GGL Ready to Start the 2022 Drill Program at its Gold Point Project, Nevada
Vancouver, BC – September 12, 2022 – GGL Resources Corp. (TSX-V: GGL) (“GGL” or the “Company”) is pleased to announce that it has received an amended exploration permit and is preparing to commence a reverse circulation drill program at its Gold Point Project in the Walker Lane Trend of Western Nevada.
The drill program consists of a fence of six reverse circulation holes, totaling approximately 1,800 m, drilled along a 525 m section line through the core of the Property. Drilling is anticipated to begin in late-September and shall evaluate the high-grade and bulk tonnage potential of multiple, closely spaced veins that are bisected by the section line (see Figure 1). The section line crosses the surface projections of three past-producing veins.
One of the 2022 drill holes will test the Great Western Vein along strike of hole GP-21-012, which intersected 2.22 g/t gold over 12.19 m, including 5.17 g/t gold over 4.57 m (see Company news release date December 8, 2021). Soil geochemical surveys completed in spring 2022 identified linear gold-in-soil anomalies that correspond to the known veins, and several previously undocumented occurrences along the planned drill section.
Highlights from known veins along the section line:
- Lime Point: Past producing vein with a strike length of 770 m, with eight samples grading better than 2 g/t gold, with a peak gold value of 10.7 g/t and peak silver value of 626 g/t.
- Unnamed 1 vein with strike length of 80 m, samples grading 2.22 g/t and 2.69 g/t gold.
- Great Western: Past producing vein with a strike length of 930 m, high grade sampling underground includes 23.0 g/t gold and 76 g/t silver over 1.30 m (see Company news release dated April 6, 2021).
- Unnamed 2 vein with strike length of 330 m with limited sampling
- Unnamed 3 vein with strike length of 530 m, with four samples grading better than 1 g/t gold, and a peak value of 12.8 g/t gold and 144 g/t silver.
- Unnamed 4 vein with strike length of 680 m, with six samples grading better than 1 g/t gold, including 27.4 g/t gold and 25.7 g/t gold.
- Fraction vein with strike length of 320 m, yielding multiple high grade grab samples including 19.8 g/t gold, 11.15 g/t gold, and 1,500 g/t silver.
- Grand Central: Past producing vein with a strike length of 530 m, with high-grade grab samples returning 16.95 g/t gold with 680 g/t silver, and 26.8 g/t gold with 213 g/t silver.
In April 2022, GGL secured a work permit from the BLM that will allow for the rehabilitation of shafts at the Orleans Mine, the largest of four former producers on the Gold Point Property. Initial stabilization of the surface around the collars has been completed. Final rehabilitation of the shafts will be completed once a qualified contractor becomes available.
About Gold Point
The Gold Point Project is accessed by Highway 774 and a local system of roads and trails. 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.
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:
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.