GGL Resources Corp. Announces Initial Sampling Results from Gold Point, Nevada
Vancouver, BC – January 6, 2021 – GGL Resources Corp. (TSX-V: GGL) (“GGL” or the “Company“) is pleased to announce the results of reconnaissance-scale prospecting and surface sampling conducted in late October at its past-producing Gold Point mesothermal gold/silver project, located in the Walker Lane Trend, southwestern Nevada. The Company also reports that its initial program of underground sampling has recently been completed at the Great Western Mine, one of the two main former producers on the Gold Point property.
The surface work was designed to confirm the location of historical workings and tailings storage areas, characterize historically documented vein exposures, prospect for undocumented veins and assess the accessibility of historical underground workings for future work program planning.
Highlights from surface sampling include:
- 64.6 g/t gold and 110 g/t silver from the ore bin at the Orleans Mine;
- 51.6 g/t gold and 230 g/t silver float sample collected from a structure parallel to the nearby Great Western Vein;
- 30.3 g/t gold and 27.4 g/t gold grab samples taken from previously undocumented veins located 30 m apart; and
- 25.1 g/t gold collected from a waste pile adjacent to a shaft targeting an undocumented vein.
“We are extremely excited about the results from our reconnaissance-scale exploration at the Gold Point property,” stated David Kelsch, President of GGL. “The results not only confirm the presence of significant mineralization at the known past-producing mines, but also demonstrate excellent potential elsewhere on the property in areas that have seen little historical work. We look forward to the results from our initial underground sampling campaign.”
The following table lists samples grading greater than 3 g/t gold that were collected across the property as shown on the attached figure.
|Sample||Type||Width||Gold (g/t)||Silver (g/t)|
During the surface exploration program, samples were collected from historical tailings storage facilities to determine if potentially economical gold and silver remain. Records indicate the tailings storage facilities were established in the 1930s or earlier. They cover an area of approximately 23,000 m2 and range from 0.4 m to 2.0 m in thickness.
Twenty-five representative samples were collected from the main tailings storage area and, another six samples collected from a smaller secondary area, believed to be older. Samples collected from the main tailings storage area returned 0.286 g/t gold to 3.62 g/t gold (averaging 1.04 g/t gold), while the samples collected from the secondary storage area ranged from 1.645 g/t gold to 27.4 g/t gold (averaging 2.62 g/t gold excluding the highest grade sample).
Detailed surveying, sampling, and testing are planned to accurately determine the volume and grade of the tailings, as well as recoverability of gold and silver.
Access to the underground workings at the Great Western Mine was re-established in December 2020. Field crews have now completed sampling of the 100 through 500 levels of the mine with the collection of 169 chip samples. Results will be released upon completion.
Planning and permitting are underway for the next exploration program, expected to commence in Q1 of this year. This program is fully funded and will include reverse-circulation drilling, excavator trenching, rehabilitation work, and sampling at the Orleans Mine, the other main, former producer on the property. The initial drilling will test near to and along strike of known mineralization at the Great Western Mine. Later drill programs will be designed to test targets elsewhere on this under-explored project as additional results become available and comprehensive geological models are developed.
About Gold Point
The Gold Point project is accessible via highway 774 and serviced by electricity. It hosts a camp-scale precious metal system that consists of numerous gold and silver rich quartz veins. These high-grade veins are typically 1 to 2 m in width and locally up to 7 m wide. Two veins (Orleans and Great Western) were intermittently mined from the 1880s through to the early 1960s. Existing underground workings are mostly open and are dry to approximately 275 m below surface on the Orleans Vein (1020 ft level) and 240 m on the Great Western Vein, (960 ft level). Historical records indicate that the mines 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 1000 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. Historical records indicate that approximately 74,000 ounces were produced from the Orleans and Great Western Mines, with recoveries of 92% to 98% for gold through cyanidation.
All analyses were performed by ALS Minerals in Reno, Nevada. All samples were routinely analyzed for gold by a 50 g fire assay followed by atomic absorption (Au-AA24 or Au-AA26) and 48 elements by inductively coupled plasma-mass spectrometry (ME-MS61).
Technical information in this news release has been reviewed and approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and a qualified person for the purposes of National Instrument 43-101.
About GGL Resources Corp.
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 recently acquired an option on the Gold Point project in the prolific Walker Lane Trend, Nevada, which consolidated several gold-silver veins, two of which were past producing high-grade mines. The Company also holds the McConnell gold-copper project located 22 kilometers southeast of the Kemess Mine in north-central BC, and promising diamond exploration projects in Nunavut and the Lac de Gras diamond district of the Northwest Territories. Lac de Gras is home to Canada’s first two diamond mines, the world class Diavik and Ekati mines discovered in the 1990s. GGL also holds diamond royalties on mineral leases in close proximity to the Gahcho Kué diamond mine in the Northwest Territories.
ON BEHALF OF THE BOARD
President, COO and Director
For further information concerning GGL Resources Corp. or its various exploration projects please visit our website at www.gglresourcescorp.com or contact:
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
Tel: (604) 688-0546
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.