In a news release, Goldcliff Resource Corp. (GCN:TSX.V; GCFFF:OTCBB) announced its conclusions from reviewing and analyzing the results of exploration work it did at its Nevada Rand project in the Silver State.
Those efforts encompassed underground mapping and sampling in the old Nevada Rand and Lone Star mine workings, detailed surface mapping and rock sampling, stream sediment geochemical sampling and drilling of seven diamond core holes.
Overall, from the cumulative results, Goldcliff determined that Nevada Rand has "district-scale potential to host disseminated bulk-tonnage gold deposits along with discreet, very high-grade silver-gold sweet spots," the release described.
The Canadian explorer and developer ascertained that the area of bonanza grade that was mined at the Nevada Rand shaft, Lone Star, Golden Pen and Blue Sphinx suggests a larger mineralized system on the property.
Nevada Rand contains interlayers of andesite and rhyolite with intruding subvolcanic rhyolite plugs. The veining, more prominent in the andesite, occurs along quartz sericite corridors that show silver as the dominant precious metal but also some gold and base metals.
In the rhyolite flow area, there is a classic, disseminated, Walker Lane-style epithermal system, the mineralization of which is primarily gold with some molybdenum, antimony and arsenic.
"Disseminated, bulk-tonnage gold deposits in the rhyolite flows have not been previously targeted in the Rand district and represent a compelling exploration opportunity for Goldcliff," the release noted. Accordingly, the company is systematically reviewing other historical mining districts in Nevada and Arizona to potentially pursue a position in ones of interest.
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