GGL Resources Acquires Significant Land Position in Lac de Gras Diamond District, Northwest
GGL Resources Acquires Significant Land Position in Lac de Gras Diamond District, Northwest
Territories, Canada
Vancouver, BC – April 24, 2018 – GGL Resources Corp. (TSX -V: GGL) ("GGL") (“Company“) is pleased to
announce the acquisition of three 100% owned diamond properties prominently located in the prolific Lac de Gras
diamond district, Northwest Territories. Lac de Gras is home to Canada’s first two diamond mines, the world class
Diavik and Ekati mines discovered in the 1990’s.
GGL acquired the mineral tenures in early 2018 by way of staking and retains a 100% undivided interest in each
property with no underlying conditions or royalties. The properties are strategically located taking advantage of
proven economic trends, historic diamondiferous kimberlite discoveries, positive exploration results from the
Company’s previous exploration campaigns and proprietary exploration dataset as well as a thorough review of
information in the public domain.
Bishop Property
The Bishop property is comp osed of 37 new mineral claims and one existing mineral lease collectively
encompassing 30,667 hectares. The property contains the diamondiferous Bishop ki mberlite discovered by GGL in
2006 and is south of and on trend with the economic diamond deposits of the Ekati diamond mine.
A portion of t his region of Lac de Gras was extensively explored by GGL over a decade ago and included multiple
seasons of explora tion campaigns with d etailed airborne geophysics and heavy mineral sampling dominat ing the
work. High resolution ground geophysical surveys followed up on airborne targets , some of which were prioritized
by indicator mineral results. This work resulted in the discovery of the Bishop kimberlite which returned 11
diamonds from the initial 78.2 kilogram sample. Further review of the Bishop data suggests that additional drilling is
required to thoroughly evaluate the geology, geometry and diamond distribution t hroughout the kimberlite as
additional phases may be present.
A large gravity anomaly proximal to Bishop was subsequently tested with several short reverse circulation drill
holes. This limited drilling encountered small kimberlite intercepts . Further grou nd geophysics followed by core
drilling is required to determine the size and potential grade of this kimberlite discovery.
The remainder of the property contains numerous high priority targets identified in previous exploration campaigns
conducted by GGL. The world economic crisis of 2008 essentially eliminated access to capital for exploration
companies and as a result the Company was not able to move these targets forward to drill evaluation. The Company
now plans to continue its target evaluation process which has been on hold since.
In addition to the reacquisition of historic GGL targets in the Bishop staking campaign , the Company was also
successful in acquiring the Courageous kimberlite located in the south of the new land tenure. The Courageous
kimberlite, initially identified in 2005 , was further advanced with core drilling in 2008 by Consolidated Global
Diamond Corp. (“CK”). GGL’s review of public domain data identified this historic discovery as open ground. The
Courageous kimberlite geophysical anomal y was described by CK as being a coincident magnetic and r esistivity
anomaly. CK announced drilling into sediments containing various amounts of tuffaceous kimberlite rocks. The
crater sediments are described as occupying a sub circular area of approximately 1,100 meters. Drilling diffi culties
prevented CK from penetrating beyond the crater sediments and fully evaluat ing the potential diatreme below. A
78.4 kg sample of the sediments returned 8 micro -diamonds indicating the kimberlite source rocks are diamond -
bearing. GGL intends to complete detailed ground geophysical surveys at Courageous followed by further
evaluation of the kimberlite and its diamond potential.
Zeus Property
The Zeus property consists of 22 mineral claims totalling 14,803 hectares. It covers a portion of Lac de Gras and the
north shore and is located only 11 kilometers south of the Ekati Diamond mines’ Fox kimberlite which is the
southerly most kimberlite body in a linear trend of economic deposits at Ekati. The Zeus property is strategically
located directly along this trend.
This trend of significant ly diamondiferous kimberlite bodies is further validated by New Nadina’s Monument
project adjacent to the southwestern boundary of the Zeus property. Monument contains several kimberlite bodies
where initial sampling has collectively retur ned encouraging d iamond counts. The potential for new discoveries in
this brownfields area i s further emphasized by North Arrow Minerals Inc.’s recent announcement of a new
kimberlite discovery on their Loki project adjacent to the south eastern boundary of Zeus and on tren d with this
string of significantly diamondiferous kimberlite bodies including those in the Ekati mine plan.
The Company intends to employ modern kimberlite exploration techniques along with hands-on discovery
knowledge of the Lac de Gras kimberlite field to add additional discovery to this apparent “gap” in the trend. The
Zeus property has been open ground and unexplored for over 5 years.
Rhombus Property
The Rhombus property lies 40 kilometers northwest of the Ekati Diamond mine and consists of 25 mineral claims
covering 21,336 hectares. This strategic location exploits an apparent periodicity in the Ekati and Diavik economic
trends further supported by the nearly one carat per tonne large DO -27 kimberlite resource controlled by Peregrine
Diamonds Ltd.
Rhombus contains 4 kimberlites discovered in the early 1990 ’s, all of which are diamond bearing. A review of data
in the public domain suggests there is the potential for additional unidentified kimberlite bodies. The original
discoveries were a quarter of a century ago and no work has been conducted on the property area in over a decade.
Kimberlite exploration tools, techniques and understanding have evolved immens ely in the past decade and the
Company plans to apply these advanceme nts to move the property towards additional discovery. This approach has
been successfully demonstrated by Kennady Diamonds Inc. at the Kelvin -Faraday kimberlite complex initially
discovered in 1999 -2000. It received no further evaluation for a dozen years due to the initial interpretation and
resulting lack of encouragement. In 2012 , a new approach including modernized exploration techniques and
understanding has developed this kimberlite complex to the resource stage with a recent all share purchase by
Mountain Province Diamonds Inc. valued at $162-million (April 2018).
PGB (non-diamonds)
Silver Range Resources Ltd. has terminated the option agreement to explore for non -diamond minerals (GGL press
release September 12, 2017) on GGL’s 100% owned Providence Greenstone Belt, Northwest Territories.
The technical information in this news release has been approved by David Kelsch, P.Geo., President of GGL
Resources Corp. and a qualified person for the purposes of National Instrument 43-101.
About GGL Resources Corp.
GGL is a Canadian -based junior diamond exploration company currently focused in the Lac de Gras diamond
district in 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 1990’s. In addition to GGL’s key focus of diamond exploration, it holds
diamond Royalties on mineral leases in close proximity to the Gahcho Kue diamond mine in the Northwest
Territories. The Company also holds in portfolio several encouraging base metal and gold projects in British
Columbia and Northwest Territories.
ON BEHALF OF THE BOARD,
“David Kelsch”
David Kelsch
President and COO
For further information concerning GGL Resources Corp. or its various exploration projects please visit our website
at www.gglresourcescorp.com or contact:
Corporate Information
Linda Knight
Corporate Secretary
Tel: (604) 688-0546
Investor Inquiries
Richard Drechsler
Corporate Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
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.
This news release may contain forward looking statements based on assum ptions 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.
.