Edmonton, Alberta–(September 12, 2022) – Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the “Company” or “Green River“) is pleased to update the progress on the 2022 exploration program at its Quesnel Nickel/Magnesium/Talc Project, located 40 kilometers from the City of Quesnel, British Columbia, in the prolific Cariboo Mining District.
The following assay results are from drill Hole DD-22-05 which was drilled on Zone 1 of the Company’s 14 kilometer long Deep Purple target. XRF results for the hole were originally reported on in a press release dated June 27, 2022. The assay results for nickel and chromium are relatively consistent with the XRF results reported earlier. Those XRF results showed nickel averaging 0.197% and chromium averaging 0.136%. However, The XRF scanner does not pick up the significant magnesium content which continues to show up in the assays. Per the assay, the magnesium content in Drill Hole DD-22-05 is the highest encountered to date at 20.3%. As with all holes drilled in Zone 1 and Zone 2 of the Deep Purple target, drill Hole
DD-22-05 encountered nickel, chromium and magnesium beginning at surface.
Perry Little, President and CEO of Green River Gold Corp., comments “We are excited to see assay results showing the highest magnesium grades to date, along with confirmation of the relative accuracy of the XRF scanner regarding the nickel and chromium results. We continue to be pleased with the consistency of the drill results on Zone 2, especially considering the difference in elevation between the first and second batch of drill holes.”
Exploration drilling continues with backpack drilling on Zone 2 of the Deep Purple Target. Zone 2 is located approximately 8 kilometers southeast of Zone 1. Zone 2 consists of a large ultramafic bedrock outcropping covering an area of over 1.2 square kilometers. Both Zone 1 and Zone 2 are located along the 14 kilometer long Deep Purple magnetic anomaly.
The most recent holes (FCD-22-06 to FCD-22-10) of Zone 2 are shown on the following map. This second batch of five drill holes were drilled at an elevation that is approximately 170 meters lower than the first five Holes (FCD-22-01 to FCD-22-05). Results from the first five holes were reported in a news release on August 31, 2022. Access has been established along the lower portion of this outcropping where drilling is currently underway at 1130 meters in elevation. The first five holes were drilled closer to the top of the outcropping at 1250-1300 meters elevation.
The following topographic map shows the locations of all ten drill holes drilled to date on Zone 2.
The following map shows the locations of Zone 1 and Zone 2 on the 14 kilometer long Deep Purple magnetic anomaly.
The drill core was delivered to the Company’s facility in Quesnel and was scanned with an XRF analyzer. The following tables show the meter-by-meter XRF results of drill hole FCD-22-06 to a depth of 4.7 meters, FCD-22-07 to a depth of 5.9 meters, drill Hole FCD-22-08 to a depth of 4.2 meters, drill Hole FCD-22-09 to a depth of 4.9 meters and drill Hole FCD-22-10 to a depth of 5.2 meters. As was the case with all previous drill holes, mineralization was present from surface in all five drill holes.
Note: The XRF data is taken as point values and will not represent the true grade of the samples assayed. The elemental data is highly dependent on the location of which the beam intersects the rock. The device used to take the data points is an Olympus Vanta C Series handheld X-ray fluorescence (XRF) and produces a beam spot diameter of up to 3mm. It is designed to achieve laboratory-quality results in the field and provides rapid and accurate elemental analysis and testing.
The maiden 2021 exploration drill program consisted of 9 shallow holes collared over exposed ultramafic rocks. These discovery holes returned broad intervals of Nickel, Chromium, and Magnesium mineralization. Assay results from the first 6 of those holes have been received and are presented in the table below as averages along the entire length of each drill hole.
Quesnel Nickel/Magnesium/Talc Project Highlights:
There are 3 BC MINFILE occurrences as follows:
- 093A 013 – Sovereign Creek – developed prospect containing talc and magnesite, and a co-incident nickel sulfide showing.
- 093A 130 – Sovereign – showings containing talc and nickel sulfides.
- 093H 061 – R.T. – showing containing nickel, chromium, and cobalt.
Historical records indicate four widely separated areas of talc alteration along a 1.4- kilometer trend. Having discovered the presence of nickel in the talc mineralization in the area of Do-Do- Creek, the Company will be further investigating the other three known areas of talc alteration for the presence of nickel this season.
Fontaine Lode Gold Exploration Plan:
Last year, the UAV magnetic survey identified many anomalies in the area. In 2022, the exploration crew will collect soil and rock samples from the anomalous locations. Meanwhile, the vein structures, outcroppings, and mineral showings will be recorded and mapped. A backpack drill will be utilized to execute strategic drilling on the outcrops to investigate mineralized occurrences. The project geologist will summarize historical mining activities and previous exploration records. The historical records will be plotted on a map and verified during the 2022 field season.
Stephen P. Kocsis is the qualified person as defined by National Instrument 43-101 and he has reviewed and approved the technical information in this news release,
About Green River Gold Corp.
Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly owned Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.
The Fontaine and Quesnel properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.’s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Kymar Silver Project is located in southeast BC, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,625 hectares, along the southeast flank of Mount Catherine.
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Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.
Forward-Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as “anticipates”, “expects”, “believes”, “estimates”, “could”, “intends”, “may”, “plans”, “predicts”, “projects”, “will”, “would” and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward- looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
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