VANCOUVER, BC, May 11, 2022
/CNW/ - Gold Line Resources Ltd. (TSXV:
GLDL) ("Gold Line" or the "Company") reports that it has
successfully concluded a reinterpretation of a 2015 helicopter
airborne magnetic geophysical survey by SkyTEM Surveys ApS over the
100% owned Paubäcken project located in the Gold Line Belt,
northern Sweden.
The survey results have been integrated with known surface and
bedrock geology, alteration, and mineralization as well as data
from 141 drill holes to produce a 2D structural architecture map.
The interpretation was completed by Dr. Perry Eaton, a consulting geophysicist with 35
years experience working primarily during this time for Newmont
Mining Corp. (www.minexgp.com)
Highlights – Paubäcken
Geophysics Interpretation
- First and second order high strain structural network
mapped.
- Demagnetization zones and potential small intrusions identified
along structural corridors.
- Multiple priority areas of interest identified with significant
discovery potential.
- Provides foundation for systematic till and bedrock sampling
programs in 2022.
The completed geophysical interpretation has identified and
confirmed numerous high priority targets. The study also
demonstrated that gold and pathfinder element anomalism observed in
glacial till and bedrock geochemistry are coincident with high
strain structural corridors interpreted from the geophysical data
at all target areas on the Paubäcken project.
"The targets delineated from this reinterpretation of the
aeromagnetic survey data, historical rock sampling and historic
diamond drill results have provided Gold Line with high priority
targets for this year's exploration program," said Adam Cegielski, CEO of Gold Line Resources. "We
are excited to use this information to potentially expand current,
and identify new, large hydrothermal footprints associated with
significant orogenic gold systems.
Structural interpretation maps of the Paubäcken project area
have now been created combining geophysical data with known
basement and outcrop geology.
Figure 1: Structural framework interpretation of the
Paubäcken project area showing interpreted first and second
order structural features, known intrusions and zones of
demagnetization.
The geophysical interpretation has identified the regionally
significant N-S trending first order Gold Line structural corridor
to which all known mineralization within the gold line belt
displays a spatial relationship. At Paubäcken, this structure forms
the western margin of a package of highly folded and deformed basin
sedimentary, volcanic and intrusive rocks that host historic and
newly identified mineralization within the belt. Of particular
interest is the identification of multiple NW-SE trending second
order structural corridors interpreted to be conjugate splay
structures off the main structural corridor. These second order
structures commonly control and host mineralization in orogenic
systems and are high priority exploration targets. The study also
identified several areas of apparent demagnetization coincident
with first and second order structural corridors which may be
associated with hydrothermal alteration footprints related to gold
mineralization, and with small intrusions that can act as hosts for
gold mineralization and that are also high priority exploration
targets.
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.
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 Sweden
and Finland. Gold Line is working
in two of the world's top mining jurisdictions and emerging
exploration frontiers due to their strong mineral endowment, stable
tenure, straightforward permitting, favourable tax regime and
supportive geopolitical landscape.
Gold Line currently holds a prospective portfolio of gold
exploration projects in Sweden and
Finland. In Sweden projects are located in the Gold Line
Mineral Belt and Skellefteå Belt of north-central Sweden, and the Mjøsa-Vänern Belt in southwest
Sweden. In Finland Gold Line holds the entire
underexplored Oijärvi Greenstone Belt located in northern
Finland.
On behalf of the Board of Directors of Gold Line
Resources,
Adam Cegielski
CEO & Director
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this release.
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.
Geophysical data and its interpretation are essential
exploration tools, especially in areas that are under cover and not
exposed to surface. The Paubäcken project area has been
subjected to two recent significant glaciation events during the
last ice age, resulting in a veneer of glacial till ranging from
zero to >30 m in depth and
covering >85% of all bedrock exposure. The glacial till layer
transports and masks the geochemical signal of bedrock hosted
mineral deposits and limits direct field observation of geological
and structural information. Geophysics is a fundamental tool
utilized by Gold Line Resources to "see" below the cover material
and provide a geological and structural framework to guide all
exploration programs.
SOURCE Gold Line Resources Ltd.