The company is excited to report that its initial hole in the Phase 2 drill program. Hole 2022-AID-001 has intercepted 14.55 metres averaging 2.44 grams per tonne (g/t) gold (Au) incl. 0.85m at 9.60 g/t Au and 1.1m at 9.14 g/t Au from 142.25m depth (see Table 1). Hole 2022-AID-001 intercepted mineralization approximately 50 metres down dip from PAU-21-003 drilled in 2021 (see
The Company plans to complete up to 1500 metres of diamond drilling at the Aida target on the Paubäcken Project using one drill rig. The program is designed to test over 800 metres of a 5 kilometer identified structural corridor coincident with anomalous top of bedrock gold and pathfinder anomalism. The program will step out on the 22.5 m @ 2.4 g/t Au intercept encountered in 2021 (see
The Phase 1 program in late 2021 completed 5-hole 760 metre winter drilling program was encouraging and confirmed bedrock mineralization identified in the 2021 regional BoT/ToB drilling program. The campaign included 22.5 m of 2.4 g/t Au in PAU21003, located under approximately 20 m of glacial till cover. The 2022 diamond drilling program intends to step out on this intercept to depth and along strike to the north and south on the Aida structural corridor. In 2021 wide-spaced regional BoT/ToB drilling identified several additional anomalous Au and pathfinder anomalies at Aida coincident with sub-parallel structural corridors.
Gold
Table 1: Initial drill results from hole 2022-AID-001 in 2022 drilling program
Target Are | Hole ID | From (m) | To (m) | Interval (m) | Au (g/t) | |
Aida | 2022-AID-001 | 142.25 | 156.8 | 14.55 | 2.44 | |
Incl. | 142.25 | 143.1 | 0.85 | 9.6 | ||
Incl. | 153.7 | 154.8 | 1.1 | 9.14 |
Figure 2: Drill collar table of 2022-AID-001 drill hole from the 2022 drill program
Target Area | Hole ID | Easting | Northing | Elevation | Depth | Dip | Azimuth |
Aida | 2022-AID-001 | 7191161.2 | 629068.47 | 427.52 | 172.85 | -50 | 240 |
The Paubäcken Project consists of 3 licenses covering 17,097 hectares that cover the central part of an emerging district in north central
The Paubäcken Project is strategically positioned between Barsele and Fäboliden, and 5 kilometres northeast of the Svartliden mine, within the Gold
All drill core samples were collected under the supervision of Gold Line employees. Drill core was transported from the drill rig to the on-site logging facility where it was logged and photographed, and standard and blank material inserted. Core was transported by Gold Line employees to MSALABS in Storuman,
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
Gold Line currently holds a prospective portfolio of gold exploration projects in
On behalf of the Board of Directors of
CEO & Director
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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.
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