GGL Discovers a Copper-Molybdenum-Gold Porphyry at its Gold Point Project, Nevada

VANCOUVER, BC / ACCESSWIRE / July 12, 2023 / GGL Resources Corp. (TSXV:GGL) ("GGL" or the "Company") announces the discovery of a previously unrecognized copper-molybdenum-gold porphyry system at its road-accessible Gold Point Project in the Walker Lane Trend of Western Nevada. The porphyry target, referred to as Le Champ De Gold Point ("Le Champ"), was first identified through routine contour soil sampling late last year and has since been better defined by additional soil and rock sampling, helicopter-borne magnetic and radiometric surveys and reconnaissance-scale geological mapping and prospecting.

Le Champ is located about 3.5 km west of the gold-rich veins that have been the focus of historical exploration at Gold Point. The porphyry target lies within the Jurassic-age, Sylvania Granitic Complex. This pluton is similar in age to intrusions that host large porphyry systems in the Yerington district of Walker Lane, 249 km to the northwest. The best-known deposits in the Yerington District are the former Yerington Mine, which was operated by Anaconda, and the Ann Mason deposit owned by Hudbay Minerals.

"GGL feels that this discovery has very important implications for the potential economics of the Gold Point Project" states CEO Doug Eaton. "The possibility of a large porphyry deposit adds a whole new dimension to our exploration efforts and builds on the success of our previous work to evaluate the high-grade veins. GGL expects to be active on both fronts in the coming months."

Foto: Accesswire

Contour soil sampling has identified a number of areas of anomalous copper and molybdenum associated with strongly altered granodiorite. Peak values are located near large talus trains containing highly fractured and pitted rocks coated with goethite, limonite and jarosite. The strongest string of samples yielded molybdenum between 22 ppm and 975 ppm and copper ranging from 48 ppm to 300 ppm, over a length of 480 m.

Foto: Accesswire

Rocks in the Le Champ area have been oxidized and leached of mobile metals as a result of intense and long-lived surface weathering. The depth of the leached cap at Le Champ is not known, however oxidation at some of the veins in the Gold Point district extends to more than 270 m below surface. Numerous rock samples from Le Champ have returned strongly elevated molybdenum values ranging from 200 ppm to 407 ppm. Peak values for other metals include 713 ppm copper, 0.28 g/t gold and 3.91 g/t silver. Abundant malachite and azurite are found locally in fringing veins located immediately north of the porphyry target. Samples from these veins returned 0.04% to 6.3% copper, 3 ppm to 6,820 ppm molybdenum and 0.01 g/t to 3.45 g/t gold.