Precious Metals

Green River Gold Corp.    is pleased to provide an update on its Initial Phased Exploration Drill Program at the wholly owned Quesnel NickelCobaltTalc Project in British Columbia, Canada.Further to its news release of November 25, 2021, the Company is pleased to announce that since the drilling crew arrived on site, they have been drilling from talc outcroppings using a backpack drill. The experience of the ...

 Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to provide an update on its Initial Phased Exploration Drill Program at the wholly owned Quesnel NickelCobaltTalc Project in British Columbia, Canada.

Further to its news release of November 25, 2021, the Company is pleased to announce that since the drilling crew arrived on site, they have been drilling from talc outcroppings using a backpack drill. The experience of the drilling crew from Paradigm Drilling Ltd., combined with the soft nature of the talc mineralization has allowed the crew to drill several holes to depths of 20 meters.

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]

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 is to confirm the results of the drilling from the 1980's and to expand the footprint of the talc occurrence discovered at that time. Drilling short holes will determine the grade and quality of the talc exposures, which outcrops at multiple locations in the project area. The Company will also drill deeper holes to determine the vertical extent of the talc mineralization. Depending on the results of the initial drilling, the Company expects to undertake additional drilling throughout the winter to further determine the extent of the talc mineralization.

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.

Drilling with the backpack drill is continuing. To date, the core from the first five holes, totaling approximately 72 meters, has been transported to Quesnel and is in the process of being logged. From there it will be sent to the lab for assay. The following description of Drill hole D021-03 from Steve Kocsis, Qualified Person for the project, is indicative of what the early drilling results are showing.

"Drill hole DO21-03 was drilled at a 330° azimuth and -70° dip to a total depth of 16.76 m. From 0 to 13.4 m talc occurs in layers up to 12 cm thick and as brecciated fragments up to 2 cm wide. Talc makes up around 15% of the rock in this depth interval. From 13.4 to 15.85 talc occurs in layers up to 1.0 m thick and makes up around 80% of the rock in this depth interval. The rock was soft and washed away at depth interval 15.85 to 16.76 m and there was 0% core recovered. The soft rock was more than likely a high percentage of talc."

As successful as this drilling method has been, it is limited in its capabilities of recovering some friable formations. To date, our contractor has exceeded our expectations for core recovery considering the drilling method and ground conditions present.

Follow-up drilling with a larger drill rig is expected to begin in January. The Company will be able to explore potential talc mineralization to depths exceeding 100 meters versus the shallow exploration completed in the past and with the current round of drilling. The talc showing outcrops at several locations on the Company's claims, making drilling a relatively simple process and allowing for drilling throughout the winter.

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.

In addition to acquiring more knowledge of the talc occurrences on the Property, the Company intends to drill using the larger rig to gain more knowledge of the potential for nickel and cobalt in the same general area as the talc. The Company will be concentrating on known and potential new nickel and cobalt targets with the plan to continue drilling with larger RC/DD rigs in 2022.

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.

Kyle Townsend, Mine Manager for Green River Gold Corp. says; "The success of our modified backpack drilling technique is very encouraging. We have demonstrated our ability to obtain quality down hole data in a very cost effective manner while keeping our surface disturbance to almost nonexistent. As we move from the trial phase to the drilling phase, we are working to delineate the talc mineralization with enough data to confirm a mineral resource."

Perry Little, Green River Gold's President and CEO stated, "We are 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 mine plan. In addition to finding out more about the potential for a commercial talc deposit, the focus will be on nickel and cobalt. Preliminary metallurgical work completed in 1971 has suggested the presence of nickel sulfide or nickel alloy minerals. One focus in the initial phase of exploration is to prioritize the multiple Nickel/Cobalt targets within the project area for a follow-up RC/DD drill program and to expand the areas of mineralization in 2022."

Regional 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 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/107056

News Provided by Newsfile via QuoteMedia

Green River Gold

Green River Gold


Overview

The Cariboo gold district in British Columbia, Canada, was a world-class producer of gold, and site of the famous Cariboo Gold Rush between 1861 and 1867. The district produced approximately 3.8 million ounces of gold after 1874, divided roughly evenly between hard rock gold and placer gold production valued at C$50 million.

Today, the Cariboo gold district remains a prospective and mining-friendly region with excellent infrastructure. Interest in the region has been renewed with recent transactions including the acquisition of Barkerville Gold Mines, now held by Osisko Development Corp. (TSXV:ODV). Other notable names in the Cariboo gold district include Omineca Mining and Metals (TSXV:OMM) with its Wingdam Gold project, Imperial Metals' (TSE:III) Mount Polley mine and Taseko Mines' (TSX:TKO) Gibraltar mine. Mining companies with projects in the Cariboo gold district present investors with renewed discovery potential in a historically significant area.

According to Green River Gold (CSE:CCR) CEO Perry Little, "The hunt is on."

Green River Gold is exploring for gold, as well as nickel, cobalt and talc, in the historically-prolific Cariboo gold district. The company's highly prospective and potentially high-grade project feature excellent access to infrastructure, including roads, power and local talent.

The fully-owned Fontaine Lode Gold project spans 8,900 hectares and is located 12 kilometres from Barkerville which was the epicentre of the Cariboo Gold Rush in 1860. The Fontaine Lode Gold project is contiguous to Osisko's Cariboo Gold Project, which is anticipated to begin production in the latter half of 2023.

The Quesnel Nickel Cobalt Talc project is contiguous to the Fontaine Lode Gold project and is an early-stage project that spans approximately 2,219 hectares. The project has similar geological features to FPX Nickel's (TSXV:FPX) Decar Nickel District project, which some consider the third top nickel project in the world. Historic work on the Quesnel Nickel Cobalt Talc project suggest significant potential for all three minerals. Grab samples were taken in recent weeks and have been sent for assay. Assay results are expected by the end of November 2021.

The Kymar Silver project is a silver project that includes two mineral tenures spanning 1,440 hectares in Southeastern British Columbia. The project is located 28 kilometres west of Invermere in the Golden Mining Division in British Columbia. A historical bulk sample on Kymar Silver revealed high average grades of 2,000 g/t silver, 57 percent lead, 0.8 percent copper and 3.4 g/t gold. The property also features several past-producing artisanal mines.

Grab samples were gathered from the areas of several of the past producing artisanal mines in October 2021 and were sent to the lab for assay. Assay results are expected by late November 2021.

Green River Gold has strategic positioning in highly prospective geological areas near past-producing mines. The Fontaine Lode Gold project features similar geology to Osisko Development Corp.'s Cariboo Gold project which it borders. The Quesnel Nickel Cobalt Talc project also borders Omineca Mining and Metals' Wingdam Gold project.

In an interview, CEO Perry Little shared, "Every hole drilled and every bit of exploration done by Osisko, Omineca or Green River will lead to a greater understanding of the regional geology."

Currently, Green River Gold is conducting exploration activities on its properties including bedrock mapping, geochemical exploration, ground geophysics and backpack drilling. Green River Gold is also in the process of applying for permits to commence RC and diamond drilling on its properties. The company is committed to producing a NI 43-101 technical report in a timely manner.

Green River Gold is led by a highly experienced management team over 60 years of combined technical experience and over 30 years of capital market experience. CEO Perry Little has an impressive 28-year-long successful career with extensive experience in financing junior resource companies and trading in the public markets.

Green River Gold’s Company Highlights

  • Green River Gold's highly prospective and potentially high-grade projects feature excellent access to infrastructure, including roads, power and local labour talent.
  • The Fontaine Lode Gold project is a fully-owned gold project spanning 90 square kilometres with significant upside potential due to a lack of exploration.
  • The Quesnel Nickel Cobalt Talc project is an early-stage silver project that spans approximately 2,219 hectares.
  • The Kymar Silver project is a silver project spanning 1,440 hectares in Southeastern British Columbia with several past-producing mines on site.
  • The company's projects border Osisko Development Corp.'s Cariboo Gold and Omineca Mining and Metals' Wingdam Gold project.
  • Green River Gold is led by a highly experienced management team with over 60 years of combined technical experience and over 30 years of capital market experience.

Green River Gold’s Key Projects

Fontaine Lode Gold

The Fontaine Lode Gold project is a 100 percent-owned prospective gold project that includes placer and hard-rock tenures spanning 90 square kilometres in the historic Cariboo gold district in British Columbia, Canada. The project is located approximately 12 kilometres southwest of the historic Barkerville town which was the epicentre of the original Cariboo Gold Rush that started in 1860. The property straddles an 18-kilometres of length on the Quesnel Barkerville and Slide Mountain terranes.

From the 1970s to the 1980s, prospecting and sampling were conducted on the property. The Fontaine Lode Gold project features similar geology to Osisko Development Corp.'s Cariboo Gold project which it borders. The Cariboo Gold project has an indicated resource of 3.2 million ounces of gold grading 4.64 g/t gold and an inferred resource of 2.72 million ounces of gold grading 3.91 g/t gold.

Quesnel Nickel Cobalt Talc

The Quesnel Nickel Cobalt Talc project is an early-stage prospective silver project that includes 8 mineral claims spanning approximately 2,219 hectares in the Cariboo gold district in British Columbia, Canada. The project is located next to the Fontaine Gold project and has similar geological features to FPX Nickel's Decar Nickel District project, considered by some to be the third-top nickel project in the world. The Quesnel Nickel Cobalt Talc project borders Omineca Mining and Metals' Wingdam Gold project and is on trend with the Eureka Thrust which runs on the Wingdam project.

Historical drilling conducted on the project's nickel and talc anomalies as well as limited rock sampling and analyses suggest the potential for high grade nickel. The Quesnel Nickel Cobalt Talc project features surface outcrops of nickel, cobalt and talc.

Kymar Silver

The Kymar Silver project is a prospective silver project that includes mineral tenures spanning 1,440 hectares in the Cariboo gold district in British Columbia, Canada. The project is located 28 kilometres west of Invermere in the Golden Mining Division in British Columbia and along the southeast portion of Mount Catherine. Mineralization on the Kymar Silver project includes silver, lead, gold and zinc hosted in polymetallic veins within a zone along a normal fault. The polymetallic veins exist within the Purcell Supergroup strata, including the Mount Nelson and Dutch Creek formations.

The Kymar Silver project includes several past-producing artisanal mines. In 1926, a bulk sample from the property revealed average grades of 2,000 g/t silver, 57 percent lead, 0.8 percent copper and 3.4 g/t gold. Kymar Silver has six high-grade targets based on historical production, shafts and stockpiles and other workings. Grab samples from the areas of the old artisanal mines were taken in October 2021. Assay results are expected by the end of November 2021.

Green River Gold’s Management Team

Perry Little - President, CEO and Director

Perry Little, B.A. (Econ), CIM, has extensive experience with junior resource company financing and with the public markets in general. His experience was gained throughout a 28-year career in the investment industry. During his career, Perry held a variety of positions with large Canadian investment firms. He retired from his position as a Senior Investment Advisor with Canaccord Genuity Wealth Management in 2016 after 14 years with the company. Before his involvement in the investment industry, Perry spent 9 years in the field of public accounting acquiring significant experience and education in the areas of accounting, taxation, and auditing. Perry is currently the President and CEO of a private gold mining and manufacturing enterprise and has also served on the Board of Directors for two charitable organizations and a private real estate development company.

Shawn Stockdale - CFO, Secretary and Director

Shawn Stockdale is a Chartered Accountant who has operated his public accounting practice for the past 12 years. Before establishing his firm, he spent 14 years with larger C.A. firms. During this time, Shawn completed the in-depth tax course. He has experience serving clients from a wide variety of industries. Shawn holds a B.Comm. from the University of Lethbridge. He is also the Secretary/Treasurer of a private gold mining enterprise.

Rick James Watters - Director

Rick Watters is a professional engineer and the current president of WLBS Enterprises Inc. which is an independent engineering consulting company. Watters holds a P.Eng. in Metallurgical Engineering from the University of Alberta. He has over 35 years of experience with increasing responsibility including directing the development of oil and gas facilities. His comprehensive career includes 3 years with ILF Consulting as the vice president of projects and engineering. Watters also spent several years with Enbridge and TransCanada Pipelines as well as 23 years with Cenovus and its predecessor companies. Watters has also served on the board of directors of two non-profit organizations –– the Construction Owners Association of Alberta and the Southern Alberta Freestyle Ski Club. Watters has extensive knowledge and experience in construction, stakeholder relations, regulatory and environmental requirements, commercial evaluations, estimating, scheduling, procurement, expediting, contracts administration, facility design, pipeline design, facilities management and metallurgy.

David Upright - Director

David Upright is the current director of sales, inventory and operations planning at Champion Petfoods. Champion Petfoods is a local manufacturer of premium pet food serving pet lovers around the globe. His career includes 25 years as vice president of information services with The Brick and 4 years running a private consulting firm that specializes in information technology and continuous improvement. Upright holds a B.Sc. in Computing Science and an M.B.A. from the University of Alberta. Upright also serves on the board of directors for a foundation that serves Oakhill Boys Ranch.

Vern Kibblewhite - Director

Vern Kibblewhite recently retired from his position as superintendent with PCL Industrial Constructors Inc. which is one of the largest construction companies in North America. His 23 years at PCL included 5 years in charge of their fabrication facility in Nisku, Alberta which was the largest fabrication shop in Canada at the time. Kibblewhite also held the position of maintenance supervisor for Epcor's 600MW coal-fired power plant. Kibblewhite studied Power Engineering at Southern Alberta Institute of Technology and holds a Gas Fitter ticket, Plumbing ticket, and Steamfitter ticket. He is a former member of the board of directors of West Parkland Gas Co-op.

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