The first results from this year’s exploration are telling Goldcliff Resource Corporation (TSX.V: GCN) that the historical Hedley gold district still has plenty of life left in it.
Canada (Press Release) December 14, 2007 --
The first results from this year’s exploration are telling Goldcliff Resource Corporation (TSX.V: GCN) that the historical Hedley gold district still has plenty of life left in it.
And while ongoing exploration has helped the company expand the potential resource in Hedley, news from the company elsewhere promises further shareholder growth. At it’s Ainsworth silver and molybdenum property BC’s Kootenay region, several new exploration targets have been identified.
And in early December, the announcement that the company had diversified with a uranium project in southeastern BC.
The uranium announcement comes on the heels of a report from Salman Partners’ predicting that uranium prices may reach $200/lb within the next three to five years due to lack of new supply coming on stream.
Salman Partners' Senior Mining Analyst Ray Goldie and Research Associate Patrick Donnelly have predicted that uranium prices could reach $200/lb in the next three to five years due to a lack of new mine supply.
Salman Partners' Senior Mining Analyst Ray Goldie and Research Associate Patrick Donnelly stated that the spot price of uranium will average $102/lb this year, $162.50 in 2008, $186.85 in 2009, and $191.87 in 2010. Goldie predicted that the world's top uranium producer, Canada's Cameco, will realize average prices of $38.69/lb this year, $71.92 in 2008, $88.94 in 2009, and $106.25 in 2010.
The new uranium properties consist of four separate claim blocks – Duhamel Creek, Wilson Creek, Mount McGregor and Willow Point – and have uranium values as high as 430 parts per million – 0.043%. These anomalous uranium values are from 6 to 27 times higher than the average uranium value of 16 ppm uranium in the region.
These uranium values are also higher than those found to date at Goldcliff’s other uranium project in the area, the Big Sheep Creek property, where an airborne geophysical survey was recently completed.
High uranium values were first discovered here by the British Columbia Geological Survey during a regional stream sediment sampling program in the 1970s, which returned a number of anomalous uranium values, including two samples exceeding 300 parts per million or 0.03 % uranium.
Adding value at Panorama Ridge
The surface gold trenching results of the 2007 trenching program at Goldcliff's 100%-owned Panorama Ridge property near Hedley, BC, to date, indicate the two most significantly developed zones – the York-Viking and the Nordic – remain open for expansion.
The trenching program consisted of 29 trenches totaling 1,008 meters of surface sampling, eight of which have so far been reported. Highlights included 19 meters grading 2.15 g/t gold (Au). The gold results expand the mineralization in the northeast towards the Nordic zone.
Full Release: http://www.resourcexinvestor.com/news.php?id=3644
And while ongoing exploration has helped the company expand the potential resource in Hedley, news from the company elsewhere promises further shareholder growth. At it’s Ainsworth silver and molybdenum property BC’s Kootenay region, several new exploration targets have been identified.
And in early December, the announcement that the company had diversified with a uranium project in southeastern BC.
The uranium announcement comes on the heels of a report from Salman Partners’ predicting that uranium prices may reach $200/lb within the next three to five years due to lack of new supply coming on stream.
Salman Partners' Senior Mining Analyst Ray Goldie and Research Associate Patrick Donnelly have predicted that uranium prices could reach $200/lb in the next three to five years due to a lack of new mine supply.
Salman Partners' Senior Mining Analyst Ray Goldie and Research Associate Patrick Donnelly stated that the spot price of uranium will average $102/lb this year, $162.50 in 2008, $186.85 in 2009, and $191.87 in 2010. Goldie predicted that the world's top uranium producer, Canada's Cameco, will realize average prices of $38.69/lb this year, $71.92 in 2008, $88.94 in 2009, and $106.25 in 2010.
The new uranium properties consist of four separate claim blocks – Duhamel Creek, Wilson Creek, Mount McGregor and Willow Point – and have uranium values as high as 430 parts per million – 0.043%. These anomalous uranium values are from 6 to 27 times higher than the average uranium value of 16 ppm uranium in the region.
These uranium values are also higher than those found to date at Goldcliff’s other uranium project in the area, the Big Sheep Creek property, where an airborne geophysical survey was recently completed.
High uranium values were first discovered here by the British Columbia Geological Survey during a regional stream sediment sampling program in the 1970s, which returned a number of anomalous uranium values, including two samples exceeding 300 parts per million or 0.03 % uranium.
Adding value at Panorama Ridge
The surface gold trenching results of the 2007 trenching program at Goldcliff's 100%-owned Panorama Ridge property near Hedley, BC, to date, indicate the two most significantly developed zones – the York-Viking and the Nordic – remain open for expansion.
The trenching program consisted of 29 trenches totaling 1,008 meters of surface sampling, eight of which have so far been reported. Highlights included 19 meters grading 2.15 g/t gold (Au). The gold results expand the mineralization in the northeast towards the Nordic zone.
Full Release: http://www.resourcexinvestor.com/news.php?id=3644
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