Highlights include:
1.20 g/t gold equivalent over 9.1 meters and 0.67 g/t gold equivalent over 36.6 meters and 1.18 g/t gold equivalent over 6.1 meters in hole J-22-001 * 0.57 g/t gold equivalent over 41.2 meters and 1.88 g/t gold equivalent over 6.1 meters in hole J-22-004 * 1.87 g/t gold equivalent over 29.0 meters including
3.73 g/t gold equivalent over 9.2 meters in hole J-22-005
0.94 g/t gold equivalent over 9.2 meters in hole J-22-006
0.56 g/t gold equivalent over 7.7 meters and 1.14 g/t gold equivalent over 3.1 meters in hole J-22-007 * 0.52 g/t gold equivalent over 19.8 meters and 1.31 g/t gold equivalent over 7.6 meters in hole J-22-008
Gold equivalent based on
1. The discovery of a new gold mineralization area extending 200 meters south of our North Jumbo Resource (holes J-22-004 & J-22-005) in a new structural block that was never drilled before.
2. The extension of the North Jumbo Resource in a parallel western mineral block (J-22-001, J-22-006, and J-22-007).
3. The extension of gold mineralization in the southern portion of the North Jumbo Resource as our model predicted (Hole J-22-008).
All these holes have thick sections of gold mineralization and higher-grade intervals than our existing resource.
The 2022 drill program is advancing as we hoped, and our resource models are being confirmed and refined by all these positive drill results:
At South Jumbo, we have identified a significant extension of that system 50 meters to the north with hole E-22-020 returning 0.74 g/t gold equivalent over 26.0 meters (see our press release
At North Jumbo, we drilled into a new structural block extending gold mineralization 200 meters south of the North Jumbo Resource with hole J-22-005 returning 1.87 g/t gold equivalent over 29 meters including 3.73 g/t over 9.2 meters, and with hole J-22-004 returning 0.57 g/t gold equivalent over 41.2 meters and 1.88 g/t over 6.1 meters.
Within the 5 km Jumbo Trend, we are currently constructing new drill pads to follow up these positive results, with the ambition of continuing to extend the gold mineralization from the North Jumbo Resource (1.8 km long) to the south and the South Jumbo Resource (1.3 km long) to the north.'
Assay Method
Assays were performed in
About
Contact:
President and CEO
E: acanton@goldspringsresource.com
Forward Looking Statements
Certain statements contained herein constitute 'forward-looking information' under applicable Canadian securities laws ('forward-looking statements'). Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements herein include statements related to the Company's goal of extending the gold mineralization from the 1.8 km long North Jumbo Resource towards the 1.3 km long South Jumbo Resource and may also include words such as 'creating', 'believe', 'would', 'continue', 'will', 'promising', 'should', and similar expressions. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, risks of the mineral exploration industry which may affect the advancement of the Gold Springs project, including possible variations in mineral resources, grade, recovery rates, metal prices, capital and operating costs, and the application of taxes; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated, changes in project parameters, including water requirements for operations, as plans continue to be refined; regulatory, environmental and other risks of the mining industry more fully described in the Company's Annual Information Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the continuing support for mining by local governments in
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