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    CCR   CA39328D1042

GREEN RIVER GOLD CORP.

(CCR)
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Green River Gold Corp :. Announces Completion of the Fieldwork Portion of the UAV/MAG Airborne Geophysics Survey on its Fontaine Gold and Quesnel Nickel Properties

06/01/2021 | 07:31am EDT

(via TheNewswire)



June 1, 2021 - TheNewswire -Edmonton, Alberta- Further to our press release of May 13, 2021, Green River Gold Corp. (the “Company”)(CNSX:CCR.CN) has been informed that the physical part of the UAV-MAG Airborne Geophysics Survey on its Fontaine Project and Quesnel Nickel Project has now been completed. The survey was flown by Pioneer Exploration Consultants Ltd. (“Pioneer”), a leading Canadian geophysics provider.  Advanced processing such as inversion and basic geological interpretation is now underway.  The results will be announced after the Company’s Lead Geoscientist has had an opportunity to review and analyze the new information.  That is anticipated to be within the next several weeks.

Survey Highlights

  • - Pioneer carried out the survey using DRONE-MAG technology.

    -Approximately 1,500-line kilometers of UAV Magnetics (67 square kilometres with 50 m spacing).

    - Important step for the Fontaine Project which has not seen modern exploration.

  • - The proposed magnetic survey will cover the entirety of the Fontaine Project, including the Quesnel Nickel Project, to identify high priority drill targets.

    - The UAV-MAG Survey can fly at tree-top level with tight-line spacing, which gathersdetailed data that highlights subtle magnetic features for interpreting structures.

    - The new survey will help better identify cross-cutting features and other high-priority structures at the Fontaine Project. Identification of these structures will help define and identify drill targets for our anticipated drill program.

    - Pioneer uses the GEMSystems™ GSMP-35U/25U which was the first lightweight, high sensitivity, magnetometer specifically designed for UAVs and DRONE-MAG surveys. Pioneer’s sensors are based on GEM’s popular optically pumped Potassium Magnetometer system, which offers absolute accuracy, gradient tolerance, and the highest sensitivity available in the industry.

    - The advanced processing such as inversion and basic geological interpretation results are expected within 4 weeks from completion of the DRONE-MAG survey.

Kyle Townsend, Green River Gold Corp,’s Mine Manager comments; "We look forward to receiving the results of the DRONE-MAG survey.  The survey will be extremely useful for interpreting possible gold-bearing features for surface and near-surface exploration at the Fontaine Project, which has not seen modern exploration. Moreover, we will soon announce our surface and near-surface campaigns for calendar Q2 and Q3 of this year."

The technical data in this new release has been reviewed and approved by Stephen Kocsis, P.Geo. (a qualified person for the purpose of National Instrument 43-101 -Standardsof Disclosure for Mineral Projects).

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, as well as the Company’s Quesnel Nickel Project.  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 the1,214-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:

Green River Gold Corp.

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. 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.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

Copyright (c) 2021 TheNewswire - All rights reserved.

Copyright (c) 2021 TheNewswire - All rights reserved., source Press Releases

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Financials
Sales 2020 0,29 M 0,23 M 0,23 M
Net income 2020 -0,40 M -0,32 M -0,32 M
Net Debt 2020 0,34 M 0,27 M 0,27 M
P/E ratio 2020 -5,70x
Yield 2020 -
Capitalization 3,39 M 2,70 M 2,71 M
EV / Sales 2019 448x
EV / Sales 2020 12,0x
Nbr of Employees -
Free-Float 50,1%
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Managers and Directors
Pearson John Little President, Chief Executive Officer & Director
Shawn Stockdale Chief Financial Officer, Secretary & Director
Ricky James Watters Independent Director
David Upright Independent Director
Vernon Kibblewhite Director
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