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GGL Resources Commences Field Work at McConnell Copper - Gold Porphyry Prospect, Central BC and Gold Point Project, Nevada

27.08.2020  |  Accesswire

VANCOUVER, August 27, 2020 - GGL Resources Corp. (TSXV:GGL) ("GGL" or the "Company") has commenced field work at its 100% owned, road accessible McConnell project located in north-central British Columbia. GGL has also commenced field activities at its past-producing Gold Point gold project in the prolific Walker Lane gold-silver trend, southwestern Nevada. In anticipation of the McConnell work program, the Company has increased the size of the claim block by adding a further 1,151 hectares of prospective mineral claims.

McConnell Project, BC

The McConnell property is located in the Golden Horseshoe region of north-central BC, approximately 22 km southeast of the past-producing Kemess open pit copper-gold mine and 70 km from the former Lawyers Mine, where Benchmark Metals Inc. is currently conducting a major drill program to expand resources. The McConnell property is accessible by a road that branches off the all-season Omineca mine and hydro grid power road servicing the Kemess Mine.

Current field activities underway at McConnell include up to 20 line kilometers of induced polarization ("IP") and ground magnetic surveying over a known copper-gold porphyry zone. The IP survey complements a reconnaissance style IP survey conducted in 2008, which identified an untested buried chargeability anomaly proximal to mineralized outcrops. The 2020 survey is designed to better define the known chargeability target, and to expand geophysical coverage to evaluate the potential for other nearby targets under overburden cover. Exploration done by the Company in 2018 reconfirmed the presence of a potassic-phyllic altered monzonite intrusion hosting supergene and hypogene copper-gold-silver mineralization, which can be traced in scattered outcrop occurrences over 600 meters until it is lost beneath overburden. Rock samples returned assays of up to 20.1% Cu, 4010 ppb Au and 67.1 ppm Ag. These samples were taken from an exposure that was blast-trenched in the 1970s and chip sampled to yield results of 10.97 % Cu, 0.136 oz/T Au and 2.12 oz/T Ag over 12 feet, as described in an assessment report filed with the government.

The McConnell project land tenure has been expanded by 1,151 hectares and is now comprised of a total of 8,700 hectares of mineral claims. The newly acquired ground is largely overburden covered and is believed to be prospective, based on structural/alteration targets defined by a recent ASTER/Structural interpretation. To the Company's knowledge, the new claim area has received negligible exploration to date.

The McConnell project also contains a major shear-hosted gold zone which occurs at a higher elevation, 3 km east of the porphyry target. This zone can be traced for 12 km and was the main focus of the Company's exploration efforts, prior to its shift to diamond exploration in the 1990s. The McConnell gold target was acquired in 1981 and a majority of its trenching and drilling was completed in the 1980s. Historical highlights include drill intercepts that assayed up to 15.57 g/t Au over 1 m and trench exposures that graded up to 8.16 g/t Au over 4.8 m.

Gold Point Project, Nevada

The Company has also commenced exploration activities on its Gold Point project located in southwestern Nevada. The Gold Point project is a consolidation of three properties covering an area measuring 5.4 km² with camp-scale mining potential. GGL has options to earn 100% interests in two of the properties and a 75% interest in the third. The Gold Point project is located 26 miles south of Goldfield, and covers several historical mine sites that intermittently produced gold and silver from quartz veins between 1882 and 1962. Since 1962, various operators have sought to reopen the mines and revitalize the district. However, there is no evidence that any systematic exploration has been conducted or significant mining performed.

The initial exploration program comprises horizontal loop electromagnetic ("HLEM") and ground magnetic geophysical surveys. A total of 25 line kilometers of surveying is planned. These surveys are designed to characterize the geophysical responses over the known past-producing gold-silver veins and associated structures, and to extrapolate them on strike to the east where the wash (overburden cover) obscures any evidence of outcrop or subcrop. This significant sized, overburden-covered section of the property shows little to no evidence of historical exploration.

The consolidated Gold Point project hosts a number of high-grade veins typically 1-2 m in width and locally up to 7 m wide. Existing workings are mostly open and dry to approximately 275 m below surface on both the Orleans (1020 ft level) and Western Veins (960 ft level). Records show 35 historical samples collected post-mining across the Orleans Vein, from the 960 ft to 1020 ft levels averaged 0.389 opt (13.3 g/t) gold, including a vein on the 1000 ft level which returned 7.97 opt (273.2 g/t) gold over 0.5 m. Additionally, 21samples from the 600 ft to 1020 ft levels reportedly averaged 0.314 opt (10.77 g/t) gold. Historical production records describe recoveries between 92% to 98% for gold and 53% to 82% for silver, through cyanidation.

Exploration Plans

The Company plans to drill the McConnell IP chargeability target and any additionally identified targets of merit this fall.

Exploration plans at Gold Point include digitization of historical data concerning underground mines and nearby surface workings to produce a comprehensive 3D model, which will aid in underground mapping, sampling and drill testing. A LiDAR survey is also planned to assist in geological interpretation and accurately locate existing surface workings and undocumented disturbances. Upon completion of this work, it is anticipated that underground workings will be rehabilitated where necessary to allow for safe access to conduct underground drilling. Surface drilling to test on-strike continuance and down-dip potential of known veins is also expected to be conducted in the coming program.

Results in this news release relating to the Gold Point property are historical in nature and have not been independently verified by GGL. Technical information in this news release pertaining to the McConnell Project has been reviewed and approved by David Kelsch, P.Geo., President of GGL Resources Corp., while information related to Gold Point has been reviewed by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited. Both individuals are qualified persons 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 holds the McConnell copper-gold porphyry and shear-hosted gold project located 22 kilometers southeast of the Kemess Mine in north-central BC. In addition, the Company has recently acquired the Gold Point project in the prolific Walker Lane District, Nevada which is the consolidation of several past producing high-grade gold-silver mines. GGL also holds key diamond exploration projects in Canada's north in Nunavut as well as the Lac de Gras diamond district in 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. The Company 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

"David Kelsch"

David Kelsch
President, Chief Operating Officer and Director

For further information concerning GGL Resources Corp. or its various exploration projects please visit our website at www.gglresourcescorp.com or contact:

Investor Inquiries

Richard Drechsler
Corporate Communications
Tel: (604) 687-2522, extension 262
NA Toll-Free: (888) 688-2522
r.drechsler@gglresourcescorp.com

Corporate Information

Linda Knight
Corporate Secretary
Tel: (604) 688-0546
info@gglresourcescorp.com

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.

SOURCE: GGL Resources Corp.



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https://www.accesswire.com/603622/GGL-Resources-Commences-Field-Work-at-McConnell-Copper--Gold-Porphyry-Prospect-Central-BC-and-Gold-Point-Project-Nevada


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