VANCOUVER, BC / ACCESSWIRE / March 17, 2022 / GGL Resources Corp. (TSXV:GGL) ("GGL" or the "Company") is pleased to announce it has received a Multi-Year Area Based Permit (MYAB) from the BC Ministry of Energy, Mines & Low Carbon Innovation for exploration activities on its 100% owned, road accessible McConnell copper-gold project in the prolific Golden Horseshoe region of north-central BC.
The MYAB permit is active for a period of four years and includes exploration activities consisting of drilling, trenching, road works, exploration camp establishment, and geophysical surveys. GGL has commenced planning for an exploration program in Q3, which includes mechanized trenching and sampling activities.
The 8,700-hectare 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 underground gold-silver mine, where Benchmark Metals Inc. is currently conducting a significant 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, which services the Kemess Mine.
Previous exploration conducted by the Company confirmed porphyry style mineralization within a potassic-phyllic altered monzonite intrusion. The supergene and hypogene, copper-gold-silver mineralization can be traced in scattered outcrops over 600 m until it is lost beneath overburden. Rock samples collected by the Company in this "copper-gold-silver zone" included peak values of 20.1% Cu, 4.01 g/t Au and 67.1 g/t Ag. These samples were taken from an exposure that was blast-trenched in the 1970s and subsequently chip sampled to yield results of 10.97 % Cu, 0.136 oz/T (4.66 g/t) Au and 2.12 oz/T (72.7 g/t) Ag over 12 ft (3.6 m), as described in an assessment report filed with the BC government.
The Company conducted 12-line km of induced polarization ("IP") and ground magnetic surveying over the copper-gold-silver zone in 2020. This IP survey complements a reconnaissance-style IP survey GGL conducted in 2008, which identified a buried chargeability anomaly near mineralized outcrops. The recent survey better defined the chargeability target, identifying two, parallel, north north-west dipping anomalies that are believed to be structurally-controlled. One of these anomalies projects to surface near a well mineralized outcrop, rock samples from which returned assays up to 13.2% Cu and 1.61 g/t Au. The second anomaly projects to surface in an overburden covered area.
The planned trenches will be designed to test across the full width of the chargeability anomaly associated with the partially exposed, mineralized outcrop and to evaluate the second, blind chargeability anomaly. The results from the trenching will aid in the planning for future drill campaigns.
The McConnell project also contains a major shear-hosted gold zone which occurs at a higher elevation, 3 km east of the porphyry-style mineralization and IP anomalies. This zone can be traced for 12 km and was the main focus of the Company's historical 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 a drill intercept that assayed 15.57 g/t Au over 1 m and a trench exposure that graded 8.16 g/t Au over 4.8 m.
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
"David Kelsch"
David Kelsch
President, COO and Director
Investor Inquiries Richard Drechsler Corporate Communications Tel: (604) 687-2522 NA Toll-Free: (888) 688-2522 | Corporate Information Linda Knight Corporate Secretary Tel: (604) 688-0546 |
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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.