Vancouver, British Columbia— Gold Springs Resource Corp. (TSX: GRC, OTCQB: GRCAF) (the “Company” or “GRC”), has completed the first 6 holes of the 2022 drilling program around the South Jumbo resource on its large Gold Springs project located in USA, on the border of Nevada and Utah, one of the best mining jurisdictions in the world.
Randall Moore, Executive Vice President of Exploration, stated: “These first 6 holes at South Jumbo are designed to expand the resource to the west and at depth, where hole E-21-012 intersected 5.37 g/t gold equivalent over 19.8 meters at the bottom of the hole. All 6 holes have hit veins and zones of stockwork veins and breccia development which are favorable for gold mineralization. Samples from these holes have been delivered to the laboratory for assay and we are expecting the results in the coming few weeks. We have planned 6 additional holes at South Jumbo and thereafter the RC drill will move to Charlie Ross, one of the 2021 discoveries. Our objective there is to further expand the gold systems we found, which extends over a 400-meter-long zone and remains open both along strike and at depth. In addition, our 2021 drilling identified two potential parallel zones of gold mineralization which will be explored this year”.
Gold equivalent based on US$1,800/oz gold and US$25/oz silver. For further information on the above the results, please refer to Company’s news releases dated July 5, 2021 and October 19, 2021.
Drill Hole Table
The resource update based on the 2021 drilling is expected by the end of May 2022.
A second RC drill will arrive in early June and will be deployed at White Point and Homestake, two of the new discoveries located on the Nevada portion of the project.
The ground based CSAMT geophysical survey covering most of our 33 targets is scheduled to start in early July.
The Qualified Person on the Gold Springs Project is Randall Moore, Executive Vice President of Exploration for Gold Springs Resource Corp. and he has reviewed and approved the scientific and technical content of this press release.
About Gold Springs Resource Corp.
Gold Springs Resource Corp. (TSX: GRC and OTCQB: GRCAF) is focused on the exploration and expansion of the gold and silver resources of its Gold Springs project located on the border of Nevada and Utah, USA. The project is situated in the prolific Great Basin of Western USA, one of the best mining jurisdictions in the world.
Gold Springs Resource Corp. Contact:
Antonio Canton, President and CEO
Forward Looking Statements
Certain statements contained herein constitute “forward-looking information” under applicable Canadian securities laws (“forward-looking statements”). Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as “creating”, “believe”, “would”, “continue”, “will”, “promising”, “should”, and similar expressions, and include the anticipated timing of completion of the resource update and of the results of the assays for the recently completed drilling. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, risks of the mineral exploration industry which may affect the advancement of the Gold Springs project, including possible variations in mineral resources, grade, recovery rates, metal prices, capital and operating costs, and the application of taxes; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated, changes in project parameters, including water requirements for operations, as plans continue to be refined; regulatory, environmental and other risks of the mining industry more fully described in the Company’s Annual Information Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the continuing support for mining by local governments in Nevada and Utah; the availability of equipment and qualified personnel to advance the Gold Springs project; execution of the Company’s existing plans and further exploration and development programs for Gold Springs, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs.
Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this press release describe the Company’s expectations as of the date hereof.