Featured Company /
Graycliff Exploration Ltd.
There’s plenty of market chatter about what is happening with gold. While differing contentions make sense (revolving around the USD, inflation, Bitcoin, etc.), there are many idiosyncrasies to today’s market that make it difficult to use historical comparisons to try and rationalize where gold prices are today. The reality is that gold falling from a record high last summer near $2,100 per ounce to a recent low of $1,673 is most likely the result of a combination of forces.
Most long traders aren’t getting wrapped up in gold minutiae or predictions. It’s the macros that are the focus. Gold has been the greatest store of wealth for 1000’s of years and that isn’t going to change today or in the foreseeable future. From any significant time frame, gold’s technical chart remains in an uptrend. Furthermore, the days of $500 gold are long gone. That is important to remember because, while price declines obviously cut into margins, gold can be produced profitably anywhere remotely close to the current price.
Getting caught up in daily fluctuations can mean missing a junior explorer that is making progress on its flagship project, like Graycliff Exploration Limited (CSE:GRAY)(OTCQB:GRYCF)(FRA:GE0) is at its Shakespeare Gold Project located on the prolific Canadian Shield near Sudbury, Ontario. Owing to its age and geology, the Canadian Shield is one of the world’s richest regions for minerals, filled with high-grade deposits of gold, silver, nickel and copper. Famous mining camps like Timmins and Red Lake speak to the quality of the Shield. The first modern hard rock gold mine in the Canadian Shield opened in 1866 and the billions-of-years-old rock is thought to still potentially host Canada’s next bonanza discovery.
Toronto-based Graycliff is hoping Shakespeare can one day be mentioned with other great Canadian Shield mines. The history is certainly there. The Shakespeare mine operated from 1903 to 1907 and produced 2,959 oz of gold from six underground areas, when gold was just $19 per ounce. With gold at $1,800 per ounce, it is time to revive operations. Effectively, Graycliff is working in the shadow of a historic headframe deemed to be one of the best places to find new gold.
The Shakespeare Property consists of one crown patented lease, two crown leases, and 40 mineral claims covering 945 hectares in one contiguous block 88 kilometers west of Sudbury. The property’s geology has been identified to date as major northeast trending faults hosting a series of quartz veins and stock works of quartz veins containing sulphides. In layman’s terms, the type of rock composite and layout that can be indicative of significant gold findings in the Canadian Shield.
Furthermore, quartz veins have been identified a considerable distance to the northeast of the former mine site, suggesting a regional structure with the potential for other gold discoveries
Historic exploration work at Shakespeare included trenching, sampling and limited drilling. A new strategy was hatched in 2014, where a small drill program returned intercepts of 3 meters grading 2.0 grams per tonne (g/t) gold (Au), including 1 meter of 4.9 g/t Au, and another cut of 15.3 meters at 15.3 g/t Au, including 1 meter of 48.8 g/t gold.
Once brought under the Graycliff umbrella, the team reviewed the historical reports and initiated an exploration and drilling program in the third quarter of 2020. Data from this Phase 1 drilling is starting to demonstrate what Graycliff has in Shakespeare. The program was focused on extending the previously identified near-surface mineralized area in the vicinity of Miller Shaft above the level of the #3 Adit. Highlights from a 7 hole, ~1,100 meter program included:
• 4.6 m of 5.51 g/t Au at a depth of 76 m, incl. 0.8 m of 23.6 g/t Au and 1.8 m of 3.00 g/t Au
Graycliff CEO and President succinctly summed-up the compelling results from the Phase 1 drilling program in saying, “Having three anomalous gold intersections in Hole 7 is a nice way to cap off a successful phase one of our maiden drilling program.”
The drilling provided several pieces of key information, namely confirming that the mineralization previously identified remains open on strike and at depth while also discovering a new mineralized zone parallel to the historic 2014 zone.
“The intersection of strong gold mineralization again in this early phase of drilling is encouraging and even the mineralization and structure intersected in J-4-20 indicates there is strong deformation and that these gold bearing veins and shears continue at depth.”
- Bruce Durham, Graycliff’s Technical Advisor and Qualified Person
In April, Graycliff completed a Phase 2 drilling program, comprised of 14 core diamond drill holes totaling 2,000 meters focused on expanding the previously identified mineralization and the new mineralized zone located in the vicinity of the Miller Shaft and above the #3 adit (the entrance to the third level of the historic mine).
With the receipt of the assay results from the new drilling, Graycliff will prepare 3D modeling of the interpreted structure and gold mineralization. Going forward, Graycliff intends to re-open the #3 adit to conduct exploration and underground drill to better understand the mineralization at deeper depths.
An anomaly amongst most junior miners, Graycliff is in a strong financial position. Last month, a debt holder converted their debentures five months early, eliminating all Graycliff debt. Subsequently, a non-brokered private placement was completed raising gross proceeds of $2.43 million, enough capital to fully fund all 2021 exploration activity, including a Phase 3 program at Shakespeare.
CSE-listed shares of GRAY were soaring in early April, printing as high as $2.86 on the 12th, before a correction began (likely the convertible shares hitting the market), which brought shares to a low of $0.63, which looks to have formed a new base. That level has been touched twice and held as technical support. It also means the company has a market capitalization of under $13 million, which is arguably low for a funded company with zero debt and several catalysts on the near-term horizon.
The first catalyst should come in the form of the assay results from the latest drilling, which could arrive anytime in the coming weeks.
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As a result of its commitment to journalistic excellence and abundance of information in a particular area of equity investing (micro-cap investing) where there aren’t many credible sources of information, AllPennyStocks.com continues to have one of the largest audiences of micro-cap investors on the internet.
Corporate Snapshot:
Graycliff Exploration Ltd.
Stock Symbol:
CNX
Stock Exchange:
CSE
Sector:
Natural Resources
52 Week High:
$2.8600
52 Week Low:
$0.3000
Alt Exchange/Ticker:
(OTCQB:GRYCF)
Current Stock Quote / Chart / News: Click here
Information as of
May 11, 2021
There’s plenty of market chatter about what is happening with gold. While differing contentions make sense (revolving around the USD, inflation, Bitcoin, etc.), there are many idiosyncrasies to today’s market that make it difficult to use historical comparisons to try and rationalize where gold prices are today. The reality is that gold falling from a record high last summer near $2,100 per ounce to a recent low of $1,673 is most likely the result of a combination of forces.
Most long traders aren’t getting wrapped up in gold minutiae or predictions. It’s the macros that are the focus. Gold has been the greatest store of wealth for 1000’s of years and that isn’t going to change today or in the foreseeable future. From any significant time frame, gold’s technical chart remains in an uptrend. Furthermore, the days of $500 gold are long gone. That is important to remember because, while price declines obviously cut into margins, gold can be produced profitably anywhere remotely close to the current price.
Getting caught up in daily fluctuations can mean missing a junior explorer that is making progress on its flagship project, like Graycliff Exploration Limited (CSE:GRAY)(OTCQB:GRYCF)(FRA:GE0) is at its Shakespeare Gold Project located on the prolific Canadian Shield near Sudbury, Ontario. Owing to its age and geology, the Canadian Shield is one of the world’s richest regions for minerals, filled with high-grade deposits of gold, silver, nickel and copper. Famous mining camps like Timmins and Red Lake speak to the quality of the Shield. The first modern hard rock gold mine in the Canadian Shield opened in 1866 and the billions-of-years-old rock is thought to still potentially host Canada’s next bonanza discovery.
Toronto-based Graycliff is hoping Shakespeare can one day be mentioned with other great Canadian Shield mines. The history is certainly there. The Shakespeare mine operated from 1903 to 1907 and produced 2,959 oz of gold from six underground areas, when gold was just $19 per ounce. With gold at $1,800 per ounce, it is time to revive operations. Effectively, Graycliff is working in the shadow of a historic headframe deemed to be one of the best places to find new gold.
The Shakespeare Property consists of one crown patented lease, two crown leases, and 40 mineral claims covering 945 hectares in one contiguous block 88 kilometers west of Sudbury. The property’s geology has been identified to date as major northeast trending faults hosting a series of quartz veins and stock works of quartz veins containing sulphides. In layman’s terms, the type of rock composite and layout that can be indicative of significant gold findings in the Canadian Shield.
Furthermore, quartz veins have been identified a considerable distance to the northeast of the former mine site, suggesting a regional structure with the potential for other gold discoveries
Historic exploration work at Shakespeare included trenching, sampling and limited drilling. A new strategy was hatched in 2014, where a small drill program returned intercepts of 3 meters grading 2.0 grams per tonne (g/t) gold (Au), including 1 meter of 4.9 g/t Au, and another cut of 15.3 meters at 15.3 g/t Au, including 1 meter of 48.8 g/t gold.
Once brought under the Graycliff umbrella, the team reviewed the historical reports and initiated an exploration and drilling program in the third quarter of 2020. Data from this Phase 1 drilling is starting to demonstrate what Graycliff has in Shakespeare. The program was focused on extending the previously identified near-surface mineralized area in the vicinity of Miller Shaft above the level of the #3 Adit. Highlights from a 7 hole, ~1,100 meter program included:
• 4.6 m of 5.51 g/t Au at a depth of 76 m, incl. 0.8 m of 23.6 g/t Au and 1.8 m of 3.00 g/t Au
Graycliff CEO and President succinctly summed-up the compelling results from the Phase 1 drilling program in saying, “Having three anomalous gold intersections in Hole 7 is a nice way to cap off a successful phase one of our maiden drilling program.”
The drilling provided several pieces of key information, namely confirming that the mineralization previously identified remains open on strike and at depth while also discovering a new mineralized zone parallel to the historic 2014 zone.
“The intersection of strong gold mineralization again in this early phase of drilling is encouraging and even the mineralization and structure intersected in J-4-20 indicates there is strong deformation and that these gold bearing veins and shears continue at depth.”
- Bruce Durham, Graycliff’s Technical Advisor and Qualified Person
In April, Graycliff completed a Phase 2 drilling program, comprised of 14 core diamond drill holes totaling 2,000 meters focused on expanding the previously identified mineralization and the new mineralized zone located in the vicinity of the Miller Shaft and above the #3 adit (the entrance to the third level of the historic mine).
With the receipt of the assay results from the new drilling, Graycliff will prepare 3D modeling of the interpreted structure and gold mineralization. Going forward, Graycliff intends to re-open the #3 adit to conduct exploration and underground drill to better understand the mineralization at deeper depths.
An anomaly amongst most junior miners, Graycliff is in a strong financial position. Last month, a debt holder converted their debentures five months early, eliminating all Graycliff debt. Subsequently, a non-brokered private placement was completed raising gross proceeds of $2.43 million, enough capital to fully fund all 2021 exploration activity, including a Phase 3 program at Shakespeare.
CSE-listed shares of GRAY were soaring in early April, printing as high as $2.86 on the 12th, before a correction began (likely the convertible shares hitting the market), which brought shares to a low of $0.63, which looks to have formed a new base. That level has been touched twice and held as technical support. It also means the company has a market capitalization of under $13 million, which is arguably low for a funded company with zero debt and several catalysts on the near-term horizon.
The first catalyst should come in the form of the assay results from the latest drilling, which could arrive anytime in the coming weeks.
About AllPennyStocks.com:
AllPennyStocks.com Media, Inc., founded in 1999, is one of North America’s largest and most comprehensive small-cap / penny stock financial portals. With Canadian and U.S. focused penny stock features and content, the site offers information for novice investors to expert traders. Outside of the countless free content available to visitors, AllPennyStocks.com Pro (premium service) caters to traders looking for that trading edge by offering monthly stock picks, daily penny stock to watch trade ideas, market commentary and more.
As a result of its commitment to journalistic excellence and abundance of information in a particular area of equity investing (micro-cap investing) where there aren’t many credible sources of information, AllPennyStocks.com continues to have one of the largest audiences of micro-cap investors on the internet.
Forward Looking Statements
This report includes forward-looking statements that reflect current expectations about its future results, performance, prospects and opportunities. Graycliff Exploration Ltd. has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "we are confident" or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause Graycliff Exploration Ltd.'s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company's growth expectations and ongoing funding requirements, and specifically, the Company's growth prospects with scalable customers, and those outlined above. Other risks include the Company's limited operating history, the Company's history of operating losses, consumers' acceptance, the Company's use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company's securities, the possible volatility of the Company's stock price, the concentration of ownership, and the potential fluctuation in the Company's operating results.
Disclaimer
AllPennyStocks.com feature stock reports are intended to be stock ideas, NOT recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this report was extracted from current documents filed with the SEC, the company web site and other publicly available sources deemed reliable. For more information see our disclaimer section, a link of which can be found on our web site. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and are subject to the safe harbor created by these sections. Actual results may differ materially from the Company's expectations and estimates. This is an advertisement for Graycliff Exploration Ltd. The purpose of this advertisement, like any advertising, is to provide coverage and awareness for the company. The information provided in this advertisement is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country.
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