EDMONTON, ALBERTA – Green River Gold Corp. (the “Company” or “Green River”) is pleased to announce that it has purchased a 100% right, title and interest in and to the Hot Punch Silver Project (“Hot Punch”) from an independent, arm’s length third party, subject only to a two (2%) percent Net Smelter Royalty (“NSR”) in favour of the vendor. Hot Punch consists of 144.16 hectares of mineral rights that are contiguous to the Company’s Kymar Silver Project, in southeastern British Columbia. Payment for the Hot Punch Silver Project will be made by the issuance of 200,000 common shares in the Company and a 2% NSR. Green River has the exclusive and irrevocable option to purchase from the vendor 50% of the NSR in exchange for an aggregate cash payment of $1,000,000.
Furthermore, the Company has staked an additional 4 mineral tenures, comprising 82.4 hectares contiguous with the Hot Punch claims. With the addition of Hot Punch and the newly staked claims, Green River has increased its land position at the Kymar Silver Project to 1,440 hectares (collectively, the “Property”).
Hot Punch mineralization is hosted within dolomite of the Mount Nelson Formation and may be, in part, also hosted within conglomerate of the Toby Formation (Open File 1990-26). Mineralization occurs in 0.1- to 1-metre-wide fissure veins in sheared dolomite. A total of 74 tonnes was mined between 1908 and 1926 to produce 108,582 grams of silver, 27,268 kilograms of lead, 904 kilograms of zinc, and 62 grams of gold. Ore minerals include galena, sphalerite, tetrahedrite and minor chalcopyrite.
The Property was explored by three separate adits and a small shaft. In 1996, geochemical and geophysical work was done on the Property, resulting in defining mineralization over a strike length of 600 metres. 1
The work program designed for the 2021 exploration season on the Kymar Project is grassroots, boots on the ground, exploration. The program includes compilation of historical data, geochemical surveying, prospecting, limited backpack diamond drilling, and a UAV-DEM geophysical survey. The main target area is in the vicinity of the M.T. Fraction adit where historical records indicate the production of 254.6 kilograms of silver, 1,655 kg of copper and 39 kg of lead. The goal of the 2021 work program is to identify known and potential new targets on the Property, confirm historical records, and proceed with further evaluations.
In addition, the Company is pleased to announce the launch of its newly designed website at greenrivergold.com. Investors can go there to find up to date information on our Kymar Silver Project as well as our other projects and all corporate developments.
About Green River Gold Corp.
Green River Gold Corp. acquires and develops placer mining claims and mineral claims. The Company controls a 100% interest in the flagship Fontaine Gold Project. The 8,900-hectare Fontaine Gold Project is situated 12 kilometers southwest of Barkerville. The property includes both placer and hard-rock tenures. The 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 Company controls a 100% interest in the 1,440-hectare Kymar Silver Project, located 28 kilometers West of Invermere, British Columbia.
The Company controls a 100% interest in placer mining projects on the Little Swift River, Sovereign Creek, Willow River, and Swift River. The Company rents placer claims to placer gold miners for cash rent, in lieu of a royalty.
Green River Gold Corp. also distributes equipment and supplies for the placer mining industry and is a Limited Partner in the Green River Gold Trading Limited Partnership, which purchases raw placer gold from miners. Those operations and mining projects are based out of a 6,000 square foot office, retail, and manufacturing facility in the heart of the Cariboo Mining District in Quesnel, British Columbia.
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.
For more information contact:
Green River Gold Corp.
Mr. Perry Little
President and Chief Executive Officer