Gold Springs Resource News from Drilling Activities at Charlie Ross
Page 1
Gold Springs Resource
News from Drilling Activities at Charlie Ross
Vancouver, August 19, 2021
Gold Springs Resource Corp. (TSX: GRC, OTCQB: GRCAF) (the “ Company”), has now
completed 9,500 of its 27,300 meters 2021 RC drilling program at its flagship Gold
Springs project located in USA on the border of Nevada and Utah, one of the best mining
jurisdictions in the world.
Randall Moore, Vice President of Exploration stated “We have just completed 13 holes
within the previously undrilled Charlie Ross target and we are encouraged by the thickness
of the strongly altered zones we are seeing from our drilling . The silicified portions of the
holes are exactly what we were hoping to see, and they correlate very well with the CSAMT
high resistivity anomaly. Now, we look forward to the assay results in October“.
Charlie Ross Target
Charlie Ross is located in Nevada, 2,000 meters west of the North Jumbo resource area.
In 2020, the Company completed a CSAMT ground-based geophysical survey
(Controlled-Source Audio -Magnetotelluric) covering different portions of the property.
Within Nevada, the survey covered the cluster of targets consisting of Charlie Ross, Pope,
Tin Can, and Red Light and the results show that they all are underlain by a single large
CSAMT high resistivity anomaly. The underlying resistivity anomaly covers an area
measuring 650 meters east-west and 750 meters north-south creating a single very large
target which we will refer to from now on as the Charlie Ross target. There is a close
correlation between high resistivity and gold mineralization as seen at existing resources
currently defined at Gold Springs (see press release September 2, 2020).
The 13 holes drilled are all located over the southern portion of this large target and cover
an area extending 500 meters east -west and 250 meters north -south. Ten holes
intersected two flat lying, stacked, strongly silicified and brecciated zones with
intermittent veining and some larger vein intercepts of up to 4 meters. The upper zone is
approximately 25 meters thick and the lower zone averages 75 meters in thickness. The
alteration in these holes is similar to that seen at the North and South Jumbo res ource
areas and the larger veins have characteristics of the historic mines in the district.
For more information , please visit: https://goldspringsresource.com/projects/target-
with-drilling/charlie-ross-pope-red-light-tin-can/
Page 2
Qualified Person
The Qualified Person on the Gold Springs Project is Randall Moore, Executive Vice
President of Exploration for Gold Springs Resource Corp. He has reviewed and approved
the scientific and technical content of this press release.
About Gold Springs Resource Corp.
Gold Springs Resource Corp. (TSX: GRC and OTCQB: GRCAF) is focused on the
exploration and expansion of the gold and silver resources of its PEA-stage Gold Springs
project located in USA at the border of Nevada and Utah, one of the best mining
jurisdictions in the world.
Gold Springs Resource Corp. Contact:
Antonio Canton, President and CEO
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 may 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 d iffer 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" www.sedar.com.
Page 3
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 Nevada and
Utah; the availability of equipment and qualified personnel to advance the Gold Springs
project; execution of the Company’s existing plans and further exploration and development
programs for Gold Springs, which may change due to changes in the views of the Company
or if new in formation arises which makes it prudent to change such plans or programs.
Readers are cautioned not to place undue reliance on the forward -looking statements
contained in this press release. Except as required by law, the Company assumes no
obligation to u pdate or revise any forward -looking statement, whether as a result of new
information, future events or any other reason. Unless otherwise indicated, forward-looking
statements in this press release describe the Company’s expectations as of the date hereof.