Vancouver, British Columbia / December 2nd, 2019 – Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE: GL) is pleased to provide the following update regarding its road accessible 2,574-hectare Cu-Ag-Zn Fairview Property (“Fairview” or the “Property”), located in the Kamloops Mining Division of British Columbia approximately 22 kilometers east of the City of Cache Creek, and 45 kilometers west of the City of Kamloops. Past exploration work on the property dating back to the 1940’s has identified numerous showings within the Property boundaries including the Fairview, P&L, Quinto, and Quinto III minfiles.
The Property is located within the Central Volcanic Facies of the Nicola Group, a narrow belt of alkaline volcanic and subvolcanic intrusive rocks, which are host to numerous alkalic porphyry deposits including both the Copper Mountain Mine to the south and the Iron Mask Batholith (Afton, Ajax) to the east.1 The claims are situated near the northern extent of the highly fertile Guichon Creek Batholith which is the causative intrusion for the Highland Valley Cu-Au and Craigmont Cu mines located to the south of the Property.1
The Company recently flew a 466.09-kilometer airborne magnetic survey over the Fairview, which highlighted several narrow north-south oriented magnetic low lineaments believed to represent limestone units that are coincident with historic skarn-style mineralization on the Property. Additionally, three roughly concentric magnetic highs were identified which could be related to buried intrusions at depth. Small satellite intrusive centers, or roof pendants to the Guichon Creek Batholith are known to extend at least as far north as the Fairview Property. The main target for this Property is the contact zone between buried intrusive centers and the Nicola Volcanic facies rocks, or limestone contacts with the same intrusive suite, and the magnetic products produced during the 2019 survey highlight possible zones where these contacts could exist. Rock sampling completed by the Company during the 2019 field season returned highly anomalous copper and zinc mineralization with results up to 1.48%, and 1.24% Cu as well as 1.78% Zn.
Gold Lion invites all current and prospective shareholders to view property geology maps and associated airborne magnetic survey results by visiting the below stated URL link:
The Company is currently completing a comprehensive review of all available technical data on the Property in advance of the 2020 exploration season. Gold Lion is planning a follow up exploration program on the property involving ground-truthing and prospecting over the most prospective zones identified by the airborne magnetic survey in order to generate high priority drill targets for future work programs.
1Adjacent Properties – This news release contains information about adjacent properties on which Gold Lion does not have the right to explore or mine. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on the Company’s properties.
All samples were described, photographed and sampled by Gold Lion personnel. Samples were delivered to ALS Global’s laboratory in North Vancouver, BC for sample preparation and analysis. Samples were prepared by crushing the entire sample to 70% passing -2mm, riffle splitting off 1 kilogram and pulverizing the split to better than 85% passing 75 microns. Following preparation, the assays are first determined using the ME-MS41 method (Ultra Trace Aqua Regia ICP-MS), which reports results as parts per million (ppm). All analyses that reach the overlimits of ME-MS41 are reanalyzed with an Ore Grade method (Cu: Cu-OG46, Zn: Zn-OG46). The analytical results are verified with the application of industry standard Quality Control and Quality Assurance (QA-QC) procedures.
Agnes Koffyberg, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data in this news release.
About Gold Lion Resources Inc.
Gold Lion Resources Inc. is a mineral exploration company, actively involved in the exploration of the Fairview Copper-Gold project (the “Fairview Project”). The Fairview project is a 2574.3-hectare mineral property located in the Kamloops Mining District of British Columbia. For more information please visit: https://goldlionresources.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
T: (778) 772-1751
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for Gold Lion Resources described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.