Gold Springs Resource Corp. 2022 drill target for the “White Point” target

VANCOUVER, BC / ACCESSWIRE / March 18, 2022 / Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) (the “Company” or “GRC”), is pleased to present its 2022 drilling plans for the “White Point” target, located in the Nevada portion of the major 8000 Gold Springs project. ha located in the United States (Nevada-Utah).

Randall Moore, Executive Vice President of Exploration, said: “The discovery of White Point is a great opportunity for our Company and one of our objectives is to be able to develop a new zone of resources near that of Gray Eagle. These two systems are close to each other and at “Homestake”, our 2019 discovery, where hole HS-19-007 intersected 6.1 meters of 22.88 g/t gold. In these three zones, we believe that GRC has identified an important zone for the gold discovery and resource development, which will be one of our drilling focuses Here are the highlights of the 9 holes completed at “White Point” in 2021:

  • 13.7 meters @ 0.70 equivalent gold in the hole WP-21-002

  • 19.9 meters @ 0.56 gold equivalent and
    7.6 meters @ 0.61 equivalent gold in the hole WP-21-003

  • 36.6 meters @ 0.82 equivalent gold in the hole WP-21-005

  • 15.3 meters @ 1.40 gold equivalent in hole WP-21-006″.

Gold equivalent based on US$1,800/oz gold and US$25/oz silver. For more information on the above results, please refer to the Company’s press releases dated January 7, 2020 and December 17, 2021.

“White Point” is located in the northwest part of the property, 400 meters west of the existing Gray Eagle resource. The White Point target is a 200 meter wide zone of sheet veining that is exposed for 300 meters along its north-south strike. Drilling traced gold mineralization over 250 meters along the north-south strike and remains open to the north and south where gold was traced under post-mineral cover in holes WP-21-003 and WP -21-004. This setting is similar to that of Gray Eagle where most of the resource is located under post-mineral cover.

The 2022 drilling program will seek to develop an initial resource at White Point by drilling for extensions to the north and south, as well as testing potential parallel systems, as historic workings are scattered over 500 meters to the north.

Development of the Nevada Gold Targets:

Gray Eagle flanked by White Point and Homestake are part of Drill Focus 2022

Plan map showing White Point and Gray Eagle drilling

Point plan map with drill traces

Aerial view of White Point Grade Shell showing zone >0.2 g/t Au

Cross section showing the southernmost drill holes at White Point

Qualified person
The qualified person on the Gold Springs project is Randall Moore, executive vice president of exploration for Gold Springs Resource Corp. and it has reviewed and approved the contents of this press release.

About Gold Springs Resource Corp.
Gold Springs Resource Corp. (TSX: GRC) and (OTCQB: GRCAF) are focused on exploring for and expanding the gold and silver resources of its PEA-stage Gold Springs project located on the border of Nevada and Utah, in the USA. The project is located in the prolific Great Basin of the western United States, one of the best mining jurisdictions in the world.

Contact of Gold Springs Resource Corp. :
Antonio Canton, President and CEO
[email protected]

Forward-looking statements
Certain statements contained herein constitute “forward-looking information” under applicable Canadian securities laws (“forward-looking statements”). Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the company. Forward-looking statements may include words such as “create”, “believe”, “would”, “continue”, “will”, “promise”, “should” and similar expressions. These forward-looking statements are based on current expectations and involve various risks and uncertainties. Actual results may differ materially from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions turn out to be inaccurate. Factors that could cause results or events to differ materially from the current expectations expressed or implied by the forward-looking statements include, but are not limited to, risks in the mineral exploration industry that could affect the progress of the Gold Springs project, including possible changes in mineral resources, grade, recovery rates, metal prices, capital and operating costs and application of taxes; the availability of sufficient financing to finance the work planned or required in a timely manner and on acceptable terms; availability of equipment and qualified personnel, failure of equipment or processes to perform as intended, changes in project parameters, including water requirements for operations, as plans continue to be refined; regulatory, environmental and other risks of the mining industry described in more detail in the Company’s Annual Information Form and continuous disclosure documents, which are available on SEDAR at Assumptions made in making forward-looking statements include: the accuracy of current resource estimates and the interpretation of drilling, metallurgical testing and other exploration results; continued support for mining by local governments in Nevada and Utah; the availability of equipment and qualified personnel to advance the Gold Springs Project; the execution of the Company’s existing plans and other exploration and development programs for Gold Springs, which may change due to changes in the Company’s opinion or if new information arises that makes it prudent to modify these plans or programs.

Readers are cautioned not to place undue reliance on any forward-looking statements contained in this press release. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Unless otherwise indicated, the forward-looking statements contained in this press release describe the Company’s expectations as of the date hereof.

THE SOURCE: Gold Springs Resource Company

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