Vancouver, BC – March 15, 2022 – GGL Resources Corp. (TSX-V: GGL) (“GGL” or the “Company”) is pleased to announce the start of the 2022 exploration program at its Gold Point Project in the Walker Lane Trend of Western Nevada.
The Gold Point Project is situated alongside the community of Gold Point, which is accessed by Highway 774. The Gold Point property totals 4,917 acres (19.9 km2) and consists of 257 lode claims and 7 patented claims.
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. Precious metal recovery by cyanidation ranged from 92% to 98% for gold and 53% to 82% for silver.
Positive results from exploration conducted by GGL in late 2020 and 2021 led the Company to expand its claim holdings to cover most of the district scale vein system. These results also identified metal zonation vectors that suggest there is potential in the western part of the property for bulk-tonnage, intrusion related mineralization, or a buried porphyry system.
The first component of the 2022 program is a helicopter-borne magnetic, radiometric and electro-magnetic survey, which is scheduled to be completed this week. This geophysical survey will be flown across the entire property with 60 m line spacing. The survey is designed to: (1) characterize the geophysical signatures of known veins and faults and to identify areas with similar signatures elsewhere on the property; and (2) recognize areas with signatures that are indicative of intrusion-related or porphyry-style mineralization in regions of the property with overburden cover.
Interpretation of the geophysical data is expected to be completed in two to three weeks and will guide follow-up work.
The remainder of the work in phase 1 of the 2022 program is scheduled to begin in early April and will include: (1) structural and lithological mapping across the property; (2) extensive soil geochemical surveys to expand upon favourable results from a small reconnaissance survey that was done in 2020; and (3) reopening of underground workings at the Orleans and Grand Central Mines so that underground surveying, mapping and sampling can be done. This work is expected to be completed in Q2. GGL is particularly eager to access the historical Orleans workings as this was the largest and richest mine in the Gold Point district. These underground workings can now be rehabilitated since a requisite heritage study did not identify any structures with significant historical value.
Assaying of samples and interpretation of data from the phase 1 work will be done during the summer months and will guide the planning of the phase 2 drilling program, which is expected commence in fall.
Both reverse-circulation (RC) drilling from surface and long-hole drilling from the underground workings are anticipated during phase 2 of the program.
Among the targets that are expected to be tested by RC holes are areas that are prospective for intrusion-related or porphyry-style mineralization and areas where there are two or more, closely spaced mesothermal veins or where sub-parallel veins intersect. These types of RC targets could all be prospective for open pit, bulk-tonnage mining.
Long-hole drilling is an effective technique for identifying and delineating mineralization that occurs near underground workings. Targets for long-hole drilling include extensions of ore-shoots that were being mined by historical miners when operations stopped; areas within the underground workings which have grades that were below the very high cut-offs used by historical miners; and areas where parallel veins or mineralized fractures are present in the hanging wall or footwall of the main vein structures. If successful, long-hole drilling, coupled with sampling within drifts and stopes, could rapidly identify resources that are accessible from the established underground workings.
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 optioned and wholly owned claims in the Gold Point district of the prolific Walker Lane Trend, Nevada. The Gold Point claims cover several gold-silver veins, four of which host past producing high-grade mines. The Company also owns 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 near the Gahcho Kué diamond mine in the Northwest Territories.
ON BEHALF OF THE BOARD
“W. Douglas Eaton”
CEO and Director
For further information concerning GGL Resources Corp. or its various exploration projects please visit our website at www.gglresourcescorp.com or contact:
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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.