GGL Resources Corp. Commences Ground Geophysical Surveys at the Stein Diamond Project
29.07.2019 | Accesswire
VANCOUVER, July 29, 2019 - GGL Resources Corp. (TSX-V: GGL) (“GGL” or the “Company”) is pleased to announce that ground geophysical surveying has commenced on the Stein diamond project, Nunavut. The Company has the Option to earn a 60% undivided interest in Arctic Star Exploration Corp.’s (“Arctic Star”) wholly owned Stein diamond project by discovering in situ kimberlite.The Stein diamond property (“Stein”) consists of 4 contiguous prospecting permits covering an area of 1,065 square kilometers on the Southern Boothia Peninsula, 45 kilometers from tide water. It is located 85 kilometers northwest of the community of Taloyoak, Nunavut which is serviced daily by commercial flights and seasonally by barge.
Stein is a permitted, advanced diamond exploration project having the benefit of numerous successive exploration campaigns and over $1.5 million in previous expenditures. Historical heavy mineral sampling traced kimberlitic indicator minerals up-ice to a potential source area. The indicator mineral suite contains grains that are indicative of diamond inclusion chemistry showing high chrome, low calcium G10D pyrope garnets. Detailed airborne magnetic surveys flown over this potential source area identified numerous high priority targets with signatures similar in character to kimberlites found elsewhere in Canada’s north. GGL is conducting ground-based magnetic surveys over priority airborne targets in preparation for future drill testing. No drill testing has been conducted on the project to date.
The Stein project is further complimented with the existence of a major structural feature identified on regional government airborne magnetic surveys which is greater than 100 kilometers in length and traverses the target area. In fields elsewhere, kimberlites can be geologically observed exploiting larger structural features, utilizing them as conduits for emplacement.
The nearest known kimberlite discovery to Stein is over 230 kilometers to the southeast and perpendicular to the regional ice flow direction. The distance and direction greatly reduces the potential for the Stein mineral grains being an overprint from this field.
The Company is pleased to be partnered with Arctic Star on this compelling diamond project that is on the cusp of potentially delivering a new, yet undiscovered Canadian kimberlite field.
The technical information in this news release has been approved by David Kelsch, P.Geo, President of GGL Resources Corp. and a qualified person for the purposes of National Instrument 43-101.
About GGL Resources Corp.
GGL is a Canadian-based junior exploration company focused on diamond exploration in Canada’s north with key projects in Nunavut as well as the Lac de Gras diamond district in the Northwest Territories. Lac de Gras is home to Canada’s first two diamond mines, the world class Diavik and Ekati mines discovered in the 1990’s. In addition to GGL’s key focus of diamond exploration, it holds diamond Royalties on mineral leases in close proximity to the Gahcho Kué diamond mine in the Northwest Territories. The Company also holds in portfolio several encouraging base metal and gold projects in British Columbia and the Northwest Territories.
ON BEHALF OF THE BOARD
“David Kelsch”
David Kelsch. President, Chief Operations Officer and Director
For further information concerning GGL Resources Corp. or its various exploration projects please visit our website at www.gglresourcescorp.com or contact:
Investor Inquiries
GGL Resources Corp.
Richard Drechsler, Corporate Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
r.drechsler@gglresourcescorp.com
Corporate Information
Linda Knight, Corporate Secretary
Tel: (604) 688-0546
info@gglresourcescorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
SOURCE: GGL Resources Corp.