aeromagnetic

Green River Gold Corp. Completes Maiden Drilling Program at Its Quesnel Nickel/Cobalt/Talc Project in British Columbia

Further to its news release of December 8, 2021, Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce the completion of its maiden drilling program at the wholly owned Quesnel NickelCobaltTalc Project in British Columbia, Canada.

The drill core samples are currently being prepared to be submitted for assay results at ALS Laboratories. Photos of some of the drill core will be available at the Company's website, greenrivergold.com shortly.

Perry Little, Green River Gold's President and CEO stated, "We are very excited to see the early results from this drilling program appear to be very similar to the limited, but impressive, results from the 1980's that inspired the claim owners at the time to proceed to a feasibility study and preliminary mining plan. With increased confidence regarding the presence of talc on the property, we are now shifting our attention to the potential for other minerals, including nickel. The work done in the 1980's had a singular focus on the talc potential and may have overlooked the potential for other metals. We look forward to continued drilling early in 2022."

The area being targeted with the drilling program is host to talc and nickel mineralization (see the Sovereign nickel showing, Minfile 093A 130). The area covered by these mineral rights was subject to an exploration program targeting the potential for a commercial talc deposit during the 1980's. The exploration resulted in the preparation of a preliminary talc mining plan in 1986.[1] To date, only the evaluation of the talc potential has been done. From a thorough review of the records from the 1980's, the potential for other minerals, including nickel, to be present along with the talc was not fully investigated.

The drilling completed on the talc showing in the 1980's consisted of relatively shallow holes. Green River's goal for this preliminary part of the program was to confirm the results of the drilling from the 1980's. One of the first holes that Green River drilled during this program appears to have intersected one of the drill holes from the 1980's. The Company was initially uncertain of the exact coordinates of the 1980's drill program.

The accidental intersection of one of the original drill holes was an extremely unlikely occurrence, but it has given the Company great confidence that Green River is drilling from the exact location that was drilled in the 1980's. Drill results to this point mirror the reported results from the 1980's drilling. The Company intends to follow up the preliminary results in early 2022 using a larger rig capable of reaching depths of over 100 meters with the twin goals of expanding the area of the known talc occurrence and gaining more knowledge of the potential for nickel and cobalt in the same general area as the talc.

Kyle Townsend, Mine Manager for Green River Gold Corp. says "We would like to thank our exploration team and contractor, Paradigm Drilling, for the successful completion of the maiden drill program at the Quesnel Project. We are eager to share initial results from this highly prospective project. While we patiently await assay results from the accredited lab, management has asked our exploration team to develop a follow up exploration program that would include a second phase of drilling at the Project and a 2022 field program to help understand the true extent of our target."

Tyler Tian, Contract Mining Engineer for Green River Gold, provided this geological summary of the drill core from the maiden drill program:

The host rock is carbonate-bearing serpentinite, and its protolith is the ultramafic rock, peridotite (or pyroxenite, as less olivine). Black colour, coarse-grained with grain size ranges from 2 to 16 mm. As serpentinite is a low-temperature metamorphic rock, the texture shows cataclastic, banded, and foliated. The core bears many large crystals of pyroxene, antigorite, and a white milky colour carbonate breccia veinlet (the carbonate vein reacts with acid and fizzing, mainly calcite, less dolomite). The carbonate, mainly calcite recrystallization, could be noticed on the core through the veinlet. Slightly weathering and oxidation shows near the surface (first 2 to 3 meters). Moderate carbonate alteration throughout the core, mainly gray dolomite. Then weak to moderate, talcose alternation replaces the carbonate in the core, showing green colour and waxy texture. The talc crystals aggregate with carbonates shown on the core with grain size ranging from 1 to 30 mm. Slightly chlorite alteration could be noticed as well. There are no other intrusive body shows on the core. Sulphides (less than 1 %of the core) are weakly disseminated along with the ultramafic rock (with pyroxene), mainly pyrite, from the shallow surface. There is a copper-bronze colour mineral associated with ultramafic rock, it could be nickel minerals, such as pentlandite or nickeline. One mineral that has weak magnetic, which might be pyrrhotite. There are minor quartz veins that intersect the drill core with a thickness of less than 5 cm and without any other sulphides showing up in the quartz vein. The sulphides mineralizations are easy to observe along with the fractures. Some of the fractures, the sulphides could take up to 65% of section area, associated with dark colour ultramafic rock, and foliated. At this stage, it could be assumed the mineralization type is lateritic nickel.

The Quesnel Nickel/Cobalt/Talc Project is adjacent to the Company's Fontaine Gold Project. The two projects border Osisko Development Corp.'s Cariboo Gold Project, which contains 5 million ounces of gold and is expected to go into production late in 2023.

Quesnel Nickel/Cobalt/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.

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 U.S. Geological Survey (USGS) indicates that total sales of talc by U.S. Producers in 2020 was about 430,000 tons valued at about US $100 million. The USGS estimates total mine production worldwide in 2020 was 5,800,000 tons with about 220,000 tons produced in Canada. To the best of the Company's knowledge, there are no talc mines in Western Canada.

The recently completed UAV-MAG survey results over the Quesnel Nickel/Cobalt/Talc Project area indicates the presence of highly magnetic rocks co-incident with the interpreted surface exposure and down-dip projection of a favorable ultramafic rock assemblage. This is similar to the aeromagnetic response in the area of nickel-alloy mineralization found throughout the BC Decar District.

Further to its news release of December 8, 2021Regional Exploration Plan:

Additionally, there will be some 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 recent grab sampling program completed at the Quesnel Nickel/Cobalt/Talc Project.

Qualified Person:

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, high-grade Fontaine Gold Project, Quesnel Nickel/Cobalt/Talc Project and Kymar Silver Project which are located in renowned mining districts in British Columbia. The properties straddle an 18km 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 1,440 hectares, along the southeast flank of Mount Catherine.

For more information contact:

Green River Gold Corp.
Mr. Perry Little - President and Chief Executive Officer
perry.little@greenrivergold.ca
780-993-2193

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 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 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.


[1]https://aris.empr.gov.bc.ca/ArisReports/15729B.PDF

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108215

News Provided by Newsfile via QuoteMedia

CCR:CNX
The Conversation (0)
Green River Gold Records Anomalous High Gold, Cobalt, Lead, and Zinc XRF Readings at the Quesnel Nickel Project

Green River Gold Records Anomalous High Gold, Cobalt, Lead, and Zinc XRF Readings at the Quesnel Nickel Project

Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce the preliminary results for drill hole WK-23-01 on its 100%-owned Quesnel Nickel Project, located 40 kilometers east by road, from Quesnel, British Columbia, in the prolific Cariboo Mining District in South Central British Columbia, Canada.

The Company completed the first Winkie drill hole (WK-23-01) for the 2023 season, which ended at a depth of 120.9 meters. Drilling was halted at this depth due to difficult rock conditions. Drill hole WK-23-01 was drilled approximately 900 meters southeast of Zone 1, between Zone 1 and Zone 2 (Figure 2 shows the drill collar location). A strong serpentinized alteration zone was intersected from 47.4 meters to 50.8 meters. The strong alteration zone is highlighted red in the WK-23-01 cross-section (see Figure 1).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Green River Gold Begins Drilling on Its Quesnel Nickel Project and Outlines Its Gold and Nickel Exploration Programs for 2023

Green River Gold Begins Drilling on Its Quesnel Nickel Project and Outlines Its Gold and Nickel Exploration Programs for 2023

Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce that it has commenced drilling on its 100%-owned Quesnel Nickel Project, located 40 kilometers by road, from Quesnel, British Columbia, in the prolific Cariboo Mining District in south central British Columbia Canada. This phase of drilling is a continuation of the Zone 1 drilling program from last year and will comprise approximately 500 meters in 5 diamond drill holes. Last year's Quesnel Nickel program consisted of 42 diamond drill holes, all of which encountered significant nickel, magnesium, chromium and cobalt from surface. The deepest hole was drilled to a depth of 128 meters and ended in mineralization (See Press Release dated January 5, 2023).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Green River Gold Corp. Announces Closing of Private Placement of Units Consisting of Flow-Through Shares and Warrants and Engagement of Venture Liquidity Providers Inc. to Provide Market-Making Services

Green River Gold Corp. Announces Closing of Private Placement of Units Consisting of Flow-Through Shares and Warrants and Engagement of Venture Liquidity Providers Inc. to Provide Market-Making Services

Final Closing of the Flow-Through Offering

Further to its news releases dated March 23, 2023 and April 12, 2023, Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce that the Company has closed on the final tranche of the previously announced non-brokered private placement offering ("Offering") of units ("Units"). In total, the Company issued 7,856,359 Units at a price of $0.07 per Unit for gross proceeds of CAD $549,945. Each Unit consists of one flow-through common share and one-half common share purchase warrant (a "Warrant"). Each Warrant is exercisable to acquire one common share of the Company for a period of 2 years following issuance at a price of $0.12 per common share.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Green River Gold Corp. Acquires Lithium Prospect in Central British Columbia

Green River Gold Corp. Acquires Lithium Prospect in Central British Columbia

Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce that it has acquired a 100% right, title and interest in the KaLi Pegmatite Project (KaLi). The KaLi Pegmatite Project was acquired for staking costs totaling $1,859.14.

The KaLi Pegmatite Project consists of 1059.5 hectares of land (the Property) and dates back to the early 1960's when Noranda Exploration conducted the first comprehensive soil Geochem survey over an approximate 5.0 km by 1.5 km wide area. This was followed up by two other grassroots surveys conducted by Amoco in 1974 and Norseman Mining Corp. in 1980 who further duplicated the geochemistry. In 1981 Placer Development Ltd. performed geochemical and geophysical surveys near the south-western extent of the Property. With the primary focus of exploration in this area over the last 6 decades being focused on Molybdenum, the potential for Lithium Bearing Pegmatites in the area was not specifically targeted by previous exploration. Updates to Green River Gold Corp.'s website are underway, which will include the Company's proposed lithium exploration plans.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Green River Gold Corp. Announces Upsize of Previously Announced Non-Brokered Private Placement Offering of Units Consisting of Flow-Through Shares and Warrants

Green River Gold Corp. Announces Upsize of Previously Announced Non-Brokered Private Placement Offering of Units Consisting of Flow-Through Shares and Warrants

Further to its press release dated March 23, 2023, Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce that due to demand it has increased the size of its previously announced non-brokered private placement of units ("Units"), each Unit consisting of one flow-through common share and one-half common share purchase warrant (the "Offering"). The Company has increased the size of the Offering to up to 8,500,000 Units for gross proceeds of up to $595,000. The upsized offering of Units is now expected to close on or about April 19, 2023.

About Green River Gold Corp.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Gold bars.

5 Top Weekly TSXV Stocks: Gold Stocks Gain as Metal Soars Above US$2,200

The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 1.41 points last week to close at 552.31.

At its latest meeting this past Tuesday (March 19) and Wednesday (March 20), the US Federal Reserve decided to continue holding its benchmark interest rate at 5.25 to 5.5 percent. Chair Jerome Powell indicated that before it begins reducing rates, the central bank wants to see more data showing inflation is moving toward its 2 percent target.

He also said the Fed is still anticipates three cuts before the end of 2024, but declined to say when they will begin.

Keep reading...Show less
Siren Gold

Managing Director Appointment Update

Siren Gold Limited (ASX: SNG) (Siren or the Company) refers to the announcement dated 26 February 2024 in respect to the appointment of Mr Victor Rajasooriar as Managing Director and Chief Executive Officer of the Company effective 2 April 2024.

Keep reading...Show less
Brightstar Resources

Compelling Scoping Study for Jasper Hills Gold Project

Brightstar Resources Limited (Brightstar or the Company) (ASX: BTR) is pleased to announce the results of a positive Scoping Study for the Jasper Hills Gold Project located in WA’s eastern Goldfields region.

Keep reading...Show less
Brightstar Resources

Logical Consolidation to Create a Growing West Australian Gold Producer

Merger of Brightstar Resources Limited and Linden Gold Alliance Limited

This presentation (Presentation) regarding the merger of Brightstar Resources Limited (Brightstar or the Company) and Linden Gold Alliance Limited (Linden) has been prepared by Brightstar and has been authorised for release by the Board of Directors of Brightstar on the basis it is to be read in conjunction with the Key Risks in Appendix 8 and these important notices and disclaimers.

Keep reading...Show less
Brightstar Resources

Brightstar Makes Recommended Takeover Offer for Linden Gold Alliance Limited

Brightstar Resources Limited (ASX:BTR) (Brightstar) and unlisted Linden Gold Alliance Limited (Linden) are pleased to announce that they have entered into a Bid Implementation Agreement (BIA), pursuant to which Brightstar will acquire all of the issued ordinary shares and options in Linden via an unanimously recommended off-market scrip takeover offer (Offer).

Keep reading...Show less
Brightstar Resources

Brightstar Resources Limited (ASX: BTR) – Trading Halt

Description

The securities of Brightstar Resources Limited (‘BTR’) will be placed in trading halt at the request of BTR, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 27 March 2024 or when the announcement is released to the market.

Keep reading...Show less

Latest Press Releases

Related News

×