Green River Gold Corp. Intercepts Its Highest XRF Nickel Results to Date at Surface in Zone 2, 8 Kilometers from Its Original Discovery Zone at the Quesnel Nickel/Talc/Magnesium Project

Edmonton, Alberta--(Newsfile Corp. - August 31, 2022) - Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the "Company" or "Green River") is pleased to update the progress on the 2022 exploration program at its Quesnel Nickel/Magnesium/Talc Project, located 40 kilometers from the City of Quesnel, British Columbia, in the prolific Cariboo Mining District.

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Figure 1. Drill Collar Locations Zone 1 and Zone 2
 
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Zone 2 is located approximately 8 kilometers southeast of Zone 1 which is already known to contain nickel, chromium, magnesium and talc, based on previous drilling. Zone 2 consists of a bedrock outcropping covering an area of over 1,2 square kilometers. Both Zone 1 and Zone 2 are located along the 14 kilometer long Deep Purple magnetic anomaly.

This is the first drilling completed on Zone 2. Five shallow backpack drill holes have been completed to date. The nickel grades which were recorded with a handheld XRF scanner were higher than the Company encountered with its prior drilling program in Zone 1. The highest nickel grade encountered thus far in Zone 2 is 0.245% over 3 meters in hole FCD-22-03. Chromium grades were similar to the grades reported at Zone 1. Magnesium values are not recorded with the XRF scanner so any magnesium values will have to await assay. Magnesium grades averaged 15.73% in the assays taken from the area of talc alteration in Zone 1.

All five of the new holes in Zone 2 encountered nickel and chromium mineralization from surface as have all the holes drilled in Zone 1 to date. Shallow drilling is continuing as the Company continues to expand the area of known mineralization and gathers information to help choose locations for deeper drilling.

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Figure 2 Drilling Locations on The Deep Purple Target
 
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The drill core was delivered to the Company's facility in Quesnel and was scanned with an XRF analyzer. The following tables show the meter-by-meter XRF results of drill hole FCD-22-01 to a depth of 5.0 meters, FCD-22-02 to a depth of 2.0 meters, drill Hole FCD-22-03 to a depth of 3.0 meters, drill Hole FCD-22-04 to a depth of 5.1 meters and drill Hole FCD-22-05 to a depth of 5.1 meters. As with all the previous drill holes, mineralization was present from surface.

 
 Hole IDFCD-22-01
  
 
   
Measurement UnitAverage Grade %
  
Depth (M)NiCr 
0 to 1.0 meter0.2070.224 
1.1 to 2.0 meters0.2210.117 
2.1 to 3.0 meters0.3080.113 
3.1 to 4.0 meters0.2270.151 
4.1 to 5.00.0940.093 
5.0 to EOH0.1860.141 
Grade Average0.2080.141 

 

Hole IDFCD-22-02  
 
   
Measurement UnitAverage Grade %  
Depth (M)NiCr 
0 to 1.0 meter0.2080.170 
1.1 to 2.0 meters0.1980.173 
Grade Average0.2030.171 

 

Hole IDFCD-22-03  
  
   
Measurement UnitAverage Grade %  
Depth (M)NiCr 
0 to 1.0 meter0.2790.174 
1.1 to 2.0 meters0.2190.147 
2.1 to 3.0 meters0.2320.094 
Grade Average0.2450.139 

 

Hole IDFCD-22-04  
  
   
Measurement UnitAverage Grade %  
Depth (M)NiCr 
0 to 1.0 meter0.1990.217 
1.1 to 2.0 meters0.2260.239 
2.1 to 3.0 meters0.2100.162 
3.1 to 4.0 meters0.2300.144 
4.1 to 5.0 meters0.1910.077 
5.1 to EOH0.2590.106 
Grade Average0.2140.165 

 

Hole IDFCD-22-05  
  
   
Measurement UnitAverage Grade %  
Depth (M)NiCr 
0 to 1.0 meter0.2300.148 
1.1 to 2.0 meters0.1750.132 
2.1 to 3.0 meters0.1730.170 
3.1 to 4.0 meters0.1960.124 
4.1 to 5.0 meters0.1870.133 
5.1 to EOH0.2300.130 
Grade Average0.1950.141 

 

Note: The XRF data is taken as point values and will not represent the true grade of the samples assayed. The elemental data is highly dependent on the location of which the beam intersects the rock. The device used to take the data points is an Olympus Vanta C Series handheld X-ray fluorescence (XRF) and produces a beam spot diameter of up to 3mm. It is designed to achieve laboratory-quality results in the field and provides rapid and accurate elemental analysis and testing.

Perry Little, President and CEO of Green River Gold Corp., comments; "We are pleased to continue to achieve higher XRF nickel readings as we move farther from the original discovery holes which were drilled in an area of talc alteration. Our geologists felt that higher nickel grades were likely to be found as we moved away from the talc and so far, that theory seems to be holding up. We look forward to seeing assay results for some of the new holes to see if they contain magnesium as well as nickel and chromium. This new outcropping, Zone 2, is 8 kilometers from Zone 1, but on the same 14-kilometer-long magnetic anomaly, giving us hope that the entire magnetic anomaly may contain similar mineralization."

The maiden 2021 exploration drill program consisted of 9 shallow holes collared over exposed ultramafic rocks. These discovery holes returned broad intervals of nickel, chromium, and magnesium mineralization. Assay results from the first six of those holes have been received and are presented in the table below as averages along the entire length of each drill hole. Additional assay results are expected to be released shortly.

 Hole Number Depth (M) Magnesium (%) Nickel (%) Chromium (%)
 
    
Do-21-0115.2415.23%0.14650.1386
Do-21-0214.0015.27%0.14390.1579
Do-21-0316.76 15.27%0.1448 0.1703
Do-21-0418.2915.22% 0.1441 0.1624
Do-21-0517.6815.62% 0.1490 0.1629
Do-21-0616.1517.80% 0.1810 0.1573
 




Average of 6 holes
15.73% 0.15150.1582

 

Quesnel Nickel/Magnesium/Talc Project Highlights:

There are 3 BC MINFILE occurrences as follows:

  • 093A 013 - Sovereign Creek - developed prospect containing talc and magnesite, and a co-incident nickel sulfide showing.

  • 093A 130 - Sovereign - showings containing talc and nickel sulfides.

  • 093H 061 - R.T. - showing containing nickel, chromium, and cobalt.

Historical records indicate four widely separated areas of talc alteration along a 1.4- kilometer trend. Having discovered the presence of nickel in the talc mineralization in the area of Do-Do- Creek, the Company will be further investigating the other three known areas of talc alteration for the presence of nickel this season.

Fontaine Lode Gold Exploration Plan:

Last year, the UAV magnetic survey identified many anomalies in the area. In 2022, the exploration crew will collect soil and rock samples from the anomalous locations. Meanwhile, the vein structures, outcroppings, and mineral showings will be recorded and mapped. A backpack drill will be utilized to execute strategic drilling on the outcrops to investigate mineralized occurrences. The project geologist will summarize historical mining activities and previous exploration records. The historical records will be plotted on a map and verified during the 2022 field season.

Qualified Person:

Stephen P. Kocsis is the qualified person as defined by National Instrument 43-101 and he has reviewed and approved the technical information in this news release.

About Green River Gold Corp.

Green River Gold Corp. is a Canadian mineral exploration company focused on its wholly owned high-grade Fontaine Gold Project, Quesnel Nickel/Magnesium/Talc Project, and Kymar Silver Project which are located in renowned mining districts in British Columbia.

The Fontaine and Quesnel 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 Kymar Silver Project is located in southeast BC, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property is made up of two mineral tenures, totaling 1,625 hectares, along the southeast flank of Mount Catherine.

For more information contact:

Green River Gold Corp.
Mr. Perry Little - President and Chief Executive Officer
perry.little@greenrivergold.ca
780-993-2193

Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.

Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Expressions such as "anticipates", "expects", "believes", "estimates", "could", "intends", "may", "plans", "predicts", "projects", "will", "would" and other similar expressions, or the negative of these terms, are generally indicative of forward-looking information. 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 assumptions. 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.

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