Subscribe
Be the first with the news that moves the market- Graycliff Exploration Limited (GRAY) has acquired the Lunge Project in Ontario
- The newly acquired project, which is located on the prolific Canadian Shield in the Sudbury Basin of Ontario, consists of 27 claim units covering 601 hectares
- This new acquisition has increased Graycliff’s total property package in this mineral-rich area to 3,674 hectares, spanning three projects
- Graycliff Exploration is a mineral exploration company
- Graycliff Exploration Limited (GRAY) opened trading at $0.06per share
Graycliff Exploration Limited (GRAY) has acquired the Lunge Project in Ontario.
The newly acquired project, located on the prolific Canadian Shield in the Sudbury Basin of Ontario, consists of 27 claim units covering 601 hectares.
This new acquisition has increased Graycliff’s total property package in this mineral-rich area to 3,674 hectares, spanning three projects.
The Lunge Project is located 6 km northeast of the Baldwin property boundaries, approximately 70 km west of Sudbury, with good infrastructure and road access.
All three projects are proximal to Magna Mining’s advanced-stage Shakespeare nickel-copper-PGM project, and Lunge sits on the same geological trend as Graycliff’s Shakespeare and Baldwin projects.
Past work on the property completed by Mustang Minerals includes grab sampling and limited drilling. Highlighted drill holes include MH03-01, which returned historic results of 1.14 grams per tonne of gold over one metre with 0.28 per cent combined copper-nickel, and MH03-03, which returned 0.46 per cent Cu-Ni over 1.50 m.
A geophysical survey completed on Lunge by a previous operator reportedly identified a sulphide-rich horizon associated with a 900 m long IP conductor with significant precious and critical minerals values.
Given the limited work completed to date and the presence of nickel and copper-bearing sulphides as well as gold, the target gabbro sill warrants further exploration, including core drilling.
“The Sudbury Basin is an excellent place to carry out exploration, and we are pleased to add another Sudbury-based project to our portfolio, especially given its geological and structural similarities to our existing projects,” said James Macintosh, President & CEO.
Graycliff Exploration is a mineral exploration company focused on its 3,674 hectares of prospective ground, located roughly 80 kilometres west of Sudbury on the prolific Canadian Shield.
Graycliff Exploration Limited (GRAY) opened trading at $0.06 per share.
