GGL Completes Underground Exploration and Surface Drilling at its Gold Point Project, Nevada
GGL Completes Underground Exploration and Surface Drilling at its Gold Point Project, Nevada
Vancouver, BC – January 5, 2023 – GGL Resources Corp. (TSX-V: GGL) (“GGL” or the “Company”) is
pleased to announce that it has completed an underground exploration and surface drilling program at its
road-accessible Gold Point Project in the Walker Lane Trend of Western Nevada.
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 Orleans Mine; and,
• Underground sampling at the Grand Central Mine.
Underground Rehabilitation and Sampling
Work on the former mines focused on the Orleans Mine, the largest of four former producers on the Gold
Point Property. Rehabilitation of the Orleans and Dunfee collars allowed for safe access to th ose mine
shafts. Once underground, crews discovered the development at the Orleans Mine was more extensive than
was indicated on maps in the Company’s archives. The undocumented workings included a series of raises
and winzes that provided safe access to all but the lowest two levels of the mine.
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 Orleans Mine. Access to the 960’ and 1020’ levels is open, but additional
ground support and rehabilitation is required before crew can safely enter those workings . There is good
air circulation throughout the mine, suggesting that blockages that occur locally in sha fts and drifts are
relatively limited in size and extent.
Access was also established to the Grand Central Mine allowing crews to complete mapping and sampling
in that mine.
Results from the underground sampling at both mines will be released once assays are received and
reviewed.
Diamond Drilling
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.
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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 December
8, 2021). This intersection lies 80 m northwest of the limit of the undergroun d workings and the section
line crosses the projection of the structure 75 m further to the northwest.
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 from the Orleans and Great Western Mines, with
recoveries of 92% to 98% for gold through cyanidation. Most this production was from the Orleans Mine.
It is estimate that there is almost 4,200 m of horizontal development in the Orleans Mine, accessed via the
central Dunfee shaft. The workings are mostly open and are dry to approximately 275 m vertically below
surface on the Orleans Vein (1020 ft level).
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 Gold Point Project is situated alongside the community of Gold Point, which is accessed by Highway
774. The Gold Point property totals 4,917 acres (19.9 km2) and consists of 257 lode claims and 7 patented
claims.
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.
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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 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 P oint 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
“W. Douglas Eaton”
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Doug Eaton
CEO 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
NA Toll-Free: (888) 688-2522
Corporate Information
Linda Knight
Corporate Secretary
Tel: (604) 688-0546
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.
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 hist orical 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