Wed, 14 Apr 2021

VANCOUVER, BC / ACCESSWIRE / April 6, 2021 / GGL Resources Corp. (TSXV:GGL) ('GGL' or the 'Company') is pleased to announce the results of underground sampling conducted in early December at its past-producing Gold Point mesothermal gold/silver project, located in the Walker Lane Trend, southwestern Nevada.

The sampling was completed on the 100 through 500 levels at the Great Western Mine, one of the two main former producers on the Gold Point property.

Highlights from underground sampling include:

  • 23.0 g/t gold and 76 g/t silver over 1.30 m from the 500' Level;
  • 7.48 g/t gold and 64.3 g/t silver over 1.58 m from the 200' Level;
  • 6.87 g/t gold and 40.4 g/t silver over 1.63 m from the 500' Level;
  • 6.65 g/t gold and 29.5 g/t silver over 1.94 m from the 500' Level;
  • 5.99 g/t gold and 73.3 g/t silver over 1.75 m from the 500' Level; and,
  • 3.57 g/t gold and 367 g/t silver over 1.00 m from the 300' Level.

Thirty of the 167 chip samples collected returned greater than 3 g/t gold equivalent, with 89 yielding greater than 1 g/t gold equivalent. The main drifts follow what appears to be a post- or syn-mineralization fault. Other parallel drifts on the 200' and 500' Levels follow a vein in the hanging wall of the main fault. Historical production was primarily focused on mineralized shoots within the main fault, above the 300' Level. There is no historical production record from the 500' Level or lower.

The following table lists chip samples grading greater than 3 g/t gold equivalent collected from the Great Western Mine.

*Gold Equivalent was calculated using a 70:1 silver to gold ratio based on current metal prices and assume 100% recovery of both metals.

Program Update:

Drilling
A reverse-circulation (RC) drill program is currently underway at the Gold Point property. A total of 2,085 metres of drilling in ten holes have been completed. The drilling is testing near to and along strike of known mineralization at the Great Western Mine. The current drill program is anticipated to include 3,000 m of drilling in up to 18 holes.

Tailings
In October 2020, twenty-five representative samples were collected from the main past production tailings storage area and, another six samples collected from a smaller secondary area. Samples collected from the main tailings storage area returned 0.286 g/t gold to 3.62 g/t gold (averaging 1.04 g/t gold), with samples collected from the secondary storage area ranging from 1.645 g/t gold to 27.4 g/t gold (averaging 2.62 g/t gold excluding the highest grade sample).

Systematic hand-auger sampling of both tailings storage facilities has now been completed. A total of 82 samples were collected on a 20 metre grid. Auger samples taken from the main storage area, which covers an approximate area of 13,000 m2, had depths ranging from 0.23 m to 4.57 m, and averaged 1.78 m. In the older storage area, which covers an approximate area of 11,000 m2, depths ranged from 0.18 m to 1.2 m, and averaged 0.55 m.

Soil Sampling
Grid soil sampling was recently completed across the eastern portion of the property where alluvium covers the inferred extension of the structural corridor hosting the gold-silver bearing veins of the main workings. A total of 529 soil samples were collected every 25 m along lines spaced 100 m apart. This geochemical survey is primarily targeting the more mobile pathfinder elements.

Next Steps
Current program samples are being delivered to the analytical laboratory on an ongoing basis. Results will be announced upon receipt and QA/QC verification.

Once all results of the current drilling and sampling program are received, they will be used to design and permit a more aggressive surface drill program. Necessary repairs, safety modifications, and permitting to the Great Western Mine will continue in order for underground exploration, including long hole drilling, to be performed. Preparations and discussions with the relevant authorities are underway to repair the shafts of the Orleans Mine so that those workings can also be accessed, sampled and mapped.

About the Great Western Mine
The Great Western was located in 1905 and first mined in 1907. A mill was built next to the main shaft in 1913, and the mine continued to operate intermittently until the mid-1930s. Ohio Mining Company bought the mine in 1935 to gain access to the mill to process ore from their nearby Orleans Mine, the other former producing mine on the Gold Point property. Following the sale, no large-scale production is known to have occurred at the Great Western Mine. The mines at Gold Point were leased to U.S. Milling and Minerals Co. ('USM&M') between 1958 and 1962, which focused primarily on the adjacent Orleans Mine. Their plan was to connect the Orleans and Great Western mines at the 1,000' level. Although they did not complete this plan, they did perform significant rehabilitation on the Great Western Mine in preparation. All of USM&M's operations abruptly ceased in 1962 due to corporate issues related to another nearby mine. The last known rehabilitation and exploration work on the Great Western Mine occurred in the mid 1980's and was conducted by Fisher-Watt Mining Co. Inc. and their successor.

About Gold Point
The Gold Point project is accessible via highway 774 and serviced by electricity. It hosts a camp-scale precious metal system that consists of numerous gold and silver rich quartz veins. These high-grade veins are typically 1 to 2 m in width and locally up to 7 m wide. Two veins (Orleans and Great Western) were intermittently mined from the 1880s through to the early 1960s. Existing underground workings are mostly open and are dry to approximately 275 m below surface on the Orleans Vein (1020 ft level) and 240 m on the Great Western Vein, (960 ft level). Historical records indicate that the mines 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 1000 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. 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.

All analyses were performed by ALS Minerals in Reno, Nevada. All samples were routinely analyzed for gold by a 50 g fire assay followed by atomic absorption (Au-AA26) and 48 elements by inductively coupled plasma-mass spectrometry (ME-MS61).

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 recently acquired an option on the Gold Point project in the prolific Walker Lane Trend, Nevada, which consolidated several gold-silver veins, two of which were past producing high-grade mines. The Company also holds 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 in close proximity to the Gahcho Kué diamond mine in the Northwest Territories.

ON BEHALF OF THE BOARD
'David Kelsch'
David Kelsch
President, COO and Director

For further information concerning GGL Resources Corp. or its various exploration projects please visit our website or contact:

Investor Inquiries
Richard Drechsler
Corporate Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com

Corporate Information
Linda Knight
Corporate Secretary
Tel: (604) 688-0546
info@gglresourcescorp.com

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 assumptions 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.

SOURCE: GGL Resources Corp.



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