VANCOUVER, BC, May 26, 2022
/CNW/ - Gold Line Resources Ltd. (TSXV:
GLDL) ("Gold Line" or the "Company") is pleased to announce
that it has completed Phase 1 (of 2) of an unmanned aerial vehicle
(UAV) magnetic survey over its 100% owned ~17,600 Hectare Oijärvi
Greenstone Belt Project in northern Finland conducted by Radai Oy based in Oulu Finland. The aim of the
survey is to collect data in order to map underlying geology and
structural architecture over the entire greenstone belt and
determine priority target areas for its 2022 exploration programs
and beyond.
Highlights – UAV Magnetic
Survey of Oijärvi Greenstone Belt
- Adopted because it is faster, more cost-efficient,
environmentally friendly, and safer than existing survey
techniques.
- Provides dense high-quality data at tight line spacing and low
flight elevation
- Completion of 2100 line km phase 1 (of 2) over northern and
western portion of Oijärvi belt
Gold Line commissioned Radai Oy,
an industry leader in UAV magnetic surveys, to conduct the survey.
The Phase 1 survey consisted of 2100 line km over the northern and
western portions of the Oijärvi greenstone belt (See Figure 1). The
central portion of the belt will be flown in early fall in
cooperation with local indigenous groups reindeer calving
schedules.
UAV aeromagnetic geophysical surveys consist of flying an
unmanned drone fitted with a magnetometer measuring the intensity
of the geomagnetic field over the ground that it flies to detect
local magnetic variations between different geological units and
structures.
The Oijärvi greenstone belt has been subjected to at least two
recent glaciation events, depositing extensive glacial till cover
over the underlying bedrock ranging from zero in the north to
>30 m in some areas of the south.
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.
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.
SOURCE Gold Line Resources Ltd.