Graycliff Exploration has reported its first results from drilling on the Shakespeare gold project 84 kilometres west of Sudbury, Ont. From Hole A, the company’s first test, results returned an extremely high grade of 3030 g/t gold over a 1-metre interval.
Other results include 454.34 g/t gold over 7 metres and 83 g/t gold over 1 metre.
“While we drilled this hole in the vicinity of earlier gold-bearing drill intervals, the gold value of this intersection is clearly well beyond our expectations,” said James Macintosh, the chair of Graycliff. “These results are extremely encouraging and while we recognize it is all about ‘average grade’ extreme high grade intersections like these enhance the overall average.”
Graycliff said it is evaluating all project data after drilling 61 holes, as gold prices rise, to refine models and plan future operations.
The Shakespeare gold mine was operated from 1903 to 1907. To date, Graycliff has drilled over 12,500 metres on prospective ground located on the Canadian Shield. The company anticipates the assay results for the remaining two metallurgical test holes in the coming weeks, as it begins to reactivate work on Shakespeare.
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