Edmonton, Alberta – (November 2, 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 Project, located 40 kilometers from the City of Quesnel, British Columbia, in the prolific Cariboo Mining District.
The Company has completed its first two deeper holes of a planned program of ten drill holes in Zone 2. Zone 2 is located approximately 8 kilometers southeast of Zone 1, which is already known to contain nickel, chromium, magnesium and talc, based on previous drilling. Zone 2 consists of a bedrock outcrop covering an area over 1 square kilometer. Both Zone 1 and Zone 2 are located along the 14 kilometer long Deep Purple magnetic anomaly.
Nickel on the property is hosted in ultramafic rocks, mainly black phaneritic peridotite, belonging to the Slide Mountain Terrane (Crooked Amphibolite). The peridotite exhibits intense serpentine alteration and strong brecciation. Talc alteration occurs along quartz-calcite veinlets. Sulfides in the core are made up of disseminated pyrite, pyrrhotite, and pentlandite. The Slide Mountain Terrane overlies metasediments (limestone and sandstone) belonging to the Ramos Succession of the Barkerville Terrane. The metasediments were intersected at 45.8 m in hole WK-22-01 and 73.15 m in hole WK-22-02.
Drill holes WK-22-01 and WK-22-02 were drilled along the eastern margin of the Slide Mountain Terrane exposure. We anticipate the upcoming western drill holes WK-22-06 through WK-22-10 will intercept a thicker portion of nickel mineralization within the Slide Mountain Terrane. Nickel mineralization is open in all lateral directions in reference to holes WK-22-01 and WK-22-02.
The drill core was delivered to the Company’s facility in Quesnel and was scanned with an XRF analyzer. Drill hole WK-22-01 was drilled to a depth of 81 meters. From surface to 49.2 meters the Nickel content averaged 0.251%. Drill hole WK-22-02 was drilled to a depth of 97.5 meters. From surface to 76 meters the Nickel content averaged 0.263%.
The nickel grades recorded with a handheld XRF scanner were higher than the Company encountered with its prior drilling programs in Zone 1 and Zone 2. Highlights from Zone 2 thus far include 0.355% nickel over 7 meters in hole WK-22-02, from 12 meters to 19 meters.
Zone 2 Winkie Drill
Hole XRF Results
|Hole #||Meters drilled||Ni Hole Average %||Cr Hole Average %|
|WK-22-01||From 0 to 49.2||0.251||0.151|
|WK-22-02||From 0 to 76.0||0.263||0.146|
|Total Meters Drilled||125.2|
|Average over 2 Holes||0.258||0.148|
The previously reported shallow backpack Drill Holes from Zone 2 are repeated here for comparison purposes.
Zone 2 Backpack Drill
Hole XRF Averages
|Hole #||Meters drilled||Ni Hole Average %||Cr Hole Average %|
|FCD-22-01||From 0 to 5.9||0.208||0.141|
|FCD-22-02||From 0 to 2.0||0.203||0.171|
|FCD-22-03||From 0 to 3.0||0.245||0.139|
|FCD-22-04||From 0 to 5.3||0.214||0.165|
|FCD-22-05||From 0 to 5.2||0.195||0.141|
|FCD-22-06||From 0 to 4.7||0.191||0.174|
|FCD-22-07||From 0 to 6.0||0.213||0.133|
|FCD-22-08||From 0 to 7.0||0.173||0.125|
|FCD-22-09||From 0 to 4.9||0.161||0.169|
|FCD-22-10||From 0 to 5.2||0.185||0.128|
|FCD-22-11||From 0 to 6.0||0.192||0.162|
|FCD-22-12||From 0 to 3.9||0.229||0.199|
|FCD-22-13||From 0 to 2.3||0.175||0.150|
|FCD-22-14||From 0 to 4.4||0.210||0.120|
|FCD-22-15||From 0 to 6.0||0.187||0.147|
|FCD-22-16||From 0 to 7.3||0.218||0.166|
|FCD-22-17||From 0 to 4.5||0.216||0.154|
|Total Meters Drilled||83.6|
|Average over 17 Holes||0.200||0.152|
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.
Perry Little, President and CEO of Green River comments, “We are pleased to see the nickel grades increasing as we drill deeper. We look forward to the results of the next 8 Drill Holes which we plan to drill over the next several weeks. Green River has yet to drill a hole anywhere on the 14 kilometer long Deep Purple anomaly that does not have similar nickel and chromium values from surface and we have drilled various locations over a 10 kilometer stretch of the property so far. We remain hopeful that the mineralization will continue over the entire Deep Purple anomaly.”
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.
For more information contact:
Green River Gold Corp.
Mr. Perry Little – President and Chief Executive Officer
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.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.