VANCOUVER, BC / ACCESS Newswire / February 19, 2025 / GGL Resources Corp. (TSXV:GGL) ("GGL" or the "Company") is pleased to provide investors an update on its two key assets; the McConnell copper-gold project in northern BC, and the Gold Point gold project in Nevada.
News Release Highlights:
-
Copper-gold porphyry targets identified at the McConnell Project and adjacent to a 12 km long shear hosted gold zone, Toodoggone District, BC
-
The consolidated, past-producing Gold Point Camp in Nevada's Walker Lane hosts strongly oxidized, high-grade and bulk-tonnage gold targets.
CEO Statement
"We are very pleased to highlight GGL's flagship projects, located in two of the most prominent exploration districts in North America" stated Matthew Turner, GGL's Interim CEO. "McConnell brings a potential copper-gold discovery in BC's Toodoggone District near Amarc Resources Ltd.'s new Aurora porphyry discovery, while Gold Point hosts oxide gold targets near a major highway and close to Anglo-Ashanti's Silicon Discovery. GGL intends to advance both projects in 2025."
McConnell Project
The 100% owned, road accessible and permitted McConnell Project is located in the Toodoggone mining district of northern BC, approximately 20 km southeast of the past producing Kemess copper porphyry deposit. The project is also on-trend with Amarc Resources Ltd.'s ("Amarc") new Aurora discovery made on its Joy project that Amarc is exploring with Freeport-McMoRan. Other on-trend past producers include the Shasta, Bakers and Lawyers high-grade gold mines which are currently being reevaluated for copper-gold porphyry potential. The McConnell Project currently covers over 70 km2 while core areas of the project have been held continuously by GGL since 1981 and have seen little exploration in the last 30 years.
Historical exploration focused on the eastern part of the property, outlining a 9 km x 300 m wide zone of shear hosted mesothermal (orogenic) gold mineralization. The strong correlation between the mineralized quartz veins and a ground VLF-EM survey indicates the zone continues under cover for a total of 12 km. Past drilling by GGL returned multiple one-meter intervals of 10 - 15 g/t Au. Trenching has returned 7 - 8 g/t Au over 2 - 5 m. The majority of the work here was conducted in the 80s. There has been no drilling or trenching on the gold zone since 2008.
In recent years GGL shifted exploration efforts to the western portion of the property which contains an under-evaluated copper-gold porphyry target. Potassic altered monzonite has been identified in several surface workings dating back to the 1960s and 70s. Surface samples collected by GGL have returned values ranging from 0.5 - 20% Cu and 1 - 2 g/t Au. Similar to recent discoveries in the district, this area of the project has limited outcrop exposures. However, where exposed the copper-gold mineralization can be found across at least 500 m. A reconnaissance induced polarization (IP) survey conducted in 2008 revealed a yet untested buried chargeability anomaly. Age dating of the intrusion returned a date of 201.4 Ma + 6.4 Ma (LA-ICP-MS on zircon) placing it within the date range of calc-alkalic Cu-Au porphyries of the region (Mihalasky, 2013).
In light of recent significant discoveries in the area, the under evaluated Cu-Au porphyry target at McConnell warrants further advancement. The recent surge in gold prices warrants additional work at McConnell's high-grade gold zone to refine the geologic controls and to model the potential of either a bulk-tonnage or moderate-size high-grade resource.
A technical slide deck of the McConnell Project can be found on the GGL website.
Gold Point
The permitted and road accessible Gold Point Project is located 26 miles south of Goldfield, Nevada, and covers several historical mine sites that intermittently produced high-grade gold and silver between 1882 and 1962. GGL has spent the last several years consolidating this camp-scale gold district with the land package currently totaling approximately 7,400 acres.
The project now covers five significant former mines (Orleans, Great Western, Lime Point, Cook, Grand Central) plus numerous smaller workings totaling at least 17 known to date. Gold is hosted in vein-faults that generally trend WNW-ESE and are exposed over a 1,600 m x 2,200 m area before being obscured by alluvial cover in three directions.
Gold mineralization occurs along the veins with higher grades occurring as shoots at structural intersections. Some examples of higher grades collected underground by GGL at the Orleans Mine are 61.8 g/t Au over 1.38m, 27.7 g/t over 1.68m and 21.4 g/t Au over 1.22m on the 300-, 150-, and 800-foot levels respectively. The underground workings are developed to a maximum vertical depth of 750 ft at the Orleans where the workings are dry and mineralization displays varying degrees of oxidation.
GGL is in the planning stages for exploration work at Gold Point during 2025. The focus of this work will be to evaluate the untested on-strike potential of this camp-scale gold rich vein corridor. The potential exists for additional high-grade discoveries and/or the ability to define a near-surface bulk tonnage target. Efforts will also be directed to further evaluate the high-grade un-mined material accessible from developed levels of all the mines as well as to test the system to depth beyond the historical mine workings.
On September 25, 2024, GGL announced the option of claims covering the Le Champ copper-molybdenum-gold porphyry target at Gold Point to Teck American Incorporated, a subsidiary of a leading Canadian resource company, Teck Resources Limited.
Qualified Person
Technical information in this news release pertaining to the McConnell Project has been reviewed and approved by David Kelsch, P.Geo., President of GGL Resources Corp., a qualified person for the purposes of National Instrument 43-101.
Technical information in this news release pertaining to the Gold Point Project 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 optioned and wholly owned claims in the Gold Point district of the prolific Walker Lane Trend, Nevada. The Gold Point claims cover several gold-silver veins, five of which host past producing high-grade mines, as well as an exciting new porphyry target which is currently under option to Teck American Incorporated. The Company also owns the McConnell Project, which hosts mesothermal gold veins and an under explored porphyry copper-gold prospect in the Kemess District of north-central British Colombia. GGL also holds diamond royalties on mineral leases adjacent to the Gahcho Kué diamond mine and southwest of the Ekati diamond mine in the Northwest Territories.
ON BEHALF OF THE BOARD
"Matthew Turner"
Matthew Turner
Director and Interim CEO
For further information concerning GGL Resources Corp. or its various exploration projects please visit our website at www.gglresourcescorp.com or contact:
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.
Information contained in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "(re-)evaluate", "under-evaluated", "potential", "deeply", "on-trend", "strong", "significant" and similar expressions, or that events or conditions "may", "could" or "will" occur. GGL cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the control of GGL. Such factors include, among other things: risks and uncertainties relating to exploration and development and the results thereof, including the results of the recently completed drill program, the impact on future mineral resource estimates, the potential for new discoveries, and the results of future metallurgical programs, as well as the ability of GGL to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in GGL's financial statements available under the GGL profile at www.sedarplus.ca. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, GGL undertakes no obligation to publicly update or revise forward-looking information.
SOURCE: GGL Resources Corp.
View the original press release on ACCESS Newswire
