VANCOUVER, BC, April 20,
2022 /CNW/ - Gold Line Resources
Ltd. (TSXV: GLDL) ("Gold Line" or the "Company") is
pleased to provide further results from its base of till/top of
bedrock ("BoT/ToB") drill program at its Paubäcken gold project in
the Gold Line Mineral Belt in north central Sweden. 2021 BoT/ToB drilling and follow-up
diamond drilling confirm structural and geophysical model and
identify multiple mineralized corridors along second order
structure network.
Highlights – Paubäcken
Target
- Final 117 additional BoT/ToB holes from fall 2021 drill program
at Aida, Belle and Harpsund target areas
- Follow up results at Aida target extended Au and pathfinder
anomalism 500 metres (m) north along the shear zone, and discovered
new Au and pathfinder anomaly on a sub parallel structure.
- Initial BoT testing of Harpsund Ionic Leach till anomaly show
elevated gold and additional pathfinder indications.
- In total 7.7% of bedrock samples from the 2021 BoT/ToB drilling
program showed anomalous Au values over 0.1 ppm and elevated
pathfinder anomalism coincident with interpreted structural
corridors and gold in till anomalism
- Results from final 2 drillhole results from maiden 5 hole
670m diamond drilling program at Aida
target (PAU21004 and PAU21005)
-
- PAU21004 intercepted the structure, alteration, geology
observed in discovery hole PAU21003 (see Gold Line News Release
dated December 27, 2021) and
encountered two zones of broad low grade Au mineralization
- PAU21005 was situated several tens of metres east of the
structural trend and did not incept the targeted structural
corridor
Paubäcken Property
Previous highlights from Paubacken BoT/ToB drilling included a
3-meter sample of bedrock with 3.99 grams per tonne (g/t) gold (Au)
and a 1.5 metre sample with 1.425 g/t Au at the Aida target,
demonstrating the presence of a blind previously unrecognized
bedrock-hosted gold mineralization in the area. Gold Line Resources
continued to explore several targets in the Paubäcken project area
with additional BoT/ToB sampling in early fall 2021 and
subsequently commenced a maiden diamond drill program at the Aida
target in late fall 2021. Diamond drilling of the 1.43 g/t ToB
target resulted in a 22.5 m intercept
of 2.4 g/t Au including 9.5 m of 4.6
g/t Au (see Gold Line News Release dated December 27, 2021). The mineralization is mainly
hosted by calcsilicate-altered amphibolite within a large shear
corridor.
Previously unreleased drillholes PAU21004 and PAU21005 were
drilled southeast along strike of PAU21003. Although significant
mineralization was not encountered, PAU21004 intercepted similar
structure, alteration, and geology. Two zones of low-grade
mineralization correlate to the zone encountered in PAU21003
situated 60m along strike to the
north. PAU21005 was situated 220 m
southeast of PAU21004 parallel to the main structural trend and did
not intercept same geology or structure. In total 670 m were drilled in 5 diamond drill holes. See
Figure 1.
In addition to BoT/ToB results previously announced in Gold Line
News Release November 4th,
2021, the Company has now received all BoT/ToB assay results from
its 2021 campaign at the Harpsund, Belle and Aida targets:
- All targets occur along identified structural features
identified from magnetics data and BoT geology, with the anomalism
broadly related to zones of structural deformation.
- Harpsun Target: New BoT/ToB results show a cluster of 8
anomalous bedrock samples of >0.1 g/t Au (21% of the holes) and
elevated As anomalism (figure 1). The drill program was
designed to test a large Ionic Leach till anomaly and large area of
coincident demagnetization located in an interpreted flexure within
the Harpsund structural corridor. These results correspond to a
~400 m portion of a 1900 m gold and
associated pathfinder element Ionic Leach till anomaly and
interpreted structural corridor (see Gold Line News Release dated
November 4th, 2021).
- Belle Target: Approximately 500 meters to the southwest of the
Harpsund target and 1km to the north of the already known Belle
anomaly (see Gold Line news release dated November 4, 2021), the Company extended the ToB
anomaly with a line of step-out holes. Twenty percent (20%)
of the holes in that extension returned samples with anomalous gold
values of >0.1 g/t Au (figure 1).
- Aida Target: Follow up results at Aida target extend Au and
pathfinder anomalism 500m north along
Aida shear zone and discover new Au and pathfinder anomaly on a sub
parallel structure. Seven samples with anomalous gold values of
>0.1 g/t Au and elevated pathfinders were reported in five holes
(figure 1). Drilling has confirmed gold and pathfinder
anomalism along two interpreted structural trends from airborne
magnetic data, including where diamond drill hole PAU21003
intersected a 53.9 gram-meter (grade-thickness) intercept (see
Gold Line News Release dated December 27,
2021). The anomalies on these structural trends are priority
drill targets for 2022.
In total, 201 BoT/ToB holes have been drilled at Paubacken for
2623m in 2020/2021 (170 in 2021 and
31 in 2020). Of these, 7.7% of the 402 bedrock samples collected
returned with anomalous gold values of >0.1 g/t Au, all of which
correspond to interpreted structural corridors. See Figure 2.
Further BoT drilling and follow up diamond drilling is planned
in the 2022 exploration program to infill and extend along
identified structural corridors and confirm bedrock sources of till
anomalies.
Paubäcken – Project Overview
The Paubäcken Project consists of 3 licenses (17,097 ha) that
cover the central part of an emerging district in north central
Sweden known as the "Gold Line
Belt". The Gold Line Belt is host to several significant gold
deposits, including the nearby Barsele project (operated as a joint
venture between Agnico Eagle Mines Ltd. and Barsele Minerals Corp)
as well as the Svartliden mine and Fäboliden development project
(operated by Dragon Mining Ltd). The Svartliden mine was in
production from 2005 to 2015 and a total of 3.18 million tonnes of
material grading 4.1 g/t Au was processed during its operation
(http://www.dragonmining.com/svartliden). The Paubäcken
Project is strategically positioned between Barsele and Fäboliden,
is a few hundred meters northeast of the Svartliden mine, and
features a regional shear zone with multiple untested gold
anomalies.
2021 Exploration Program Overview
The Company has now drilled a total of 6,028 meters divided over
561 reconnaissance BoT/ToB holes through glacial till materials and
several meters into the underlying bedrock on its Paubäcken (2624
metres), Storjuktan (1638 metres), and Blåbärliden (1799 metres)
licenses. The intent of the programs were to test previously
unexplored areas for signs of gold mineralization, either in the
glacial till materials (dispersion signals from nearby sources of
gold mineralization) or in the underlying bedrock. Initial
results from till drilling at Paubäcken and Storjuktan were
announced previously (see Gold Line news releases dated
August 10, October 21, and November
4, 2021). Gold Line has been steadily receiving new data
from its 2021 BoT/ToB campaign. The latest results include numerous
newly identified clusters of bedrock samples with anomalous gold
values of over 0.1 g/t distributed over several key target
areas.
Sampling:
Samples were collected in accordance with industry standard best
practices. Samples were collected by X Drill AB and Lejon Geo AB
and submitted for preparation at the ALS Lab in Malå. Accredited
control samples (blanks and accredited standards) are inserted into
the sample intervals regularly. Bedrock samples are crushed to
70% less than 2mm, rotary split off 250g, pulverize split to
better than 85% passing 75 microns. Pulps are analyzed at the ALS
lab in Ireland with a four-acid
digestions and ICP-MS finish, gold is analyzed by Fire Assay.
Till samples are dried <60°C/140°F, sieved to -180 micron (80
mesh) and both fractions are retained. Sieved samples are subject
to aqua-regia digestions and analyzed with full multi-element
geochemical suite and ICP-MS super trace gold method.
The BoT/ToB sampling approach has been successfully utilized as
an exploration technique throughout Fennoscandia for many years and
remains the most widely applied tool for making new discoveries.
Preeminent examples include the recent discoveries of satellite
gold deposits on Rupert Resources' Pahtavaara gold property in
Finland, and Anglo American Plc's
Sakatti nick-copper discovery, also in Finland.
Notes on nearby mines and deposits:
The nearby mines, deposits and projects discussed in this news
release provide context for Gold Line's projects in the area, which
occur in a similar geologic setting, but they are not necessarily
indicative that the projects host similar mineralization.
Qualified Person:
The technical information in this news release has been prepared
in accordance with the Canadian regulatory requirements set out in
National Instrument 43-101 and reviewed and approved by
Benjamin Gelber, M.Sc, P.Geo, a
Qualified Person.
About Gold Line Resources Ltd.
Gold Line Resources is focused on acquiring mineral properties
with exceptional exploration potential in the most prolific
gold-producing regions of Fennoscandia, and further delineating the
historic. Gold Line is working in one of the world's top mining
jurisdictions and emerging exploration frontiers due to its strong
mineral endowment, stable tenure, straightforward permitting,
favourable tax regime and supportive geopolitical landscape.
Gold Line currently holds a prospective portfolio of five gold
exploration projects in Sweden:
one project is in the Skelleftea belt of north-central Sweden and four projects, including the
Långtjärn property, are located within the Gold Line Mineral Belt
of north-central Sweden. The
projects are located on a 200-kilometre Proterozoic greenstone
sedimentary belt that is host to multiple gold showings and
deposits
ON BEHALF OF THE BOARD OF DIRECTORS OF GOLD LINE
RESOURCES,
Adam Cegielski
CEO & Director
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Cautionary Note Regarding Forward-Looking
Statements
This news release contains statements that constitute
"forward-looking statements." Such forward looking statements
involve known and unknown risks, uncertainties and other factors
that may cause Gold Line's actual results, performance or
achievements, or developments to differ materially from the
anticipated results, performance or achievements expressed or
implied by such forward-looking statements. Forward looking
statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects,"
"plans," "anticipates," "believes," "intends," "estimates,"
"projects," "potential" and similar expressions, or that events or
conditions "will," "would," "may," "could" or "should" occur.
Forward-looking statements in this news release include
statements that are not historical facts. By their nature,
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors and risks include, among others: that
exploration and development activities will not be completed as
planned; that the results of exploration and development activities
will not be as anticipated. Gold Line may require additional
financing from time to time in order to continue its operations
which may not be available when needed or on acceptable terms and
conditions; compliance with extensive government regulation;
domestic and foreign laws and regulations could adversely affect
Gold Line's business and results of operations; the stock markets
have experienced volatility that often has been unrelated to the
performance of companies and these fluctuations may adversely
affect the price of Gold Line's securities, regardless of its
operating performance; and the impact of COVID-19. The
forward-looking statements contained in this news release represent
the expectations of Gold Line as of the date of this news release
and, accordingly, are subject to change after such date. Readers
should not place undue importance on forward-looking information
and should not rely upon this information as of any other date.
Gold Line undertakes no obligation to update these forward-looking
statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.
SOURCE Gold Line Resources Ltd.