Insiders may participate in the private placement and finders' fees or brokers' commissions may be paid in accordance with
All securities issued as part of the Offering will be subject to a hold period in
Exploration update
GGL is pleased to announce that it has commenced an
The IP survey will be centered over abundant stockwork veining and silica alteration identified by recent mapping at Le Champ. This alteration is believed to mark the upper levels of a buried porphyry system. The strongly elevated molybdenum values and more subdued, but still noteworthy, copper results are consistent with a leached system, and suggest that stronger mineralization could be found at depth. It is anticipated that the IP survey could delineate this sulphide mineralization.
Geological mapping at Le Champ identified six separate intrusive phases within the
Large magmatic breccias containing limonite altered cubes and clots, often up to 2 cm across, were identified on the north side of the target area near historical workings containing copper mineralization. A float sample comprising limonite clots collected from the breccia returned 6.29% copper and 203 g/t silver. The exact timing of the brecciation is not yet known, but is thought to be a late event as it includes clasts of mafic dykes which are seen elsewhere on surface cutting the other intrusive phases.
Surface Sampling
Field crews will also complete systematic surveying and sampling of veins on newly acquired claims, located about 700 m along strike to the west of the main underground workings on the Orleans Vein. There are numerous historical surface and underground workings on the new claims. These workings have not yet been mapped or sampled by the Company, but mineralization closely resembles that found in high-grade veins system elsewhere on the Gold Point property.
Setting of Le Champ
Le Champ is located about 3.5 km west of the gold-rich veins that have been the focus of historical exploration at Gold Point. The porphyry lies within the Late to
The Ann Mason deposit is owned by
About Gold Point
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
Email: rdrechsler@strategicmetalsltd.com
Tel: (604) 688-0546
Email: info@gglresourcescorp.com
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (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' 'noteworthy', 'consistent', 'suggest', 'delineate', 'closely resembles' 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.sedarplus.ca. 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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