GGL Resources Corp. Provides Update on Le Champ Copper Porphyry Target, Nevada
Rhea-AI Summary
GGL Resources Corp. (TSX-V:GGL) has provided an update on the Le Champ copper-molybdenum-gold porphyry target at the Gold Point Project, Nevada. Teck American Incorporated, which recently optioned the property, has completed a mapping program in October 2024 that confirmed porphyry-style veining and alteration domains.
The Bureau of Land Management has approved a Notice of Intent for road and drill pad construction, with a maiden drill program scheduled for early Q2 2025. Key findings include:
- High-density sheeted to stockwork EDM and B type vein densities
- Strong secondary biotite alteration
- Mineralized transitional igneous-hydrothermal breccias
- Age dating results of 167-159 Ma, consistent with nearby Yerington District deposits
Additionally, GGL maintains control of the high-grade gold vein-fault systems at Gold Point, which includes five former mines: Orleans, Great Western, Lime Point, Cook, and Grand Central, plus numerous smaller workings.
Positive
- BLM approval secured for maiden drill program
- Mapping confirms porphyry-style mineralization
- Age dating results align with nearby productive deposits
- Project is road accessible
Negative
- No drilling completed yet to confirm mineralization
- Early-stage exploration project with no resource definition
VANCOUVER, BC / ACCESS Newswire / March 3, 2025 / GGL Resources Corp. (TSX-V:GGL) ("GGL" or the "Company") is pleased to provide an update on the Le Champ copper-molybdenum-gold porphyry target at the road accessible Gold Point Project, Nevada optioned to Teck American Incorporated ("Teck"), a subsidiary of a leading Canadian resource company, Teck Resources Limited. (See news release date September 25, 2024).
Teck recently provided GGL with an update on exploration activities at the Le Champ porphyry target. A mapping program was executed in October 2024 that defined porphyry-style veining and alteration domains coincident with the IP chargeability and copper-molybdenum soil anomalies defined by GGL's previous work on the Le Champ porphyry target area.
A Notice of Intent (NOI) has been approved by the Bureau of Land Management (BLM) for construction of access roads and drill pads in support of a maiden drill program on the newly refined porphyry target areas. The drill program is scheduled to commence early Q2, 2025.
"GGL is excited to see Teck advance the Le Champ porphyry target with an in-depth, technically sound field program within only two months of signing the option agreement," states David Kelsch, President of GGL. "And now to be positioned to execute a maiden drill program within six months speaks to the caliber of work and the targets generated."
The broad IP chargeability/conductivity anomaly and copper-molybdenum soil anomalies defined by GGL's early generative field work correlate well with the key mapping criteria utilized by Teck to aid in drill hole targeting. (See news release date April 10, 2024). The following mapped characteristics support the upper potassic alteration envelope hypothesis:
High density sheeted to stockwork EDM (chalcopyrite with biotite selvage) and B type (K-feldspar vein haloes) vein densities fringed by zones of D veins (phyllic);
Strong secondary biotite alteration;
Syn- to early-mineral intrusions or mineralized transitional igneous-hydrothermal breccias;
Elevated volume % oxide after sulfide estimates within zones of highest vein density;
Elevated ratios of glass limonite (interpreted as chalcopyrite) to other limonite species are concurrent with all the above mentioned potassic features; and,
Distribution and volume % estimate of oxide sites including goethite, hematite, jarosite, and glass limonite coincident with the IP chargeability anomaly are a possible indication of remnant hypogene sulphides (chalcopyrite, bornite/magnetite, and pyrite) in a pre-weathering environment.
An extensive geochronological (age dating) sampling program included U-Pb, Zircon geochronology to understand the relationships between the mapped pre-, post- and syn- intrusive phases identified at Le Champ. The 167-159 Ma age range is consistent with syn-mineral dikes at the McArthur and Ann Mason deposits in the nearby Yerington District also in the Walker Lane Trend of Nevada.
The identification of two syn-mineral intrusive phases associated with hydrothermal alteration, mineralization and veining, the increase in secondary biotite and K-spar alteration proximal to known hydrothermal breccias and B-type veins, and the coincidence of classic D-type veins with sericite and clay alteration also supports the Le Champ porphyry copper target.
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Gold Point - High-Grade Gold Vein-Fault Systems
In addition to the Le Champ copper porphyry target optioned to Teck, GGL holds the high-grade vein-fault systems at the Gold Point Project. (See news release date February 19, 2025). The permitted and road accessible Gold Point Project is located 26 miles south of Goldfield, Nevada.
The gold mineralization occurs along veins with higher grades occurring as mineralized shoots at structural intersections in the five significant former mines (Orleans, Great Western, Lime Point, Cook, Grand Central) plus numerous smaller workings totaling at least 17 known to date.
GGL will continue to advance the claims containing the gold portion of the Gold Point project independently of the concurrent work conducted by Teck on the porphyry target.
Qualified Person
Technical information in this news release has been reviewed and approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and a qualified person for the purposes of National Instrument 43-101.
About GGL Resources Corp.
GGL is a seasoned, Canadian-based junior exploration company, focused on the exploration and advancement of under evaluated mineral assets in politically stable, mining friendly jurisdictions. The Company has optioned and wholly owned claims in the Gold Point district of the prolific Walker Lane Trend, Nevada. The Gold Point claims cover several gold-silver veins, five of which host past producing high-grade mines, as well as an exciting new porphyry target which is currently under option to Teck. The Company also owns the McConnell Project, which hosts mesothermal gold veins and an under explored porphyry copper-gold prospect in the Kemess District of north-central British Colombia. GGL also holds diamond royalties on mineral leases adjacent to the Gahcho Kué diamond mine and southwest of the Ekati diamond mine in the Northwest Territories.
ON BEHALF OF THE BOARD
"David Kelsch"
David Kelsch
President, COO and Director
For further information concerning GGL Resources Corp. or its various exploration projects please visit our website at www.gglresourcescorp.com or contact:
Investor Inquiries
Richard Drechsler
Corporate Communications
Tel: (604) 687-2522
NA Toll-Free: (888) 688-2522
rdrechsler@strategicmetalsltd.com
Corporate Information
Linda Knight
Corporate Secretary
Tel: (604) 688-0546
info@gglresourcescorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information contained in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "coincident", "aggressively", "in-depth", "broad", "consistent", "high", "elevated", "evaluated", "potential", "strong", "significant" and similar expressions, or that events or conditions "may", "could" or "will" occur. GGL cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the control of GGL. Such factors include, among other things: risks and uncertainties relating to exploration and development and the results thereof, including the results of the recently completed drill program, the impact on future mineral resource estimates, the potential for new discoveries, and the results of future metallurgical programs, as well as the ability of GGL to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in GGL's financial statements available under the GGL profile at www.sedarplus.ca. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, GGL undertakes no obligation to publicly update or revise forward-looking information.
SOURCE: GGL Resources Corp.
View the original press release on ACCESS Newswire
FAQ
When will GGLXF start drilling at the Le Champ copper porphyry target in Nevada?
What are the key geological features identified at GGLXF's Le Champ target?
How many former mine sites are included in GGLXF's Gold Point Project?
What is the location of GGLXF's Gold Point Project in Nevada?
