- Follow-up diamond drilling along the Aida shear corridor on the Paubäcken Project completed in
November 2022 consisted of six new diamond drill holes for a total of 882 metres. - Drilling intersected Au mineralization over 250 metres and confirmed structural corridor over 650 metres.
- All samples have been analysed at
MSA Laboratories and all assay data received.
The Company is excited to report that its 2022 winter drilling program has been completed and all results received. The program consisted of 882 metres in 6 diamond drill holes drilled with one drill rig.
The program tested 650 metres of the >5 km Aida structural corridor identified using airborne magnetic geophysics with wide spaced step outs. 2022 drilling stepped down dip and along strike of mineralization encountered in the 2021 discovery hole (22.5 m @ 2.4 g/t Au in PAU-21-003. See
Mineralization is hosted within a sheared and altered mafic volcanic unit located within the structural corridor. Hanging wall and footwall units consist of black shale and greywacke metasedimentary units. Mineralization within the volcanic unit has been encountered over 250 metres along strike and remains open to depth and along strike in both directions. Intercepts encountered include 14.55 m @ 2.44 g/t Au in 2022-AID-001, 9.75 m @ 0.78 g/t Au in 2022-AID-002, 3.35 m @ 1.61 g/t Au and 4.7 m @ 2.12 g/t Au in 2022-AID-003, and 7.2 m @ 1.35 g/t Au in 2022-AID-006.
Drill hole locations are shown in Figure 1 and a section through PAU-21-003 and 2022-AID-001 is shown in Figure 2.
Drill hole 2022-AID-005 was drilled a further 460 metres along strike to the northwest and encountered 1 m @ 1.04 g/t Au within an alteration envelope of 18 m @ 0.29 g/t Au. No significant intercepts were encountered in 2022-AID-004 although it did intersect the Aida structural corridor. Mineralization in this area is hosted within a sheared and altered greywacke metasedimentary unit.
Initially planned for 1500 metres testing 800 metres of structural corridor, the program was cut short due to delays caused by winter weather conditions and expiry of seasonal permit agreements with local indigenous Sami groups to make way for seasonal migration of reindeer herds.
The Aida target is a five kilometre long second order splay structure off the regional first order Gold Line first order structural corridor. Gold mineralization was first identified at the Aida target in
Follow up work planned for 2023 on the Aida target will consist of top of bedrock drilling and diamond drilling. There remains >4 kilometres of identified and untested strike length of the Aida structural corridor which is 100% under >15 metres of glacial till cover. 2023 top of bedrock drilling will systematically test the remaining extent of the structural corridor and diamond drilling continuing to step out on known mineralization and test other identified anomalous zones.
Table 1: 2022 winter drill hole coordinates
Target | Hole ID | Easting | Northing | Elevation | Depth | Dip | Azimuth |
Aida | 2022-AID-001 | 7191161.20 | 629068.47 | 427.52 | 172.85 | -50 | 240 |
Aida | 2022-AID-002 | 7191208.50 | 628974.95 | 425.72 | 75.15 | -50 | 240 |
Aida | 2022-AID-003 | 7191295.46 | 628931.81 | 429.86 | 109.65 | -50 | 240 |
Aida | 2022-AID-004 | 7191598.93 | 628786.20 | 460.62 | 178.40 | -50 | 240 |
Aida | 2022-AID-005 | 7191647.43 | 628631.82 | 448.73 | 109.10 | -50 | 240 |
Aida | 2022-AID-006 | 7191217.12 | 629011.84 | 428.15 | 176.40 | -50 | 240 |
Gold
The Paubäcken Project consists of 3 licenses covering 17,097 hectares that cover the central part of an emerging district in north central
The Paubäcken Project is strategically positioned between Barsele and Fäboliden, and 5 kilometres northeast of the Svartliden mine, within the Gold
All drill core samples were collected under the supervision of Gold Line employees. Drill core was transported from the drill rig to the on-site logging facility where it was logged and photographed, and standard and blank material inserted. Core was transported by Gold Line employees to MSALABS in Storuman,
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by
Gold Line currently holds a prospective portfolio of gold exploration projects in
ON BEHALF OF THE BOARD OF DIRECTORS OF GOLD LINE RESOURCES,
CEO & Director
Website: https://www.goldlineresources.com/
Facebook: https://www.facebook.com/Gold-Line-Resources
Instagram: https://www.instagram.com/gold_line_resources/
LinkedIn: https://www.linkedin.com/company/gold-line-resources-ltd
Neither the
Certain statements contained in this news release constitute "forward-looking statements". When used in this document, the words "anticipated", "expect", "estimated", "forecast", "planned", and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. Gold Line does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.
This news release contains statements that constitute "forward-looking statements." Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Gold Line's actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this news release include statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: that exploration and development activities will not be completed as planned; that the results of exploration and development activities will not be as anticipated. Gold Line may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect Gold Line's business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of Gold Line's securities, regardless of its operating performance; and the impact of COVID-19. The forward-looking statements contained in this news release represent the expectations of Gold Line as of the date of this news release and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Gold Line undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE
© Canada Newswire, source