Gold Springs Resource Samples from the First 6 Holes at South Jumbo were sent to the Lab
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Gold Springs Resource
Samples from the First 6 Holes at South Jumbo were sent to the Lab
April 25, 2022, Vancouver, British Columbia — Gold Springs Resource Corp. (TSX: GRC,
OTCQB: GRCAF) (the “Company” or “GRC”), has completed the first 6 holes of the 2022 drilling
program around the South Jumbo resource on its large Gold Springs project located in
USA, on the border of Nevada and Utah, one of the best mining jurisdictions in the world.
Randall Moore, Executive Vice President of Exploration, stated: “These first 6 holes at
South Jumbo are designed to expand the resource to the west and at depth , where hole E-
21-012 intersected 5.37 g/t gold equivalent over 19.8 meters at the bottom of the hole . All
6 holes have hit veins and zones of stockwork veins and breccia development which are
favorable for gold mineralization . Samples f rom these holes have been delivered to the
laboratory for assay and we are expecting the results in the coming few weeks. We have
planned 6 additional holes at South Jumbo and thereafter the RC drill will move to Charlie
Ross, one of the 2021 discoveries. Our objective there is to further expand the gold systems
we found, which extends over a 400 -meter-long zone and remains open both along strike
and at depth. In addition, our 2021 drilling identified two potential parallel zones of gold
mineralization which will be explored this year”.
Gold equivalent based on US$1,800/oz gold and US$25/oz silver. For further information on the above the
results, please refer to Company’s news releases dated July 5, 2021 and October 19, 2021.
Drill Hole Table
Exploration update:
The resource update based on the 2021 drilling is expected by the end of May 2022.
A second RC drill will arrive in early June and will be deployed at White Point and
Homestake, two of the new discoveries located on the Nevada portion of the project.
The ground based CSAMT geophysical survey covering most of our 33 targets is
scheduled to start in early July.
Hole ID Target Easting - UTM NAD 27 Northing - UTM NAD 27 Elevation (m) Azimuth Inclination TD (m)
E-22-001 South Jumbo 760657 4196674 1974 270 -55 198.1
E-22-002 South Jumbo 760667 4196722 1989 270 -55 231.6
E-22-003 South Jumbo 760631 4196800 1977 270 -50 237.7
E-22-004 South Jumbo 760680 4196655 1972 270 -55 234.7
E-22-005 South Jumbo 760736 4196572 1975 270 -45 231.6
E-22-006 South Jumbo 760808 4196105 1944 270 -55 176.8
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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 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 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:
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 , and include the anticipated timing of completion of the res ource
update and of the results of the assays for the recently completed drilling . 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 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 continuo us 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 an d development programs for Gold Springs, which
may change due to changes in the views of the Company or if new information 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 update or revise any
forward-looking statement, whether as a result of new information, future events or any other reason.
Unless otherwise indi cated, forward-looking statements in this press release describe the Company’s
expectations as of the date hereof.