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Graycliff Exploration Intersects 9 Metres of Gold Mineralization Grading 10.93 g/t in Phase 4 Drilling at Shakespeare Project near Sudbury

Sep 29, 2022

Graycliff Exploration Limited (CSE: GRAY) (OTCQB: GRYCF) (FSE: GE0) (the "Company" or "Graycliff") is pleased to release first assay results from Phase Four drilling program at its Shakespeare Gold Project located on the Canadian Shield near Sudbury, Ontario. Phase Four drilling focused on testing the boundaries of the mineralized zone, both along strike and at depth.

Drill Hole J-48 intersected 10.93 grams per tonne of gold ("g/t Au") over 9.0 metres ("m"), including 19.0 g/t Au over 1.0 m, 28.6 g/t Au over 1.0 m and 24.5 g/t Au over 1.0 m. Drill Hole J-46 intersected 4.43 g/t Au over 7.0 m, including 6.84 g/t Au over 1.0 m and 18.8 g/t Au over 1.0 m. Significant intervals for Holes J-46 to J-48 are detailed below.

James Macintosh, Graycliff's President and CEO, stated: "The first three holes from this phase of drilling intersected the strongly sericitized, altered and veined zone we have been defining proximal to the Miller Shaft. Visible gold was noted in both Holes J-46 and J-48, with the occurrence of visible gold and good assays in Drill Hole J-46 representing the most westerly gold intersection to date at depth from the Miller Shaft. The gold zone remains untested westerly and below Drill Hole J-46. These results provide further evidence that strong gold grades exist throughout the mineralized zone. We look forward to receiving more assays from the initial holes drilled in this program."


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