Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the “Company” or “Green River”) is pleased to announce an early stage exploration drilling program on its Quesnel NickelCobaltTalc project in British Columbia, Canada.

Following the press release of October 28, 2021, the Company is pleased to announce that it has started drilling short holes using a backpack drill with several new targets identified. Core samples were transported to the Company’s facilities in Quesnel to be recorded and sent for analysis. The talc showing is exposed in several places on the Company’s claims, which makes drilling relatively simple and allows drilling throughout the winter.

The Company hired a drilling company to test a “modified backpack drilling technique”. If successful, this technique could allow drilling up to 20 meters deep. The drilling company has arrived in Quesnel and the cutting of trails to access the drill targets is currently underway. A larger diamond drill capable of reaching depths in excess of 100 meters has been located and will be used for deeper drilling during this winter’s drilling program. The largest drill is expected to be mobilized within the next two weeks.

The Quesnel Nickel / Cobalt / Talc project is adjacent to the Company’s Fontaine gold project. Both projects border Osisko Development Corp.’s Cariboo Gold project, which contains 5 million ounces of gold and is expected to go into production at the end of 2023.

Drilling of short holes will determine the grade and quality of talc exposures, which outcrop at several locations in the project area. The Company will also drill deeper holes to determine the vertical extent of talc mineralization. Based on initial drilling results, the Company will undertake additional drilling throughout the winter to better determine the extent of talc mineralization.

The area targeted by the drill program is host to talc and nickel mineralization (see Sovereign nickel showing, Minfile 093A 130). The area covered by these mineral rights was the subject of an exploration program targeting the potential of a commercial talc deposit during the 1980s. Exploration resulted in the preparation of a preliminary plan for talc extraction in 1986.1

Drilling on the talc showing in the 1980s consisted of relatively shallow holes. The holes are similar to what can be done using the modified backpack drilling technique that the Company will be using this winter. Follow-up drilling with a larger drilling rig will be able to explore potential talc mineralization at depths greater than 100 meters compared to shallow exploration done in the past.

Highlights of the Nickel / Cobalt / Talc Quesnel project:

There are 3 BC MINFILE occurrences as follows:

  • 093A 013 – Sovereign Creek – developed prospect containing talc and magnesite, and coincident nickel sulfide showing.
  • 093A 130 – Sovereign – indices containing talc and nickel sulphides. 093H 061 – RT – index containing nickel, chromium and cobalt.

Talc is a soft mineral used in a variety of industries. Talc is used in the production of plastics, ceramics, paint, paper, roofing, rubber and for other industrial uses. The US Geological Survey (USGS) indicates that total talc sales by US producers in 2020 were around 430,000 tonnes valued at around US $ 100 million. The USGS estimates that total mining production worldwide in 2020 was 5,800,000 tonnes, of which approximately 220,000 tonnes were produced in Canada. To the Company’s knowledge, there are no talc mines in Western Canada.

In addition to gaining more knowledge about talc occurrences on the property, the Company intends to drill using the larger rig to gain more knowledge about the potential for nickel and cobalt in the same area. general than talc. The Company will focus on new known and potential nickel and cobalt targets with the intention of continuing drilling with larger RC / DD rigs in 2022.

The results of the recently completed UAV-MAG survey on the Quesnel Nickel / Cobalt / Talc project area indicate the presence of highly magnetic rocks coinciding with the interpreted surface exposure and the down-dip projection of a favorable ultramafic rock assemblage. . This is similar to the aeromagnetic response in the zone of nickel alloy mineralization found in the BC Decar district.

Kyle Townsend, Mine Manager for Green River Gold Corp., says, “I am very excited to try out the modified backpack drilling technique. If successful, this technique will dramatically reduce our exploration costs while quickly producing valuable results. The first target we chose was the twin hole 86-1, drilled by Trifco Minerals in 1986. Existing records indicate favorable conditions for this method of drilling. Our intention is to delineate the talc mineralization indicated by Trifco Minerals. This round of drilling is an exciting step towards getting the important data we need. “

Perry Little, President and CEO of Green River Gold, said: “We are very pleased with the progress made in the past few weeks. We are delighted to extend our exploration program to the Quesnel Nickel / Cobalt / Talc project. In addition to learning more about the potential of a commercial talc deposit, the focus will be on nickel and cobalt. Preliminary metallurgical work completed in 1971 suggested the presence of nickel sulphide or nickel alloy minerals. / Cobalt targets in the project area for a follow-up RC / DD drilling program and to extend the zones of mineralization in 2022. “

Regional exploration plan:

In addition, there will be upcoming exploration plans for the Fontaine Lode gold project, which is contiguous to the Quesnel Nickel / Cobalt / Talc project and also contiguous to Osisko Development Corp’s Cariboo Gold project. Green River is also awaiting assay results from the recently completed random sampling program at the Quesnel Nickel / Cobalt / Talc project and the Kymar Silver project.

Qualified person:

Stephen P. Kocsis is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical information contained in this press release.

About Green River Gold Corp.

Green River Gold Corp. is a Canadian mining exploration company focused on its high grade Fontaine, Quesnel Nickel / Cobalt and Kymar Silver gold projects which are located in renowned mining districts of British Columbia. The properties straddle an 18 km length of the Barkerville and Quesnel terranes and abut the Osisko Development Corp. group of mineral claims. containing a proposed mine site on its Cariboo gold project.

The Kymar Silver project is located in southeastern British Columbia, approximately 28 kilometers west of the town of Invermere in the Golden Mining division. The property is made up of two mining tenures totaling 1,440 hectares, along the southeast flank of Mount Catherine.

For more information, contact:

Green River Gold Corp.
Mr. Perry Little – President and CEO
[email protected]
780-993-2193

Additional information about Green River Gold Corp. can be found by viewing his profile on SEDAR at www.sedar.com.

Forward-looking information: This press release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as “anticipates”, “expects”, “believes”, “estimates”, “could”, “intends”, “could”, “plans”, “foresees”, “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 press release is based on what management considers to be a reasonable assumption. 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 contained in this press release is made as of the date hereof and, except as required by applicable securities legislation, the Company assumes no obligation to update or revise this 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 press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy securities, and there will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be illegal. .

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.


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