GGL Completes Underground Exploration and Surface Drilling at its Gold Point Project, Nevada

VANCOUVER, BC / ACCESSWIRE / January 5, 2023 / GGL Resources Corp. (TSXV:GGL) (“GGL” or the “Company”) is pleased to announce that it has completed an underground exploration and surface drilling program on its accessible Gold Point Project on the Walker Lane Trend of Western Nevada.

The 2022 exploration program was completed in early December and included:

Two diamond drill holes being tested along the strike of the Great Western and Horn veins;

Underground rehabilitation, mapping and sampling at the Orleans Mine; and,

Underground sampling at the Grand Central Mine.

Underground rehabilitation and sampling

Work at the former mines was concentrated at the Orleans Mine, the largest of the four former producers on the Gold Point Property. Rehabilitation of the Orleans and Dunfee collars allowed safe access to those mine shafts. Once underground, crews discovered that the development at the Orleans Mine was more extensive than the maps in the Company’s archives indicated. The undocumented workings included a series of lifts and risers that provided safe access to all but the two lowest levels of the mine.

By the end of mining operations in the 1960s, a significant infrastructure developed around the mineralized eastern shoots; however, operations appear to have ceased before any significant mining was done in these shoots.

During the 2022 program, initial sampling and mapping was conducted in the western portions of the 150′, 300′, 400′, 600′ and 800′ levels of the Orleans Mine. Access to the 960′ and 1020′ levels is open, but additional ground support and rehabilitation is required before crews can safely enter those works. There is good air circulation throughout the mine, suggesting that blockages occurring locally in shafts and slips are relatively limited in size and extent.

Access was also established at the Great Central Mine allowing crews to complete mapping and sampling at that mine.

Results from underground sampling at both mines will be published after the analyzes are taken and reviewed.

The story continues

Diamond drilling

Two diamond drill holes, with a total length of approximately 440.5 m, were completed on a section line that extends through two past producing veins (Great Western and Hornsilver) and other nearby targets that GGL has identified in recent years from exploration and soil geochemistry.

Drilling assessed both high-grade and mass tonnage potential associated with multiple, closely spaced veins that have been bisected by the section line. The section line also traverses linear ground gold anomalies attributed to veins and a large area of ​​high ground values ​​not explained by surface exploration.

One of the 2022 drill holes tested the Great West 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). This intersection lies 80m north-west of the boundary of the underground workings and the section line crosses the projection of the structure 75m further north-west.

About the Orleans mine

The Orleans vein was discovered in 1908 and mined intermittently until 1962. Historical records indicate that approximately 74,000 ounces were produced by the Orleans and Great Western Mines, with recoveries of 92% to 98% for gold via cyanidation. Most of this production was from the Orleans mine.

It is estimated that there is almost 4,200m of horizontal development at the Orleans Mine, accessed via the Dunfee central shaft. The workings are primarily open pit and are dry at approximately 275 m vertically below surface at the Orleans vein (1020 ft level).

Historical records indicate that the mines at Gold Point had high cut rates (about 10 g/t gold), suggesting that well-mineralized areas are likely to remain in unmined portions of the developed workings. This assumption is further supported by a report describing 35 historic post-mining samples collected across the Orleans vein from levels 960 ft to 1020 ft, which averaged 0.389 opt (13.3 g/t) gold, including one vein at level 1020 ft. 7.97 opt (273.2 g/t) gold was returned over 0.5m. Additionally, 21 samples from levels 600 ft to 1020 ft were reported to have averaged 0.314 opt (10.77 g/t) gold.

About Gold Point

The Gold Point Project is located alongside the Gold Point community, which is accessed by Highway 774. The Gold Point property totals 4,917 acres (19.9 km2) and consists of 257 unclaimed claims and 7 patented claims.

The property covers underground mines of past production that explored along portions of four prominent vein structures. These major 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 at the end of the workings, which reached a maximum depth of 1,020 ft (311 m) down.

GGL Resources Corp., Wednesday, January 4, 2023, press release photo

The 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 an experienced, Canadian-based young exploration company focused on the exploration and advancement of underappreciated mineral assets in politically stable and mining-friendly jurisdictions. The Company has selected and wholly owned claims in the Gold Point District of the Walker Lane Trend, Nevada. The Gold Point claims cover several gold-silver veins, four of which host past producing 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 two of Canada’s first 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”
Doug Eaton
CEO and director

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

Investor requirements
Richard Drechsler
Corporate Communications
Tel: (604) 687-2522
Toll Free: (888) 688-2522
[email protected]

Corporate Information
Linda Knight
Corporate Secretary
Tel: (604) 688-0546
[email protected]

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in TSX Venture Exchange policies) accepts responsibility for the adequacy or accuracy of this publication.

The information contained in this news release contains forward-looking statements. These statements reflect management’s current assessments, beliefs, intentions and expectations; they are not guarantees of future performance. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “estimate,” “potential,” “likely,” “probable,” “cut grades,” “mineralized grains,” and similar expressions, or that events or conditions “may”, “could” or “will” occur. GGL cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond GGL’s control. Such factors include, among others: risks and uncertainties related to exploration and development and their results, including the results of the recently completed drilling program, the impact on future mineral resource estimates, the potential for new discoveries and future results. metallurgical programs, as well as GGL’s ability to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in commodity prices, operating risks and hazards, competition and other risks and uncertainties, including those described in the financial documents of GGL’s statements available under GGL’s profile at www.sedar.com. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities laws, GGL undertakes no obligation to publicly update or revise remote information.

SOURCE: GGL Resources Corp.

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