Graycliff Exploration Expands Property Package by Acquiring Lunge Project
Graycliff Exploration Expands Property Package by Acquiring Lunge Project
Toronto, Ontario--(Newsfile Corp. - March 2, 2023) - Graycliff Exploration Limited (CSE: GRAY) (OTCQB: GRYCF) (FSE: GE0) (the "Company" or "Graycliff") is pleased to announce that it has acquired the Lunge Project ("Lunge") located on the prolific Canadian Shield in the Sudbury Basin of Ontario. The newly acquired project comprises 27 claim units covering 601 hectares. Graycliff's total property package in this mineral-rich area now comprises 3,674 hectares spanning across three projects (see Figure 1).
安大略省多倫多-(Newsfile Corp.-2023年3月2日)-格雷克利夫勘探有限公司(CSE：GRAY)(OTCQB：GRYCF)(FSE：GE0)(The“公司“或”格雷克利夫“)很高興地宣佈，它已經收購了位於安大略省薩德伯裏盆地多產的加拿大盾牌上的Arge項目(”Arge“)。新收購的項目包括27個索賠單元，佔地601公頃。Graycliff在這一礦產豐富地區的全部物業組合現在包括3,674公頃，橫跨三個項目(見圖1)。
The Lunge Project is located 6 km to the north-east of the Baldwin property boundaries, approximately 70 km west of Sudbury, with excellent infrastructure and road access. All three projects are proximal to Magna Mining's advanced-stage Shakespeare nickel-copper-PGM project, and Lunge sits on the same geological trend as Graycliff's Shakespeare and Baldwin Projects.
Arge項目位於鮑德温地產邊界東北6公里處，薩德伯裏以西約70公里處，擁有一流的基礎設施和道路通道。這三個項目都靠近麥格納礦業的高級階段莎士比亞鎳銅PGM項目，而Arge的地質趨勢與格雷克利夫的莎士比亞和鮑德温項目相同。
The Project lies along the southern margin of the Archean aged Superior Province, proximal to where it is overlapped by sedimentary rocks of the Huronian Supergroup. The area is host to intrusive rocks with significant copper-nickel-PGM mineralization and, similar to Shakespeare, there is also gold mineralization.
該項目位於太古宙古老的蘇必利爾省的南緣，靠近其與胡隆超羣的沉積巖重疊的地方。該地區是侵入巖的宿主，具有顯著的銅-鎳-鉑族元素礦化，與莎士比亞相似，也有金礦化。
Previous work on the property completed by Mustang Minerals includes grab sampling and limited drilling (see Figure 2). Highlighted drill holes include MH03-01 which returned historic results of 1.14 grams per tonne of gold ("g/t Au") over 1 metre ("m") with 0.28% combined Copper-Nickel ("Cu-Ni"); and MH03-03 which returned 0.46% Cu-Ni over 1.50 m.
Mustang Minerals之前完成的該地產工作包括抓取採樣和有限鑽探(見圖2)。重點鑽孔包括MH03-01和MH03-03，MH03-01在1米(“m”)以上返回了每噸1.14克黃金(“g/t Au”)的歷史結果，銅-鎳(“銅-鎳”)的組合含量為0.28%；以及MH03-03在1.50米(“m”)上返回了0.46%的銅-鎳。
A geophysical survey completed on Lunge by a previous operator reportedly identified a sulphide-rich horizon associated with a 900 m long IP conductor with significant precious and critical minerals values. The conductor is open at both ends and at depth and is interpreted to be hosted within the main gabbro sill on the property which has a strike length more than 4.5 km. Given the limited work completed to date and the presence of nickel and copper bearing sulphides as well as gold, the target gabbro sill warrants further exploration, including core drilling.
據報告，前一位操作員在衝刺時完成的地球物理勘測發現了與900米長激電導體有關的富含硫化物的地層，具有重要的貴重和關鍵礦物價值。導線在兩端和深度都是開放的，據解釋，它位於走向長度超過4.5公里的該物業的主輝長巖窗臺內。鑑於迄今完成的工作有限，而且存在含鎳、銅的硫化物以及金，目標輝長巖巖牀需要進一步勘探，包括巖心鑽探。
James Macintosh, President & CEO, says: "The Sudbury Basin is an excellent place to carry out exploration. We are pleased to add another Sudbury-based project to our portfolio, especially given its geological and structural similarities to our existing projects. Last year's airborne geophysics showed that our gold properties have targets that might also contain strong copper, copper-nickel and PGM mineralization, which need further investigation. The newly acquired Lunge Project falls into the same category, particularly considering its proximity to Magna's Shakespeare Project and the prolific Sudbury Nickel Belt. Given the market sentiment that currently favours both gold and critical minerals, Graycliff is in a good position to make exciting new discoveries on all three of the projects it owns."
總裁首席執行官詹姆斯·麥金託什表示薩德伯裏盆地是進行勘探的絕佳地點。我們很高興將另一個基於薩德伯裏的項目加入我們的投資組合，特別是考慮到它與我們現有項目在地質和結構上的相似之處。去年的航空地球物理顯示，我們的金礦有可能也含有強烈的銅、銅鎳和鉑金礦化的目標，這需要進一步調查。新收購的弓箭項目屬於同一類別，特別是考慮到它靠近麥格納的莎士比亞項目和多產的薩德伯裏鎳帶。鑑於目前市場情緒看好黃金和關鍵礦物，格雷克利夫公司處於有利地位，將在其擁有的所有三個項目上做出令人興奮的新發現。“
Under the terms of the Acquisition, Graycliff will issue 2,000,000 common shares of the Company for a 100% interest in the Lunge Project, subject to a 2% net smelter return royalty ("NSR"). Graycliff will have the right to purchase 1% of the NSR in return by paying the Vendor $1,000,000.
根據收購條款，Graycliff將發行2,000,000股本公司普通股，以換取Arge項目的100%權益，但須支付2%的冶煉廠淨收益(“NSR”)。格雷克利夫將有權購買NSR 1%的股份，作為回報，他將向供應商支付100萬美元。
Qualified Person
有資格的人
Bruce Durham, P.Geo, is a Qualified Person, as that term is defined by Canadian regulatory guidelines under NI 43-101, and has read and approved the technical information contained in this press release.
Bruce Durham，P.Geo是一名合格人員，因為該術語由NI 43-101下的加拿大監管指南定義，並已閲讀並批准了本新聞稿中包含的技術信息。
All sampling results and other technical information in this release are historic in nature and should not be relied upon as the QP is unable to verify the detail given the work was completed by a prior operator.
本新聞稿中的所有抽樣結果和其他技術信息都是歷史性的，不應依賴，因為QP無法核實細節，因為工作是由先前的操作員完成的。
About Graycliff Exploration Limited
關於格雷克利夫勘探有限公司
Graycliff Exploration is a mineral exploration company focused on its 3,674 hectares of prospective ground, located roughly 80 kilometres west of Sudbury on the prolific Canadian Shield. The Company's Shakespeare Project consists of one crown patented lease, two crown leases and 40 claims totalling 1,468 hectares on a property associated with the historic Shakespeare Gold Mine, which operated from 1903 to 1907. Graycliff to date has drilled over 12,500 metres at Shakespeare, with visible gold identified in multiple holes. Graycliff's Baldwin Project is adjacent to the east and covers 1,605 hectares. Airborne geophysics identified numerous new gold, copper, nickel-copper and platinum group element target areas on both projects. The newly acquired 601-hectare Lunge Project is located 6 km north-east of Baldwin and has gold and critical minerals potential.
格雷克利夫勘探公司是一家礦產勘探公司，專注於其3674公頃的潛在土地，位於薩德伯裏以西約80公里處，位於多產的加拿大盾牌上。本公司的莎士比亞項目包括一個皇冠專利租約、兩個皇冠租約以及與歷史悠久的莎士比亞金礦相關的40項索賠，總面積為1,468公頃，該金礦於1903年至1907年運營。到目前為止，格雷克利夫在莎士比亞已經鑽了超過12,500米，在多個洞中發現了可見的黃金。格雷克利夫的鮑德温項目毗鄰東部，佔地1,605公頃。航空地球物理在這兩個項目上確定了許多新的金、銅、鎳銅和鉑族元素目標區。新收購的601公頃的Arge項目位於鮑德温東北6公里處，具有金礦和關鍵礦產潛力。
Learn more on the website: .
在網站上了解更多信息：。
On Behalf of the Board of Directors,
James Macintosh
President and CEO
我謹代表董事會：
詹姆斯·麥金託什
總裁與首席執行官
For more information, please contact:
如需更多信息，請聯繫：
Iryna Zheliasko, Investor Relations
iryna@grovecorp.ca
1-647-249-9298
投資者關係部Iryna Zheliasko
郵箱：iryna@groveorp.ca
1-647-249-9298
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of this press release
加拿大證券交易所及其監管服務提供商均未對本新聞稿的充分性或準確性進行審查或承擔責任
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based on are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
本新聞稿可能包括加拿大證券法所指的有關公司業務的前瞻性信息。前瞻性信息是基於公司管理層做出的某些關鍵預期和假設。儘管公司認為這些前瞻性信息所基於的預期和假設是合理的，但不應過度依賴前瞻性信息，因為公司不能保證這些信息將被證明是正確的。本新聞稿中包含的前瞻性陳述是自本新聞稿發佈之日起作出的。除適用的證券法要求外，公司沒有任何意圖或義務公開更新任何前瞻性信息，無論是由於新信息、未來事件或結果或其他原因。
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