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Green River Gold Corp. Achieves XRF Results Averaging 0.197% Nickel Beginning at Surface in the Initial Hole Drilled on the Deep Purple Target at Quesnel

27.06.2022  |  Newsfile

Edmonton, June 27, 2022 - Green River Gold Corp. (CSE:CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to update the progress at the 2022 exploration program at its Quesnel Nickel/Magnesium/Talc project, located 40 kilometers from the City of Quesnel, British Columbia, in the prolific Cariboo Mining District.

Backpack diamond core drilling is underway at the one square kilometer outcropping known as the Deep Purple Target at the Company's Quesnel Nickel/Magnesium/Talc project. This drilling program will focus on the expansion of mineralization at the Deep Purple Target, near to where the 2021 maiden exploration drilling discovered broad intervals of elevated Nickel concentrations.

The first hole (Hole DD-22-05) is being drilled 420 meters north and closer to the center of the magnetic anomaly than the holes drilled in 2021. The hole has been drilled 11 meters deep so far and results from XRF testing show elevated nickel and chromium concentrations starting at surface, with nickel readings averaging 0.197% and chromium readings averaging 0.136%. These early readings are considerably higher than the XRF readings and the final assay results taken from the nine holes drilled in 2021. The XRF readings on those nine holes averaged 0.107% nickel and 0.116% chromium. Actual assay results from 2021 are shown in the table following the maps. Thus far, the material being drilled appears to consist of significant amounts of talc, somewhat similar to what was found in the holes drilled in 2021.

Perry Little, Green River's President and CEO, states, "We are very excited to see the higher nickel and chromium results in the XRF numbers so far. We were pleased with the results from the earlier drilling and these results represent a significant improvement over those earlier results. The UAV-MAG survey steered us toward this large outcropping and thus far, following those directions appear to be paying off. It is also encouraging to see that we still have this amount of talc in the drill core so far from the original drilling location. The combined economics of nickel and talc in one location are quite compelling."

The first phase of this year's backpack drilling program will consist of 10-12 holes, stepping out meaningfully up to 500 meters north and 2 km southeast, along the outcrop-defined target area. This year's hole locations were selected by using information from the 2021 drill results, ground magnetics, outcrop mapping, and outcrop sample Geochem and assay result. This year's step-out drilling at the Deep Purple Target is planned to build on the successful 2021 maiden exploration drill results.

The following table shows the meter-by-meter XRF results of Hole DD-22-05 from surface to a depth of 11 meters. Drilling is continuing and more holes are to be drilled immediately.

Hole ID DD-22-05
Easting 574694
Northing 5872438
NAD 83 UTM Zone 10
Measurement Unit Average Grade %
Depth (M) Ni Cr
0 to 1.0 meter 0.219 0.075
1.1 to 2.0 meters 0.204 0.105
2.1 to 3.0 meters 0.185 0.164
3.1 to 4.0 meters 0.160 0.159
4.1 to 5.0 meters 0.179 0.131
5.1 to 6.0 meters 0.167 0.145
6.1 to 7.0 meters 0.175 0.164
7.1 to 8.0 meters 0.355 0.154
8.1 to 9.0 meters 0.165 0.146
9.1 to 10.0 meters 0.163 0.111
10.1 to 10.9 meters 0.191 0.152



Grade Average 0.197 0.136

Note: The XRF data is taken as point values and will not represent the true grade of the samples assayed. The elemental data is highly dependent on the location of which the beam intersects the rock. The device used to take the data points is an Olympus Vanta C Series handheld X-ray fluorescence (XRF) and produces a beam spot diameter of up to 3mm. It is designed to achieve laboratory-quality results in the field and provides rapid and accurate elemental analysis and testing.


Figure 1 Outcropping and Drill Location

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7403/129088_e3f29683b42ac83f_002full.jpg


Figure 2 Outcropping and Drilling Locations

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7403/129088_e3f29683b42ac83f_003full.jpg

In early July, the geological consulting company, Fargo Exploration Ltd., will conduct a series of geochemical sampling programs, including a soil sampling survey. The soil sampling grid has been set up with a 100-meter by 100-meter interval on the Deep Purple intensive magnetic anomaly. During the sampling program, exposed bedrock will be recorded and sampled. The director of Fargo Exploration, Tyler Tian, comments; "The soil sampling survey will help us understand the minerals that cause the strong magnetic anomaly and the mobility of minerals. It will benefit us to generate new drilling targets."

Kyle Townsend, Mine Manager for Green River Gold Corp. comments; "Given the positive 2021 maiden drill results and the size of the outcrop-defined target, we are very excited to test the expansion of the new discovery at the Deep Purple Target."


Figure 3 Soil Sampling Grid Outline

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/7403/129088_e3f29683b42ac83f_004full.jpg

The maiden 2021 exploration drilling program consisted of 9 shallow holes drilled over exposed ultramafic rocks. These discovery holes returned broad intervals of Nickel and Magnesium mineralization. Assay results from the first 6 of those holes have been received and are presented in the table below as averages along the entire length of each drill hole.

Hole Number Depth (M)
Magnesium (%)
Nickel (%)
Chromium (%)
Do-21-01 15.24 15.23% 0.1465 0.1386
Do-21-02 14.00 15.27% 0.1439 0.1579
Do-21-03 16.76 15.27% 0.1448 0.1703
Do-21-04 18.29 15.22% 0.1441 0.1624
Do-21-05 17.68 15.62% 0.1490 0.1629
Do-21-06 16.15 17.80% 0.1810 0.1573





Average of 6 holes
15.73% 0.1515 0.1582

Quesnel Nickel/Magnesium/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.

Historical records indicate four widely separated areas of talc alteration along a 1.4- kilometer trend. Having discovered the presence of nickel in the talc mineralization in the area of Do-Do- Creek, the Company will be further investigating the other three known areas of talc alteration for the presence of nickel this season.

Fontaine Lode Gold Exploration Plan:

Last year, the UAV magnetic survey identified many anomalies in the area. This year, the exploration crew will take soil and rock samples from the area of those magnetic anomaly locations. Meanwhile, the vein structures, outcroppings, and mineral showings will be recorded and mapped. A backpack drill will be utilized to execute strategic drilling on the outcrops to investigate for occurrences of mineralization. The project geologist will summarize the previous historical mining activities and exploration records and plotting all the records on map, to verify the historical records during the 2022 field season.

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/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.

The Fontaine and Quesnel properties straddle an 18 km 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 1,625 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 assumptions. 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129088


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