Goldcliff Acquires Large Platinum-Gold Land Position
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VANCOUVER, BRITISH COLUMBIA, Apr 17 (MARKET WIRE) --
George W. Sanders, President of Goldcliff Resource Corporation (TSX
VENTURE: GCN), is pleased to report that Company has acquired a large
platinum-gold land position in the Princeton mining region in
south-central British Columbia. The Tulameen claims are 100%-owned by the
Company and consist of one contiguous block that totals 45,245 hectares
(111,755 acres). Located in the historical Princeton mining region, the
Goldcliff claim area is situated between the Tulameen platinum district
and the Copper Mountain district. The Tulameen platinum district was an
important historic producer of placer platinum (20,000 ounces) and the
Copper Mountain district was a significant producer of copper and gold
(168 million tonnes).
The Goldcliff claims cover several of the historic placer producing
platinum-gold creeks, copper-gold showings and outcrops of intrusive and
country rocks that are favourable for mineral deposits in the Princeton
mining region. The Tulameen platinum district, which contains several
lode platinum occurrences (Minfile), has a reported historic placer
platinum production of 20,000 ounces platinum. The potential economic
platinum values associated with the lode occurrences range from 2.5 to
16.0 grams platinum per tonne. The Copper Mountain district has a
historic production of 168 million tonnes of ore with an average grade of
0.46% copper and 0.14 grams per tonne gold.
The modern data base has enhanced the exploration potential of
Goldcliff's claims in the Princeton mining region with respect to
platinum, gold and copper. Readily accessed by road, the Goldcliff claims
are ideally positioned for exploration in the Princeton mining region.
Tulameen Platinum District
From 1889 to 1936, the Tulameen platinum district was recognized as the
most important producer of placer platinum and gold in North America.
Several of the creeks in the Princeton mining region had 20,000 ounces of
reported platinum production. The Goldcliff claims cover the majority of
the creeks that produced placer platinum and gold.
Referred to as the Tulameen Complex, the lode platinum occurrences in the
Tulameen platinum district are associated with ultramafic-mafic intrusive
rocks. The Tulameen Complex contains several lode platinum occurrences
that have platinum values ranging from 2.5 to 16.0 grams platinum per
tonne. The placer platinum deposits in the creeks are the result of the
de-gradation and erosion of the lode platinum occurrences in the Tulameen
Complex.
Tulameen Claims Regional Geology
The Tulameen claims cover an area of 45,000 hectares of geology that is
favourable for the exploration of platinum, palladium, gold and copper
deposits. The claims have extensive overburden. The Tulameen platinum
district is located to the northwest and the Copper Mountain copper-gold
porphyry-deposits are located to the southeast of the claim block. In the
Tulameen platinum district, the Tulameen Complex containing the lode
platinum occurrences is partially exposed. There are similar Tulameen
Complex rocks that occur on Goldcliff's claims.
The Tulameen Complex of ultramafic-mafic intrusive rocks is classified as
an Uralian-Alaskan-type complex. The Uralian-Alaskan complexes are a
major contributor of platinum group metals (PGM) in the world (Google).
In the Tulameen district, the platinum metal is a mineral alloy that was
identified in 1974 as tulameenite (BC Geology). Tulameenite occurs in
other Uralian-Alaskan complexes in the world that are associated with
platinum production. Tulameenite is a ferronickelplatinum alloy with a
mineralogical composition of Pt-Fe-Cu-(Ni).
World Platinum Producers
Globally, the Uralian-Alaskan complexes are a significant source of
platinum group metals (PGM). In Alaska, the Goodnews Bay Complex had
647,500 ounces of platinum recovered from its placers. The Salt Chuck
lode mine produced 661,771 ounces of platinum and palladium as a
by-product of copper ore from the Salt Chuck Complex.
In Russia, the Ural region is a significant placer and lode producer of
PGM from a Uralian-Alaskan complex. The placer deposits were discovered
in the Ural Mountains in 1823 and have been producing PGM continuously up
to the present. The historic PGM production from placer and lode deposits
is not well documented but is considered significant. In the late 1980s,
lode deposits reached peak platinum production of around 4.0 million
ounces of palladium and 1.0 million ounces of platinum. In 2005, the lode
deposits reported production of 751,000 ounces of platinum and 3,133
million ounces of palladium in the Ural region (Google).
The other important producers of PGM in the world are in South Africa
(Bushveld Complex) and in the USA (Stillwater Complex). The South Africa
grades of PGM metal are typically between 3 and 6 grams per tonne. The
USA grades of PGM metal are typically between 10 and 20 grams per tonne
(Google).
In the Princeton mining region, the Tulameen placer-platinum deposits
have produced a reported 20,000 ounces of platinum. The lode platinum
occurrences in the Tulameen platinum district range in values from 2.5 to
16.0 grams platinum per tonne.
Conclusions
The Goldcliff claims are located in the Princeton mining region which has
favourable geology for multiple mineral deposits discoveries of platinum,
gold and copper.
The Goldcliff claims in the Princeton mining region are 100%-owned and
are readily accessed by road.
The Tulameen Project claim acquisition is consistent with Goldcliff's
management policy to acquire high quality exploration projects.
The Tulameen project area map, which includes the claims, is posted on
Goldcliff's website www.goldcliff.com.
Leonard W. Saleken, PGeo (geologist) is the qualified person as defined
by National Instrument 43-101 who supervised the preparation and
verification of the technical information in this release.
GOLDCLIFF RESOURCE CORPORATION
George W. Sanders, President
TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or the accuracy of this news
release, gcnnews2804.
Contacts:
Goldcliff Resource Corporation
George W. Sanders
President
(250) 764-8879 or Toll Free: 1-866-769-4802
(604) 261-8994 (FAX)
Email: sanders@goldcliff.com. or info@goldcliff.com
Website: www.goldcliff.com
Copyright 2008, Market Wire, All rights reserved.
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