REPEAT - Gold Lion Mobilizes Exploration Crews to its Robber Gulch Property
VANCOUVER, British Columbia, April 29, 2020 (GLOBE NEWSWIRE) -- Gold Lion Resources Inc. (“Gold Lion” or the “Company”)
(CSE: GL) (OTC: GLIOF) (FWB: 2BC) is pleased to announce that it has mobilized exploration crews to its Robber Gulch gold Property (“Robber Gulch” or the
“Property”) located near Burley, Idaho. The Property is under option from EMX Royalty Corp. A geochemical sampling program (>1200 soil samples) is being conducted over an area
of prospective Pennsylvanian-Permian calcareous siltstones known as the Oquirrh Formation, which is host to gold mineralization 90 kilometers to the east on Liberty Gold’s Black Pine gold
project1. The Oquirrh Formation is exposed within an erosional window of post-mineral volcanic rocks on Robber Gulch and to the best of the Company’s knowledge the Property has not had
any prior soil geochemical surveys completed on it.
The only known historic exploration on the Property was four shallow (100-125m) drill holes from the mid-1980s. AC-4, the final drill hole from that program, returned 18.3m of 0.23 g/t Au (from 24.4m to 42.7m) and 24.4m of 0.56 g/t Au (from 54.8m to 79.2m), including, 6.1m of 1.25 g/t Au (from 64.0m to 70.1m) in oxide mineralization (true thickness unknown)2. The hole was terminated in gold mineralization at 345 feet (105 meters). Despite recommendations at the time for a grid of vertical RC drill holes surrounding AC-4’s encouraging result, no follow-up drilling was carried out.
The primary target at Robber Gulch is Carlin-style oxide gold mineralization. A reconnaissance program by EMX Royalty Corp., in 2019 identified broad areas of alteration surrounding several mineralized north-south fault structures cutting limy siltstone, sandstone and carbonate units. The alteration is zoned outwards from the mineralized faults with jasperoid developed along the structures, grading outwards to strong silicification, brecciation and quartz veining to decalcified limestone on the outer halo.
Oliver Friesen, CEO of Gold Lion, stated: “We are very pleased to be getting started on our 2020 exploration season in Idaho. The Robber Gulch Property has not seen modern exploration, and we look forward to conducting systematic field programs and following up on the encouraging historic drill results. Due to the quick permitting timelines on BLM land, we anticipate updating the market with plans for a second phase of work, potentially involving trenching or RC drilling once the Phase I results have been received and compiled.”
Maps for the Project can be found on the Company’s website at the following URL:
The Company has reviewed all provincial and state recommended COVID travel precautions and have implemented a stringent COVID response plan to ensure crew safety during the upcoming work program at Robber Gulch.
Agnes Koffyberg, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data in this news release.
About Gold Lion Resources Inc.
Gold Lion Resources Inc. is a mineral exploration company actively involved in the exploration of its precious metal focused portfolio including the South Orogrande, Erikson Ridge, Robber Gulch, Cuteye and the Fairview Properties located in Idaho and British Columbia. For more information please visit: https://goldlionresources.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
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Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for Gold Lion Resources described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.
1 Black Pine Mine 43-101 Technical Report on the Black Pine Gold Project, Cassia County, Idaho. Prepared by MDA for Liberty Gold Corp. 9/7/2018. Historic production: pg. 27.
2 Internal Report on Artesian City Project, Cassia County, Idaho. 1986. Exvenco Resources Inc.