Gold Springs Resource Reports on Three Additional Targets at its Flagship Project
Gold Springs Resource Reports on Three Additional Targets
at its Flagship Project
September 9, 2020, Vancouver, British Columbia — Gold Springs Resource Corp.
(TSX: GRC, OTCQB: GRCAF) (the “Company” or “GRC”) , is pleased to announce mapping and
surface-sample results generated on the Ridge, West Ridge and Big Summit targets on the Nevada
portion of the Gold Springs project (see map below). GRC work has generated high -grade gold
and silver values in all of these areas as the targets are readied for drilling.
The targets display banded and bladed epithermal quartz and quartz-calcite veining, breccias and
stockwork zones as is typica lly seen within the current resource areas at Gold Springs . Material
from th ese veins which was collected from outcrops, float and historic mine dumps returned
multi-gram gold results. The Ridge target vein samples grade as high as 2.77 g/t Au and 20.8 g/t
silver. Vein samples from the West Ridge target grade up to 5.60 g/t Au and 32.6 g/t silver. The
Big Summit target area returned the highest grades with samples as high as 30.3 g/t Au and 94.2
g/t silver. Together Ridge, West ridge and Big Summit encompass a 7. 2 square-kilometre area
within the western portion of the Gold Springs project and is predominantly covered by post
mineral material.
Matias Herrero, President and CEO, stated “ Our continuing effort to not only prepare the
multitude of gold targets for drilling but to convey the size and the potential for hosting additional
resources, has again generated high-quality targets containing high-grade gold mineralization.
We are excited to develop an understanding for the size of these targets that have seen little
attention in the past. With the dimensions of these three areas covering over 7 square kilometres
and the excellent gold grades generated during our sampling efforts these targets have gr own far
past our initial interpretations. These targets are largely concealed by post-mineral cover, but our
field crews have identified controls for the gold mineralization on these very promising areas
which we hope to prove capable of hosting new mineral resources.”
Ridge Target
The Ridge target is located 3 kilometers west of the White Point target (press release August 4,
2020) along the Deer Lodge canyon structural zone. The Deer Lodge canyon marks the northwest
boundary of the Gold Springs Caldera, a splay of which hosts the Grey Eagle resource . Much of
the Ridge target is covered with post-mineral colluvium but examin ing the limited outcrops,
historic workings , and mineralization found in float has provided evidence of an extensive
epithermal gold system below the shallow cover . Mineralized float is found over a 1.7 x 1.1
kilometre area signifying the potential size of the Ridge target. In historical working near the
caldera margin there are outcropping explosion breccias typically found at high levels within
epithermal gold systems indicating there may be a fully preserved system hosted along the caldera
boundary.
Mineralized material in float include, stockwork veining in andesite, banded and bladed quartz -
calcite veins, and silicified hy drothermal breccias. Vein samples returned assays as high as 2.77
g/t Au and 20.8 g/t silver, with hydrothermal breccia grading 0.44 g/t Au and 35.7 g/t silver.
Values greater than the resource cut-off grade of 0.25 g/t Au are listed below.
Table: Rock Chip Sampling Results from the Ridge target
SAMPLE Sample Type Description Target Au g/t Ag g/t
225278 Float
Banded/Bladed
Calcite-Quartz
vein
Ridge 0.36 3.7
225274 Float Banded Quartz
vein Ridge 0.99 9.6
225277 Float Banded Quartz
vein Ridge 1.39 20.8
225271 Float Banded/Bladed
Quartz vein Ridge 1.43 17.7
225279 Float Banded/Bladed
Quartz vein Ridge 0.75 11.8
225288 Float Banded/Bladed
Quartz vein Ridge 2.77 11.2
225262
Outcrop,
Discontinuous,
0.5m
Banded/Bladed
Quartz-Calcite
vein
Ridge 0.94 2.1
225263 Dump
Banded/Bladed
Quartz-Calcite
vein
Ridge 0.33 3.1
225282 Float Vuggy Banded
Quartz vein Ridge 0.85 2.2
225259 Float Banded Quartz
vein Ridge 1.92 15.6
225270 Float Banded/Bladed
Quartz vein Ridge 0.66 6
225251 Float Hydrothermal
breccia Ridge 0.44 35.7
West Ridge Target
West Ridge is located immediately south of the Ridge target in the western portion of the Gold
Springs project area. Similar to the Ridge target, much of the area is covered with a thin layer of
colluvium, with mineralized float found over the 1.6 x 1.2 kilometre target area. Together the Ridge
and West Ridge targets represent a large caldera-margin block, similar to the one hosting the Grey
Eagle resource.
Within the historical workings at the West Ridge target veins, breccia and stockwork zones are
found to be gold bearing with vein material assays up to 5.60 g/t Au and 32.6 g/t Ag with
stockwork zones along the vein margins grading +1.0 g/t gold. Values greater than the resource
cut-off grade of 0.25 g/t Au are listed below.
Table: Rock Chip Sampling Results from the West Ridge target
SAMPLE Sample
Type
Description Target Au g/t Ag g/t
224589 Float Calcite-Quartz
vein
West
Ridge
0.73 7.1
224570 Float Banded Quartz-
Calcite vein
West
Ridge
0.43 13.3
224566 Float Banded Quartz-
Calcite vein
West
Ridge
0.65 14.8
224573 Float Banded Quartz-
Calcite vein
West
Ridge
1.5 9.4
224580 Float Banded Quartz-
Calcite vein
West
Ridge
0.65 17.4
224587 Float Banded Quartz-
Calcite vein
West
Ridge
3.09 17.2
224599 Float Banded/Bladed
Calcite-Quartz
vein
West
Ridge
1.57 11.2
225305 Float Banded/Bladed
Calcite-Quartz
vein
West
Ridge
0.27 7.9
224576 Float Quartz vein West
Ridge
0.79 9.5
224597 Float Banded Quartz
vein
West
Ridge
0.34 7.2
225302 Sub-
Outcrop
Banded Quartz
vein
West
Ridge
0.93 21.4
224593 Float Bladed Quartz
vein
West
Ridge
0.75 8.9
224598 Float Banded/Bladed
Quartz vein
West
Ridge
5.07 13.4
224562 Float Quartz-calcite
vein
West
Ridge
1.88 13.9
224571 Dump Quartz-calcite
vein
West
Ridge
1.74 15.1
224579 Float Quartz-calcite
vein
West
Ridge
0.49 11.8
224574 Dump Quartz-calcite
vein
West
Ridge
1.56 2.6
224564 Float Banded Calcite-
Quartz vein
West
Ridge
5.6 32.6
224567 Float Banded/Bladed
Quartz-Calcite
vein
West
Ridge
0.58 4.5
224591 Float Quartz vein West
Ridge
0.39 0.8
224592 Float Quartz vein West
Ridge
0.37 3.7
224582 Float Quartz vein West
Ridge
0.3 1.9
224586 Float Quartz vein West
Ridge
0.29 1.0
224563 Float Banded Quartz
vein
West
Ridge
0.4 3.5
224595 Float Stockwork Quartz
veining
West
Ridge
1.1 8.4
225301 Float Stockwork Quartz
veining
West
Ridge
1.43 6.0
224588 Float Hydrothermal
breccia
West
Ridge
0.39 9.6
224572 Outcrop Hydrothermal
breccia and
Quartz-Calcite
vein
West
Ridge
0.41 12.0
224569 Dump Altered andesite
host rock
West
Ridge
0.28 7.3
Big Summit Target
The Big Summit target is located immediately south of the Ridge and West Ridge targets and
shows many similarities to those systems . Much of the area is covered with colluvium with a
limited number of outcrops and historical workings offering insight into what is below.
Mineralized float is found over a 1.7 x 2.0 kilometre area which provides an indication of the large
potential size of this target. Workings in the area reveal altered and mineralized andesite below
post-mineral tuffs and colluvium. Outcropping and sub-outcropping calcite-quartz veins are also
found in areas near the historic workings. Veins are hosted within silicified andesite with several
vein samples returning multi-gram gold values, reaching 30 .3 g/t Au and 94.2 g/t silver. Values
greater than the resource cut-off grade of 0.25 g/t Au are listed below.
Table: Rock Chip Sampling Results from the Big Summit target
SAMPLE Sample Type Description Target Au
g/t
Ag
g/t
225319 Float Bladed Quartz vein Big
Summit
3.06 14.1
225406 Float Banded/Bladed
Quartz vein
Big
Summit
30.3 94.2
225310 Float Bladed Quartz vein Big
Summit
7.74 6.7
225324 Float Bladed Quartz-Calcite
vein
Big
Summit
0.41 8.8
225331 Float Bladed Quartz-Calcite
vein
Big
Summit
1.73 2.9
225333 Float Bladed Quartz-Calcite
vein
Big
Summit
5.2 13.5
225300 Outcrop Banded Calcite-Quartz
vein
Big
Summit
0.78 5.9
jk-20-002 Outcrop Banded Calcite-Quartz
vein
Big
Summit
4.01 18
225405 Outcrop,
Discontinuous,
1m
Banded/Bladed
Calcite-Quartz vein
Big
Summit
0.48 6.5
225296 Float Quartz vein Big
Summit
13.4 14.2
225311 Float Quartz vein Big
Summit
20.9 43.3
225321 Float Quartz vein Big
Summit
0.34 7
225292 Float Hydrothermal breccia Big
Summit
0.38 <0.5
225325 Float Hydrothermal breccia Big
Summit
1.38 <0.5
225297 Outcrop Stockwork Quartz
veining
Big
Summit
0.37 3.2
Qualified Person
The Qualified Person on the Gold Springs Project is Randall Moore, Executive Vice President of
Exploration for Gold Springs Resource Corp. and he has reviewed and approved the scientific and
technical information contained in this press release. The Qualif ied Person verified the data
disclosed herein for its geological reasonableness, checked all the inputs, reviewed standard and
blank lab results, and verified the analytical data.
Assay Method
Assays were performed by ALS Geochemistry, an ISO/IEC 17025:2005 Certified and independent
laboratory in Sparks, Nevada. Gold was analyzed by fire assay of a 30 -gram sample with an AAS
finish. All other elements were analyzed by a four-acid leach ICP method.
Quality Assurance and Quality Control
Approximately 2 -3 kg f or each rock chip sample was sent to the laboratory. The laboratory
includes duplicates of samples, standards and blanks for QA/QC purposes. The results of these
check assays are reviewed prior to the release of data. All assays are also reviewed for their
geological context and checked against field descriptions.
About Gold Springs Resource Corp. (Formerly TriMetals Mining Inc.)
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 on the
border of Nevada and Utah, USA. The project is situated in the prolific Great Basin of Western
USA, one of the best mining jurisdictions in the world.
Gold Springs Resource Corp. Contact:
Matias Herrero
Chief Executive Officer
+1 (778) 801-1667
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”, “hope”, “would”,
“continue”, “will”, “may”, “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 acc eptable 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 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 information arises which m akes 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 update
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.
Figure 1 - Map