Base Metals

Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to announce that it has received the most recent batch of assay results and is now able to present the summary of results from the first shallow hole assayed on its Quesnel NickelMagnesiumTalc Project. The hole was one of nine shallow holes drilled directly from surface from a talc outcropping. Assay results are still pending for the other eight shallow holes. XRF gun samples from all nine holes were very similar.

The following table presents the assay results for each of the one-meter intervals that were sent for assay from the 15-meter hole known as Do-21-06.

Sample NumberSample Depth
from Surface
Magnesium (%) Nickel ppm Chromium ppm
S790589 0 to 1 Meter17.80%17501880
S790591 1 to 2 Meters18.10%18701760
S790592 2 to 3 Meters 17.95%1800 1790
S7905933 to 4 Meters19.20% 2160 1835
S7905944 to 5 Meters18.15% 1840 1785
S7905955 to 6 Meters17.70% 1870 1290
S7905966 to 7 Meters18.05% 1890 1485
S7905977 to 8 Meters18.40% 1980 1485
S7905988 to 9 Meters17.95% 1960 1545
S790599 9 to 10 Meters17.60% 1670 1150
S790601 10 to 11 Meters17.45% 16951465
S790602 11 to 12 Meters17.65% 16751550
S790603 12 to 13 Meters16.70% 17651560
S790904 13 to 14 Meters16.65% 16001545
5790605 14 to 15 Meters 17.65%16251465
Average For 15 Meters 17.80% 18101573-

 

The map that follows shows the locations of the nine shallow drill holes. The Company will be drilling three longer drill holes in the same vicinity using a portable Winkie Drill capable of reaching depths over 100 meters as soon as ground access conditions allow. That is expected to occur within the next couple of weeks. The map also shows the area that will be covered by a new UAV-MAG survey which has been commissioned and which is due to commence in early May.

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Figure 1

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The talc occurrence that is host to the current drilling program has been traced over a length of 1.4 kilometers along the magnetic anomaly by prior exploration. (ARIS Assessment Report 15729) The depth of the talc occurrence is unknown. The previous holes that were drilled in the 1980's only went to 17 meters. The holes drilled in Green River's first round of drilling were also shallow holes. All holes ended in mineralization and the amount of talc appears to increase at depth.

Green River's President and CEO, Perry Little comments, "We are thrilled to be moving forward with the next phase of exploration on the Project. The excitement surrounding nickel and other strategic minerals like magnesium is continuing to build, prices are strong, and recent announcements of support for the industry from the Federal Government are very encouraging. The recent budget announced $3.8 billion in support, on a cash basis, starting in 2022-23 to implement Canada's first Critical Minerals Strategy. Combined with the introduction of a new 30% Critical Mineral Exploration Tax Credit, the timing of our exploration program could hardly be better. Our target area has some size to it and the early results are very encouraging, especially starting right from surface."

The following map indicates the potential area of the magnetic anomaly, based on historical work and knowledge of the regional faults and existing magnetic imagery. The potential area that Green River is dealing with may exceed 20 square kilometers as indicated on the map. Additional drilling and exploration plans are being developed and will be finalized based on the results of the deeper holes to be drilled in the next few weeks and the results of the additional UAV-MAG survey.

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Figure 2

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

The elevated elements are hosted in serpentinized ultramafic rocks belonging to the Slide Mountain Terrane.

Quesnel Nickel/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, we will be further investigating the other three known areas of talc alteration for the presence of nickel this season.

Regional Exploration Plan:

Additionally, there will be some upcoming exploration plans for the Fontaine Lode Gold Project, which is contiguous to the Quesnel Nickel Project and is also contiguous to Osisko Development Corp.'s Cariboo Gold Project. Plans are also being made for exploration on the Company's Kymar Silver Project in southeast B.C. later in the Summer.

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/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 1,440 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 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/120993

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