The 2022 exploration program was completed in early December and comprised: Two diamond drill holes testing along strike of the Great Western and Hornsilver veins; Underground rehabilitation, mapping, and sampling at the
Underground Rehabilitation and Sampling
Work on the former mines focused on the
Towards the end of mining operations in the 1960s, significant infrastructure was developed around the eastern mineralized shoots; however, it appears that operations ceased before any significant mining was conducted on these shoots.
During the 2022 program, initial sampling and mapping was done in the western portions of the 150', 300', 400', 600', and 800' levels of the
Access was also established to the
Results from the underground sampling at both mines will be released once assays are received and reviewed.
Two diamond drill holes, totaling approximately 440.5 m, were completed on a section line that extends through two of the past-producing veins (Great Western and Hornsilver) and other nearby targets that GGL has identified in recent years by prospecting and soil geochemistry.
Drilling evaluated both high-grade and bulk tonnage potential related to multiple, closely spaced veins that are bisected by the section line. The section line also crosses linear gold-in-soil anomalies that are attributed to veins and a broad zone of elevated soil values that has not been explained by surface exploration.
One of the 2022 drill holes tested 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
About the
The Orleans Vein was discovered in 1908 and mined intermittently until 1962. Historical records indicate that approximately 74,000 ounces were produced from the
It is estimate that there is almost 4,200 m of horizontal development in the
Historical records indicate that the mines at Gold Point 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 1020 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.
About Gold Point
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.
About
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,
Contact:
Investor
Corporate Communications
Tel: (604) 687-2522
Toll-Free: (888) 688-2522
E: rdrechsler@strategicmetalsltd.com
Corporate Information
Corporate Secretary
Tel: (604) 688-0546
E: info@gglresourcescorp.com
Neither the
Information contained in this news release contains forward-looking statements. These statements reflect management's current estimates, 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 'evaluate', 'potential', 'likely', 'possible', 'cut-off grades', 'mineralized shoots', 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 the control of GGL. Such factors include, among other things: risks and uncertainties relating to exploration and development and the results thereof, including the results of the recently completed drill program, the impact on future mineral resource estimates, the potential for new discoveries, and the results of future metallurgical programs, as well as the ability of GGL to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in GGL's financial statements available under the GGL 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 legislation, GGL undertakes no obligation to publicly update or revise forward-looking information.
(C) 2023 Electronic News Publishing, source