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GGL completes ground geophysical survey at Stein

2019-08-27 09:20 ET - News Release

See News Release (C-GGL) GGL Resources Corp (3)

Mr. David Kelsch of GGL Resources reports

GGL RESOURCES CORP. RECEIVES COMPELLING RESULTS FROM GROUND GEOPHYSICAL SURVEYS AT THE STEIN DIAMOND PROJECT

GGL Resources Corp. has completed the ground geophysical survey program on the Stein diamond project, Nunavut. The company has the option to earn a 60-per-cent undivided interest in Arctic Star Exploration Corp.'s wholly owned Stein diamond project by discovering in situ kimberlites. The Stein diamond property consists of four contiguous prospecting permits covering an area of 1,065 square kilometres on the Southern Boothia peninsula, 45 kilometres from tidewater. It is located 85 kilometres northwest of the community of Taloyoak, Nunavut, which is serviced daily by commercial flights and seasonally by barge.

The company's detailed ground magnetic survey program has delineated a number of very compelling targets that are consistent with magnetic signatures over known kimberlites that have intruded through Cambrian-Devonian-age Arctic Platform carbonate rocks at parallel latitudes elsewhere in Northern Canada. Similar geology is found on the Stein project.

A broad range of kimberlite-like signatures were defined during the surveys, which further bolster the possibility of Stein delivering a new kimberlite field. Many known kimberlite fields exhibit a variety of magnetic responses that represent kimberlites intruding under varied circumstances and conditions. These signatures range from isolated magnetic highs to strong dipolar features to elongate dike-like responses. The Stein project has delivered all three of these emplacement-style signatures, including: a large isolated magnetic high that is approximately 200 metres in diameter; multiple strong, discrete dipolar signatures; as well as an elongate dike-like signature over 800 metres in length. Maps showing several examples of priority targets at Stein, along with magnetic signatures from known kimberlites in comparable host rocks at parallel latitudes, are available at the company's website.

The high-priority geophysical targets are interpreted to be intrusive in nature, occurring at the surface and covered by a sequence of glacial till. Although magnetic signatures of known kimberlites are not indicative of diamond content, the potential of the Stein cluster of high-interest targets is further reinforced by heavy mineral samples collected down ice, which contain indicator mineral grains that are indicative of diamond inclusion chemistry showing high-chrome, low-calcium G10D pyrope garnets.

Stein is a permitted, advanced diamond exploration project, having the benefit of numerous successive exploration campaigns and over $1.5-million in previous expenditures. Drill testing has not been conducted on the project to date. The nearest known kimberlite discovery to Stein is over 230 kilometres to the southeast and perpendicular to the regional ice flow direction. The distance and direction greatly reduces the potential of the Stein mineral grains being an overprint from this field.

GGL will continue with further modelling and target prioritization in preparation for future drilling, as the Stein project has now been further derisked and brought to the drill-ready stage.

The technical information in this news release has been approved by David Kelsch, PGeo, president of GGL Resources, a qualified person for the purposes of National Instrument 43-101.

About GGL Resources Corp.

GGL Resources is a Canadian-based junior exploration company focused on diamond exploration in Northern Canada, with key projects in Nunavut, as well as the Lac de Gras diamond district in 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 1990s. In addition to GGL's key focus of diamond exploration, it holds diamond royalties on mineral leases in close proximity to the Gahcho Kue diamond mine in the Northwest Territories. The company also holds in portfolio several encouraging base metal and gold projects in British Columbia and the Northwest Territories.

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