, Canada.

On the Panorama Ridge property, the gold mineralized rock, which consists of silica-iron alteration referred to as skarn, is identified as the Gold Mineralized Zone (GMZ). Surface trenching and drilling by Goldcliff has identified four zones (York-Viking, Nordic, Thor, and Tower) containing the GMZ where gold grades and continuity suggest economic potential. Within the York-Viking GMZ, the Bonanza Trench drill intercepts indicate a 20-metre-wide gold mineralized horizon (the Bonanza Horizon) of undetermined length that contains multiple one metre lenses of higher gold grades. The higher grade gold lenses vary in gold values from 17.37 ounces per ton gold (595.55 grams per tonne gold) on surface to 12.45 grams per tonne (0.36 ounces per ton) at drilled depth.

In 2008, nineteen drill holes totalling 1,143.17 metres probed the York-Viking zone (YV). Fourteen of these holes were directed at the Bonanza Trench horizon area containing the high-grade gold lenses. Within the higher gold grade lenses of the horizon, twelve holes were reported as having several one metre intercepts of grades of 4.31 to 5.65 grams per tonne gold (g/t) containing anomalous values of bismuth and tellurium.

The assay results from the two remaining 2008 drill holes on the Bonanza Trench gold horizon are reported as follows:

Drill Hole From (m) To (m) Interval (m) Gold (g/t) Location YV Zone
28174 3.05 50.90 47.85 0.31 GMZ
21.96 34.86 13.90 0.60 Bonanza horizon
21.96 27.86 5.90 0.78 Bonanza horizon
22.96 24.01 1.05 1.32 Bonanza lense

28175 3.05 49.40 47.85 0.51 GMZ
15.07 25.59 10.52 1.75 Bonanza horizon
20.75 25.59 4.84 3.16 Bonanza horizon
24.75 25.59 0.84 12.45 Bonanza lense

The gold values in the two holes, and the anomalous values of bismuth and tellurium, are consistent with the surface Bonanza Gold horizon values. A new photo of the stripped Bonanza Trench area indicating the high grade lense within the Bonanza Gold horizon at the York-Viking zone is available on Goldcliff's website at

The Panorama Ridge property is located four kilometres east of the historic Nickel Plate-Mascot mine that has produced 2.5 million ounces of gold. The gold mineralization on the Panorama Ridge gold property is related to the pervasive silica-iron alteration (skarn replacement) of the Upper Triassic Nicola Group sedimentary and volcanic rocks. The property was staked in 2000 after Goldcliff prospected new logging road outcrops that exposed skarn alteration. The property has mine-related infrastructure and is readily accessed by roads. Goldcliff has discovered several gold showings and four potentially-economic gold zones. The results from the airborne geophysical survey have expanded the scope of exploration and increased the potential for the new gold discoveries within Goldcliff's claim area.

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

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or the accuracy of this news release, gcnnews2911

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