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Green River Gold Corp. Extends the Depth at Its Quesnel Nickel/Magnesium Project and Releases Additional Assay Results from Previous Drilling


Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the “Company” or “Green River”) is pleased to update the progress at the 2022 exploration drilling program at its Quesnel Nickel/Magnesium project, located 40 kilometers from the City of Quesnel, British Columbia, in the prolific Cariboo Mining District.

The first phase of the 2022 exploration drilling program consists of 3 drill holes, approximately 100 meters each, using a portable Winkie drill purchased by the Company late in 2021. The first hole, DD-22-01, was drilled to a depth of 185 feet before it was discontinued for technical reasons. The plan is to re-enter that hole and drill it to greater depth before the current program is complete. The Company has shifted its efforts to drilling the second hole of the 3-hole program. Once the rest of the snow has melted and ground conditions allow, Green River will also be drilling several other known talc outcroppings using a backpack drill. That part of the program will continue throughout the year and is intended to confirm the extent of the talc occurrence and determine whether the nickel, chromium and magnesium mineralization is consistent throughout. The known talc occurrences extend over a length of 1.4 kilometers. The Company will provide regular drilling updates throughout the year.

Hole DD-22-01 drilled through a fault zone consisting of greenish black, weakly-magnetic, brecciated, serpentinite or peridotite protolith to a depth of 185 feet. This hole is a duplicate of hole DD-21-06, which was drilled to approximately 52 feet deep. The protolith exhibits intensely molted serpentine and talc alteration along fractures. A 22-foot-thick swarm of white leucocratic dykes, with strong chlorite and carbonate alteration, were intersected from 67 to 89 feet. The dykes are completely devoid of mafic minerals. A very soft 10-foot-thick zone of intense light green talc alteration extended from 127 to 137 feet deep. Disseminated sulfides, mainly concentrated along veinlets, are hosted in the serpentinite throughout the hole. The sulfides consist of pyrite, chalcopyrite, pyrrhotite, pentlandite, and bornite. Carbonate or calcite, dolomite and magnesite alteration occur along fractures. A handheld XRF analyser detected nickel, chromium, titanium, and lesser amounts of copper, zinc, and manganese in the disseminated sulfides concentrated along veinlets.

Perry Little, President and CEO of Green River comments, “We are excited to see the continuation of the mineralized talc at greater depths. This talc occurrence was the subject of a substantial amount of work in the 1980’s when it was being evaluated as a potential talc mine. The presence of additional minerals such as nickel along with the talc presents interesting potential economics.”

The map that follows shows the locations of the drill holes.. The map also shows the area that will be covered by a new UAV-MAG survey which is now in progress. The UAV-MAG survey results and an updated map should be available in June.

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Figure 1

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Kyle Townsend, Mine Manager for Green River Gold Corp. comments “We are excited to see that the mineralized talc occurrence does indeed reach deeper than previously known. Our intent is to determine whether the talc occurrence continues to the maximum depth our man-portable drill is capable of drilling and whether the nickel, chromium and magnesium content is consistent. The visual inspection of the core from deeper in Hole DD-22-01 and the preliminary XRF readings indicate that the core is consistent with the results from the 2021 drilling program. The current drilling program, combined with the concurrent UAV-MAG survey will determine the scale and location of the next phase of drilling.”

The previously completed UAV-MAG survey results over the Quesnel Nickel/Magnesium Project area indicated the presence of highly magnetic rocks co-incident with the interpreted surface exposure and down-dip projection of a favorable ultramafic rock assemblage. These results are similar to the aeromagnetic response in the area of nickel-alloy mineralization found throughout the BC Decar District.

The elevated elements are hosted in serpentinized ultramafic rocks belonging to the Slide Mountain Terrane.

During the 2021 exploration drilling, 9 shallow holes were drilled from a talc outcropping. All holes intersected talc with magnesium, nickel and chromium present starting right at surface. Assay results from the first 6 of those holes have been received and are presented in the table below.

Hole Number Depth (M) Magnesium (%) Nickel ppm Chromium ppm
Do-21-01 15.24 15.23% 1465 1386
Do-21-02 14 15.27% 1439 1579
Do-21-03 16.76 15.27% 1448 1703
Do-21-04 18.29 15.22% 1441 1624
Do-21-05 17.68 15.62% 1490 1629
Do-21-06 16.15 17.80% 1810 1573
Average of 6 holes 15.73% 1515 1582

Quesnel Nickel/Magnesium 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. This year, the exploration crew will take soil and rock samples from the area of those magnetic anomaly 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 for occurrences of mineralization. The project geologist will summarize the previous historical mining activities and exploration records and plot all the records on the map, to verify the historical records 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 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.

Click here to connect with Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the “Company” or “Green River”) to receive an Investor Presentation

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