The previously announced reverse circulation drilling program (see Company news release date
Drilling will evaluate both high-grade and bulk tonnage potential related to multiple, closely spaced veins that are bisected by the section line (see Figure 1). The section line will also cross linear gold-in-soil anomalies that are attributed to veins, and a broad zone of elevated soil values that has not been explained by surface exploration.
One of the 2022 drill holes will test the Great Western Vein along strike of hole GP-21-012, which intersected 2.22 g/t gold over 12.19 m, including 5.17 g/t gold over 4.57 m (see Company news release date
Underground Rehabilitation
The Company has engaged an underground mining contractor to complete the rehabilitation of shafts at the
About the
The Orleans Vein was discovered in 1908 and mined intermittently until 1962. Historical records indicate that approximately 74,000 ounces were produced from the
It is estimated that there is almost 4,200 m of horizontal development in the
Historical records indicate that the mines at Gold Point had high cut-off grades (about 10 g/t gold), suggesting that well mineralized areas likely remain in un-mined portions of the developed workings. This assumption is further supported by a report that describes 35 historical samples collected post-mining across the Orleans Vein from the 960 ft to 1020 ft levels, which averaged 0.389 opt (13.3 g/t) gold including a vein on the 1020 ft level that returned 7.97 opt (273.2 g/t) gold over 0.5 m. Additionally, 21 samples from the 600 ft to 1020 ft levels reportedly averaged 0.314 opt (10.77 g/t) gold.
About Gold Point
The property covers past-producing underground mines that explored along parts of four prominent vein structures. These main structures are paralleled by several other lightly explored structures. The mines operated intermittently from the 1880s to the early 1960s, producing gold and silver from mesothermal veins. The mineralization is strongly oxidized to the bottom of the workings, which reached a maximum depth of 1020 ft (311 m) downdip.
Technical information in this news release has been reviewed and approved by
About
GGL is a seasoned, Canadian-based junior exploration company, focused on the exploration and advancement of under evaluated mineral assets in politically stable, mining friendly jurisdictions. The Company has optioned and wholly owned claims in the Gold Point district of the prolific Walker Lane Trend,
Contact:
Investor
Corporate Communications
Tel: (604) 687-2522
Toll-Free: (888) 688-2522
E: rdrechsler@strategicmetalsltd.com
Corporate Information
Corporate Secretary
Tel: (604) 688-0546
E: info@gglresourcescorp.com
Neither the
Information contained in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'evaluate', 'potential', 'likely', 'possible', 'cut-off grades' and similar expressions, or that events or conditions 'may', 'could' or 'will' occur. GGL cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the control of GGL. Such factors include, among other things: risks and uncertainties relating to exploration and development and the results thereof, including the results of drill programs, the impact on future mineral resource estimates, the potential for new discoveries, and the results of future metallurgical programs, as well as the ability of GGL to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in GGL's financial statements available under the GGL profile at www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, GGL undertakes no obligation to publicly update or revise forward-looking information.
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