Green River Gold Corp. Airborne Survey Reveals Magnetic Anomalies at the Fontaine Lode Gold Project
EDMONTON, August 31, 2021 - Green River Gold Corp. (the "Company" or "Green River") (CSE:CCR) (CNSX:CCR.CN) is pleased to announce that PKMB Consultants ("PKMB") has completed further processing and interpretations of the airborne magnetic survey data, announced on June 1st , 2021 (the "Survey"), over the Company's 100% owned Fontaine Lode Gold and Quesnel Nickel properties in Central British Columbia (the "Properties"). The survey has outlined distinctive magnetic features that will assist the exploration targeting in the upcoming programs. The Survey identified magnetic high anomalies in the Slide Mountain Terrane Ultramafic Complex and distinctive fault contact boundaries, which are prospective for hydrothermal systems and mineral occurrences. The survey also identified magnetic anomalies in the Barkerville Terrane, which will be investigated by a bedrock mapping and sampling program.
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Figure 1 Fontaine Lode Gold, Total Magnetic Intensity Survey Results with Interpreted Fault Boundaries
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Figure 2 Fontaine Lode Gold, Contact Occurrence Density Map
Perry Little, President and CEO states, "Knowing that the Properties overlay the Eureka Fault and Keithley Thrust we were anticipating magnetic anomalies in the areas of contact. The initial interpretation of the results would suggest that we have located the anomalies we were anticipating. On the Quesnel Nickel project, approximately 4 km North West of the Fontaine Lode Gold Project, we were pleasantly surprised by the size of the magnetic anomaly discovered and we will be following up with a Time-Domain Electromagnetic ("TDEM") survey shortly to define potential drill targets."
Green River's Mine Manager, Kyle Townsend, explains, "We want to take a data driven approach for our exploration programs. Now that we have completed the airborne magnetic survey and initial interpretation of the results, we have increased confidence in our proposed exploration targets. We are very excited to receive further interpretation of the data gathered so far and continue with exploration later this year. Based on interpretation of the magnetic survey data, we are looking at preforming bedrock mapping and strategic follow-up geophysical surveys in areas of interest on the Fontaine Lode Gold Property. As well, we intend to complete a TDEM survey over a significant magnetic anomaly discovered on the Quesnel Nickel Property to determine depth, azimuth, and dip of any conductive material. This will allow us to create final drillhole locations and pierce point estimates for a possible upcoming drilling program."
The Company's Cariboo hard rock projects, the Quesnel Nickel Project and the Fontaine Lode Gold Project, are located in Central British Columbia, approximately 50 kilometres East of the City of Quesnel. Both properties are easily accessible from the well maintained 1300 (Swift River) Forest Service Road which is currently undergoing a major realignment and upgrades. The properties are located approximately 20 kilometres along the 1300 Forest Service Road which runs directly off the paved Barkerville Highway (Highway 26).
Quesnel is home to an airport with daily flights to Vancouver and Edmonton, a Railway and Highway 97. Green River's neighbour to the North, Osisko Development Corp. has proposed a high voltage power line to service their Cariboo Gold Project. The proposed line would run within 15 kilometres of the Quesnel Nickel Project. Quesnel and the surrounding area are home to a skilled workforce in close proximity to our projects which greatly reduces the Company's cost of exploration. Green River's shop and retail facility in Quesnel and full-time employees provide added efficiency in staging our exploration activities.
About Green River Gold Corp.
Green River Gold Corp. acquires and develops placer mining claims and mineral claims. The Company controls a 100% interest in the flagship Fontaine Gold Project. The 8,900-hectare Fontaine Gold Project is situated 12 kilometers southwest of Barkerville. The property includes both placer and hard-rock tenures. The 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 Company controls a 100% interest in the 1,214-hectare Kymar Silver Project, located 28 kilometers West of Invermere, British Columbia.
The Company controls a 100% interest in placer mining projects on the Little Swift River, Sovereign Creek, Willow River, and Swift River. The Company rents placer claims to placer gold miners for cash rent, in lieu of a royalty.
Green River Gold Corp. also distributes equipment and supplies for the placer mining industry and is a Limited Partner in the Green River Gold Trading Limited Partnership, which purchases raw placer gold from miners. Those operations and mining projects are based out of a 6,000 square foot office, retail, and manufacturing facility in the heart of the Cariboo Mining District in Quesnel, British Columbia.
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.
For more information contact:
Mr. Perry Little
President and Chief Executive Officer
780-993-2193
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 assumption. 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.
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