Highlights include: 0.85 g/t gold equivalent over 4.5 meters and 1.85 g/t gold equivalent over 10.7 meters including 3.61 g/t gold equivalent over 4.6 meters in hole CR-22-019
Gold equivalent based on
We believe that these multiple drill intercepts of +2 g/t and +1 g/t gold equivalent will enable us to extend our
Our future drilling programs will aim to further extend this high-grade gold mineralization in the three parallel resource zones located in a very large 1100x600 meters CSAMT geophysical anomaly area, which offers exciting expansion opportunities'.
The discovery hole at Charlie Ross was drilled in 2021, and after only 22 holes, GRC was able to identify a new resource which was reported in its latest resource estimate.
The positive drill results from 19 additional holes reported in 2022-2023 demonstrate GRC's ability to expand gold mineralization in all three zones of the Charlie Ross resource and to provide higher-grade intercepts than previously seen.
The Charlie Ross target is highlighted by a significant CSAMT geophysical anomaly that extends over an 1100x600 meters area on the edge of the Gold Springs caldera complex.
Gold is controlled by north-south trending structural corridors with three parallel zones: Western, Central and Eastern, each hosting a portion of the current resource, and each expanded by these significant gold mineralization results.
About
Contact:
President and CEO
Email: acanton@goldspringsresource.com
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 herein may include words such as 'creating', 'believe', 'would', 'continue', 'will', 'promising', 'should', and similar expressions and includes the statement relating to the significant potential of the Charlie Ross deposit. 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.sedarplus.ca. 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
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