GGL RESOURCES CORP. Two diamond drill holes, totaling approximately 440.5 m, were completed on a section line that crosses projections of two of the past-producing veins (Great Western and Hornsilver) plus other nearby targets that GGL has identified in recent years by prospecting and soil geochemistry.
Drilling was designed to evaluate both high-grade and bulk tonnage potential within an area containing closely spaced veins and gold-in-soil anomalies.
GP-22-016 intersected 5.64 m grading 1.5 g/t gold and 101.5 g/t silver where it crossed the projection of the Hornsilver Vein. This intercept is located 146 m west of the closest underground workings on that vein.
GP-22-017 cut a weakly mineralized interval where it crossed the projection of the Great Western Vein 75 m along strike of hole GP-21-012, which returned 2.22 g/t gold over 12.19 m, including 5.17 g/t gold over 4.57 m .
This 2021 intersection lies 80 m northwest of the limit of the underground workings.
Three additional holes that were planned to test other structures on the section line were postponed to divert funds to a more aggressive underground rehabilitation program at the
This drill program continues to demonstrate the lateral and vertical continuity of vein-fault systems at Gold Point. The known veins all remain open to extension along strike and to depth, and there are numerous other undrilled veins on the property. Detailed prospecting and soil sampling have proven to be highly effective techniques for identifying new targets.
2022 Exploration Program
In addition to diamond drilling, the 2022 exploration program comprised: Underground rehabilitation, mapping, and sampling at the
Work on the former mines focused on the
Access was also established to the
Prospecting has focused on extending the strike length and identifying additional veins. Prospecting at the Grand Central and Fraction veins has extended each of these an additional 130 m.
An additional 145 soil samples were collected along a 7 km contour line in the western portion of the property where limited work has been conducted. These samples have identified several target areas that require additional follow up work.
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 1,020 ft (311 m) downdip.
Analytical Procedure and Qualified Person
Rock and drill core sample preparation and gold analysis was performed by ALS Minerals in
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:
Tel: (604) 687-2522
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 the recently completed drill program, 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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