Progress Update for Goldrea's Cannonball Project in BC's "Golden Triangle"

VANCOUVER, BC / ACCESSWIRE / May 9, 2023 / Goldrea Resources Corp. (CSE:GOR)(Frankfurt:GOJ)(OTC PINK:GORAF)("Goldrea" or the "Company") is pleased to report on work performed in 2022 on two of the four copper-gold targets that have been identified on the Company's wholly-owned mineral claims (the "Cannonball Project" or the "Property") in British Columbia's prolific "Golden Triangle" area.

Field work carried out by independent contractors between 2017 and 2021 identified two significant porphyry copper prospects, known as the Cannonball and Juice Box Targets and two high-grade gold prospects, known as the Adrian Vein and the Joy Zone. The interpretive work completed by independent geophysical consultants during this time established that these prospects are associated with multiple subcircular magnetic anomalies within an area covering more than 10 square kilometers. All of the known prospects exhibit widespread copper and gold mineralization at surface and during the 2021 field season, a 3DIP survey completed across the Juice Box and Adrian Targets identified significant chargeability anomalies which warrant expanding the survey and drill testing.

The Company has reported significant historic and recent grab sample assays which confirm the presence of copper and gold mineralization at all of the known prospects. The map below shows the locations of the known prospects, the locations of historic and recent grab samples which exhibit significant copper and gold grades. Several grab samples collected from the Adrian Vein and Joy Zone returned gold grades ranging from several tens of grams to more than 400 grams per tonne gold.

Foto: Accesswire

The following photograph of mineralization at the Juice Box Target was published in a Goldrea press release dated November 2, 2021. The Juice Box Target consists of widespread malachite staining (copper mineralization) with a co-incident chargeability anomaly localized along the southwestern margin of a circular magnetic feature. Full photos can be found at www.goldrea.com.

Foto: Accesswire

The 2022 work program consisted of a site visit to the Juice Box and Adrian Vein targets by Ty Magee from Axiom Exploration Group. While examining the Juice Box and collecting samples for whole rock analysis and age dating, Mr. Magee observed pyrite-chalcopyrite stringers within the Juice Box Target. A grab sample of the mineralization (sample 227429) returned 0.047 gold, 16.4 g/t silver and 4.76% copper. A grab sample collected from the Adrian Vein Target (sample 227430) returned a gold assay of 69.2 g/t gold, 20.1 g/t silver and 3.90% copper. The rock samples from the 2022 field program were submitted to the ALS Global laboratory in North Vancouver for analysis and results were consistent with previous sampling programs.