Graycliff Exploration Limited (GRAY) has released additional drill assay results from its metallurgical testing program at the Shakespeare gold project in Ontario. The latest data, derived from metallurgical holes B and C, demonstrate persistent high-grade gold mineralization. Notably, drill hole B returned a 7.3-metre interval grading 10.5 g/t gold, which included two separate one-metre intersections of 43.50 g/t and 45.90 g/t gold.

These metallurgical holes were drilled using large-diameter HQ core equipment. The objective was to secure sufficient material for mineralogical and extraction analysis, providing the company with critical data to evaluate the feasibility of future bulk sampling operations. A third hole, C, targeted shallower, lower-grade mineralization and returned 1.76 g/t gold over a 2.0-metre interval.

The company is currently synthesizing these new analytical findings with its existing database. This broader effort involves re-evaluating historical drilling and field data to refine the geological model for the project.

"The results from Holes A, B & C along with surface sampling confirm the presence of significant gold mineralization in the area of the historic shaft, extending to a depth of more than 100 metres in this recent work, and up to 250 metres in previous work by the Company. The 7 m extremely high-grade intersection in Hole A is more than 35 m from the 7.3 m high-grade intersection in Hole B and is well below the historic workings. We look forward to completing our previously announced LIFE financing and re-activating exploration at our Shakespeare Gold Project" — Bruce Durham, Director and QP of the Company

The company plans to use the proceeds from its current LIFE financing to support these upcoming exploration activities, focusing on expanding the known mineralization and testing new targets across the property.

Read the full announcement: Graycliff Reports Additional Drill Results Including 7.3 Metres of 10.51 g/t Gold at Shakespeare Gold Project, Ontario