GGL Samples 970 g/t Silver over 1.52 m from the Orleans Mine at Its Gold Point Project, Nevada

VANCOUVER, BC / ACCESSWIRE / February 1, 2023 / GGL Resources Corp. (TSXV:GGL) (“GGL” or the “Company”) is pleased to announce high-grade silver results that complement previously reported high-grade gold results from the underground exploration program at the 4th accessible Gold Point project on the Walker Lane trend in western Nevada .

Selected highlights of this underground exploration program at the Orleans mine include:

• 9.24 g/t gold with 646 g/t silver over 2.13 m from the 300 foot level
• 0.49 g/t gold with 970 g/t silver over 1.52 m from the 300 foot level
• 2.63 g/t gold with 634 g/t silver over 1.68 m from the 300 foot level
• 61.8 g/t gold with 71 g/t silver over 1.38 m from the 300 foot level
• 27.7 g/t gold with 63 g/t silver over 1.68 m from the 150 foot level
• 21.4 g/t gold with 131 g/t silver over 1.22 m from the 800 foot level
• 18.4 g/t gold with 142 g/t silver over 1.52 m from the 600 foot level

The Orleans mine is the largest of the four past producers on the Gold Point property. 2022 work has developed approximately 35% of the underground workings at the Orleans mine. Gold results from 2022 sampling at this mine were previously announced (see news release dated January 24, 2023).

The highest-grade silver values ​​do not directly correlate to the highest-grade gold results. In most cases, the best silver grades are found in the hanging wall adjacent to vein faults. These results are particularly encouraging as historic workings are typically confined to the footwall side of the vein fault and only extend significantly into the hangingwall at the 300′ level. At this working level, the mineralized vein has been exposed over an area approximately 54m long and 18m wide and is still open for extension on all six sides.

The following table lists results for chip samples assaying greater than 1.0 g/t gold equivalent.

interval	gold	Silver	AuEQ		interval	gold	Silver	AuEQ
(m)*	(g/t)	(g/t)	(g/t)+		(m)*	(g/t)	(g/t)	(g/t)+
150′ level (5 samples)					400′ level (8 samples)
1.68 m	27.7	62.8	28.46		0.91 m	0.87	15.75	1.06
0.61 m	1.45	463.0	7.09		1.65 m	0.75	97.7	1.94
1.22 m	5.73	42.7	6.25		1.37m	1.06	120.0	2.52
300′ level (16 samples)					1.04m	2.64	14.75	2.82
					0.91 m	2.33	133.0	3.95
1.68 m	2.63	634.0	10.35		600′ level (10 samples)
1.22 m	8.06	257.0	11.19
1.52 m	0.49	970.0	12.3		1.52 m	18.45	142.0	20.18
2.13m	9.24	646.0	11/17		0.91 m	0.75	45.9	1.31
1.37m	61.8	71.4	62.70		1.22 m	1.56	47.5	2.14
1.37m	5.32	86.0	6.37		1.07m	1.24	88.7	2.32
1.37m	5.31	237.0	8.20		1.52 m	1.28	96.1	2.45
1.83 m	1.17	39.8	1.65		1.22 m	2.73	129.0	4.30
1.68 m	2.11	31.4	2.49		1.83 m	0.38	60.4	1.12
1.22 m	0.71	222.0	3.41		800′ level (6 samples)
1.52 m	4.31	142.0	6:00 am
1.52 m	2.12	208.0	4.65		1.22 m	21.4	131.0	23.00
					1.37m	0.75	58.5	1.46
					1.22 m	3.94	37.9	4.40
					1.07m	0.93	37.2	1.38

*Interval widths are limited by opening size and orientation and may not represent true width.

⁺Gold equivalent is calculated using a 1:82 ratio based on $1930/oz gold and $23.50/oz silver and assumes a 100% metallurgical recovery.

A total of 45 continuous chip samples and 10 rock samples were collected during Q4, 2022 from five of the 11 levels at the Orleans Mine. Only two of the 45 chip samples are considered unmineralized and assay less than 0.3 g/t gold equivalent. The width of the chip samples was limited by the size of the workings and in most cases the vein extends beyond the sampled interval.

Historical maps indicate that the known high-grade mineralization is concentrated in two gently east-dipping shoots that developed along a moderately northwest-dipping vein fault. Many of the adits between these shoots do not follow the vein fault and reference samples collected here are weakly mineralized.

Initial surveys by GGL in 2022 have shown that historic mining has not removed all of the high-grade mineralization in these shoots and that they remain open at depth. In addition, the vein fault is exposed in the easternmost working face of each level accessed, indicating that mineralization continues to the east beyond the existing workings.

Historical records from the lower levels, not yet accessed by GGL, describe 35 samples collected from the 960 ft to 1020 ft levels after mining via the Orleans Vein, averaging 0.389 ounces (13.3 g/t) gold, including a vein at the 1020 foot level that assayed 7.97 ounces of gold (273.2 g/t) over 0.5 m.

Next Steps

The next phase of exploration at the Orleans mine will focus on re-establishing access to the lower levels and other un-reached areas of the mine. After completion, the mining sites will be surveyed in detail, mapped and sampled. It is believed that many of the existing adits lie between the known extensions in the footwall of the vein fault. Mapping will confirm the orientation and location of the vein fault to aid in the alignment of underground drilling. It will also delineate cross-faults that are believed to have created dilatant zones along vein faults that host the main mineralized shoots.

About the Orléans mine

The Orleans vein was discovered in 1908 and mined intermittently until 1962. Historical records indicate that approximately 74,000 ounces were produced at the Orleans and Great Western mines with recoveries of 92% to 98% for gold by cyanidation. Most of this production came from the Orleans mine.

It is estimated that there is nearly 4,200m of horizontal development at the Orleans mine accessible via the central Dunfee shaft. The workings are mostly open and dry to approximately 275 m vertically below surface on the Orleans Vein (1020 ft level).

About gold point

The Gold Point Project is located adjacent to the Gold Point community accessible by Highway 774. The Gold Point property totals 4,917 acres (19.9 km).²) and consists of 257 vein claims and 7 patent claims.

The property consists of past producing underground mines that have been explored along portions of four prominent vein structures. These main structures are paralleled by several other easily explored structures. The mines operated intermittently from the 1880’s through the early 1960’s producing gold and silver from mesothermal veins. Mineralization is heavily oxidized to the bottom of the workings, which reached a maximum depth down dip of 1020 ft (311 m).

Analysis method and qualified person

Sample preparation and gold analysis was performed by ALS Minerals of Reno, Nevada. Gold was analyzed by fire assay followed by atomic absorption (Au-AA26).

The 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 as defined by National Instrument 43-101.

About GGL Resources Corp.

GGL is an experienced Canada-based junior exploration company focused on the exploration and advancement of undervalued mineral deposits in politically stable, mining-friendly jurisdictions. The Company has 100% owned options and claims in the Gold Point district of the prolific Walker Lane Trend, Nevada. Gold Point’s claims contain multiple gold-silver veins, four of which host past high-grade mines. The Company also owns the McConnell gold-copper project, located 22 kilometers southeast of the Kemess mine in north-central BC, and prospective diamond exploration projects in Nunavut and the Lac de Gras diamond district of the Northwest Territories. Lac de Gras is home to Canada’s first two diamond mines, the world-class Diavik and Ekati mines, discovered in the 1990’s. GGL also holds diamond licenses on mineral leases near the Gahcho Kué Diamond Mine in the Northwest Territories.

ON BEHALF OF THE BOARD OF DIRECTORS

“W Douglas Eaton”

Doug Eaton
CEO and director

For more information on 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 [email protected]

company information Linda Knight Corporate Secretary Tel: (604) 688-0546 [email protected]

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The information contained in this press 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 “evaluate,” “potential,” “likely,” “possible,” “limits,” and similar expressions or 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 GGL’s control. These factors include, but are not limited to: risks and uncertainties related to exploration and development and its results, including the results of the recently completed drilling program, the impact on future mineral resource estimates, the potential for new discoveries and the results of future metallurgical programs, and the capability of GGL, obtaining additional funding, the need to comply with environmental and governmental regulations, fluctuations in commodity prices, operational hazards and risks, competitive and other risks and uncertainties, including those described in GGL’s financial statements available under the GGL profile at www.sedar.com. Accordingly, actual and future events, conditions and results could differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required by applicable securities laws, GGL undertakes no obligation to publicly update or revise any forward-looking information.

SOURCE: GGL Resources Corp.