Graycliff Exploration (CSE:GRAY) has entered into an asset purchase agreement with King Gold Mines to acquire 13 mineral claims adjacent to its Shakespeare Gold Project in Ontario, Canada’s Sudbury mining district.
The company will acquire a 100% interest in the claims located in Shakespeare township for C$10,000 ($10,187.21) cash and 300,000 shares.
The acquisition follows Graycliff’s announcement on 2 June of ‘high-grade’ gold results from its initial metallurgical test hole, including 3,030 grams per tonne gold over 1.0m within a broader interval of 454.34g/t gold over 7.0m.
The new claims sit within the same geological corridor as Shakespeare and will allow Graycliff to expand its search area for mineralised extensions and parallel structures.
“Our recent assay results announced 2 June 2026, have provided new insights into the potential of Shakespeare,” Chairman James Macintosh says.
“They help explain the significant historical exploration activity in this area over the past century.”
The Shakespeare Gold Project spans 1,025ha located roughly 80km west of Sudbury on the Canadian Shield. The property includes the historic Shakespeare gold mine, which operated from 1903 to 1907.
Graycliff has completed over 12,500m of drilling to date, with visible gold mineralisation and significant gold intervals reported in numerous drill holes.
The acquisition remains subject to customary closing conditions, including acceptance by the Canadian Securities Exchange.
Write to JC Villarba at Mining.com.au
Images: Graycliff Exploration
