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Goldcliff Resource Corporation: Metallic Gold Assays Over 17 Ounces Comfirm Bonanza Gold Grades at Panorama Ridge

Posted on: Thursday, 10 January 2008, 15:00 CST

Leonard W. Saleken, Chairman of Goldcliff Resource Corporation (TSX VENTURE: GCN), is pleased to report that the Company has confirmed the bonanza gold grades by metallic assay at the Company's 100%-owned Panorama Ridge property near Hedley, B.C. The high-grade gold values have been re-assayed by metallic methods and confirm that the bonanza gold grades are not subject to a "gold nugget-effect". The metallic gold assaying has improved the gold grades in the Bonanza Trench to 17.368 gold ounces per short ton over 1.00 metre or 9.210 gold ounces per short ton over 2.50 metre. The bonanza gold grades are a major discovery on the Panorama Ridge property.

Bonanza Trench Gold Results

The Bonanza Trench, which was excavated at the south-western portion of the York-Viking zone, has multi-ounce, high-grade gold results. The following metallic gold values are continuous channel samples and are reported in grams per tonne (g/t) and ounces per short ton (oz/t):

 Metallic Assays (new gold results)    From        To      Interval        Metallic Gold         Metallic Gold      (m)       (m)           (m)                (g/t)                (oz/t)    1.50      2.50          1.00               596.00                17.368    2.50      4.00          1.50               194.00                 5.658 Combined                   2.50               315.82                 9.210 Non-metallic Assays (previously reported gold results December 17, 2007)    From        To      Interval    Non-metallic Gold     Non-metallic Gold      (m)       (m)           (m)                (g/t)                (oz/t)    1.50      2.50          1.00               525.00                15.311    2.50      4.00          1.50               168.00                 4.899 Combined                   2.50               277.20                 8.084 

Gold Assay Procedures

In the metallic gold assay procedure, the rock sample is two-stage crushed to minus 10 mesh and split to achieve a 250 gram pulp-assay-sub sample. The 250 gram pulp-assay-sub sample is pulverized to a fineness such that approximately 95% will pass through a minus 140 mesh screen.

The 250 gram pulp-assay-sub sample is then screened through a 140 mesh screen. The fraction that passes through the screen is called the undersize. The fraction that does not pass through the screen is called the oversize. The undersize fraction is then weighed and rolled to ensure homogeneity and two 30 gram sub-samples are taken from this fraction and fire assayed for gold. The plus 140 mesh material (oversize fraction) is assayed entirely. Each metallic assay requires three fire assay analyses to achieve a result. The resultant fire assay beads are digested with acid and after parting are analyzed on a Perkin-Elmer atomic absorption spectrophotometer using an air-acetylene flame to a detection limit of 0.03 grams per tonne.

The gold values are then calculated back to the original sample weight which provides a net gold value for the rock sample that is based on two minus 140 values and a single plus 140 mesh value. Results are collated by computer and are printed along with accompanying quality control data (repeats and standards).

Though not as rigorous as the metallic, the non-metallic (regular) gold assay procedure follows the same basic steps as the metallic procedure. However, unlike the metallic procedure, which does assay the plus 140 mesh material, the non-metallic procedure does not assay a sample's oversize fraction. Furthermore, the non-metallic procedure does not require three fire assay analyses to achieve a result as does the metallic procedure.

Samples are redone if the quality control standard is outside 2 standard deviations or if the blank is greater than 0.015 g/t.

Conclusions

The metallic assay procedures are often used when multi ounce gold grades occur and when samples are suspected to contain coarser gold. As explained above, in addition to producing a coarse (oversize) and fine (undersize) fraction for analyses, the rigorousness of the metallic procedure assures accuracy. In the case of Bonanza Trench samples, the procedures indicate that while some coarse gold is present it is not disproportionately represented in the overall sample composition. The fine (undersize) fraction contains the majority of the gold and accordingly, the samples are not subject to a "gold nugget-effect".

In the Hedley gold camp, the gold mineralization that is associated with gold-ore deposits is typically fine grained (undersize). At Panorama Ridge, the fine grained and the coarse grained (oversize) gold is not visible. In order to have these bonanza gold grades, a gold-sulphide compound mineral must be related to the high-grade gold values. Goldcliff is researching the mineralogical possibilities to identify the mineral that is attributed to the high-grade gold values.

The Bonanza Trench, located at the south-western portion of the York-Viking zone, is a major gold discovery. The high-grade gold discovery at Panorama Ridge is comparable to the high-grade gold mineralization mined underground at the Nickel Plate Mine. The high-grade gold beds occur within an overall mineralized sequence that is up to 200 metres in thickness. The lower grade gold portions of this sequence were successfully mined by Mascot Gold Mines' open pit operation.

The geological setting at Panorama Ridge is similar to these previously successful settings. Goldcliff has been targeting the bulk-tonnage potential of Panorama Ridge with success. The Bonanza Trench gold results confirm the high-grade potential of the property.

Analyses

The samples are shipped to EcoTech Laboratory Ltd. for sample preparation and analyses. EcoTech Laboratory Ltd. is a certified laboratory with the ISO 9001 certification of Registration# 52172-01. The certified assayer for EcoTech is Jutta Jealouse, BC Certified Assayer.

Qualified Persons

Grant F. Crooker, PGeo (geologist), and Leonard W. Saleken, PGeo (geologist), are the qualified persons as defined by National Instrument 43-101 who supervised the preparation and verification of the technical information in this release.

Information and Presentation

Goldcliff will be presenting a Panorama Ridge overview and update of activities at the Pan Pacific Hotel on Sunday, January 20 at 1:00PM in the Pacific Rim Suite 1.

GOLDCLIFF RESOURCE CORPORATION

Leonard W. Saleken, PGeo, Chairman, CEO, Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this news release, gcnnews2801.

 Contacts: Goldcliff Resource Corporation George Sanders President (250) 764-8879 or 1-866-769-4802 (604) 261-8994 (FAX) Email: sanders@goldcliff.com Website: www.goldcliff.com

SOURCE: Goldcliff Resource Corporation

Source: MARKET WIRE

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