Gold Line Announces Completion of Winter Base of Till Program at Storjuktan and Blåbärliden
Vancouver, British Columbia, May 31, 2021 Gold Line Resources Ltd. (TSX-V: GLDL) (OTC: TLLZF) (“Company”) is pleased to provide an exploration update for the Storjuktan and Blåbärliden gold projects in the Gold Line mineral belt of north-central Sweden, where Base of Till (“BoT”) sampling continues to delineate further gold anomalies in both projects.
The Company has completed approximately 360 shallow drillholes of the planned 474 drillhole locations for the BoT program at Storjuktan and Blåbärliden that began in November of 2020 with the aim of testing geochemical anomalies generated over the previous two field seasons. The drilling was done using a percussion hammer drill rig to drill through the glacial till overburden and 3 meters into bedrock. Samples were collected through the till profile as well as in the underlying bedrock. This is intended to enable the Company to identify gold anomalies in the bedrock as well as any dispersion fans present in the glacial transported material.
A key focus of the BoT programs at Storjuktan was the area south of the historic diamond drill target at Långtjärn. In the late 1970’s and early 1980’s the Geological Survey of Sweden conducted regional exploration for gold throughout the region and drilled 16 holes at the Långtjärn prospect. The resultant gold intercepts improved in thickness as well as grade to the south and the drill defined zone of mineralization still remains open in that direction.
At Blåbärliden BoT drilling was concentrated around the extensions of the Gubbträsk Björkbäckmyran targets. Like Långtjärn, the Gubbträsk target was a focus of historical drill campaigns that delineated a near surface zone of gold mineralization. Gold mineralization was also recognized at Björkbäckmyran by historical exploration programs.
Results from the 2020-2021 BoT programs are currently being compiled and synthesized. These will be discussed in a later News Release. Next steps include follow-up diamond drilling later summer/fall 2021, and drilling of the remaining BoT holes and additional sampling programs in the winter months of 2021-2022.
Storjuktan is located at the northern extension of the Gold Line and was actively explored for gold in the late 1970s and early 1980s. Several of the historical diamond drill-holes intersected gold in what is now known as the Långtjärn prospect. The mineralisation in the historic drilling continued to improve in thickness as well as grade to the south when the historic programs were curtailed, with mineralization remaining open at depth and along the projection of the mineralized trend to the south.
At Storjuktan, the Company completed 191 of the 296 planned BoT holes. The program was designed to be completed in two seasons and is focused on the southern extension of the Langtjärn prospect as well as the promising Boulder City prospect. The remaining BoT holes will be drilled in the next winter drilling season in addition to other targets.
At Blåbärliden the Company completed 169 of the 182 planned surficial drillholes. The program targeted extensions of the Gubbträsk gold mineralization as well as the Björkbäckmyran prospect. The Björkbäckmyran prospect was historically explored with surface till sampling and some detailed BoT programs which yielded encouraging results that were never followed up. The Company is targeting extensions of the historical work in both target areas.
ABOUT GOLD LINE RESOURCES LTD.
Gold Line Resources is focused on acquiring mineral properties with exceptional exploration potential in the most prolific gold producing regions of Fennoscandia, and further delineating the historic exploration results of these projects. The Company currently holds a prospective portfolio of advanced and early-stage gold exploration properties in Sweden, including the Kankberg Norra property in the Skellefteå Belt; and the Långtjärn property (comprised of the Storjuktan North and Storjuktan South licences), the Blåbärliden property, and the Paubäcken property, all located within the Gold Line mineral belt, in Sweden.
High-grade gold occurrences across the Company’s properties in Sweden were identified by state run programs in the 1970’s and 1980’s with little to no modern exploration. Historical drill intercepts include 11.4 g/t Au over 6.0m at the Blåbärliden property1, and areas of high-grade gold mineralization sampled in boulders and outcrops of 60+ g/t Au2 at the Paubäcken Project.
On behalf of the Board of Directors of Gold Line Resources,
CEO & Director
For further information:
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
The scientific and technical information in this news release has been reviewed and approved by Michael Dufresne, M.Sc, P.Geol., P.Geo, Principal and President of Apex Geoscience Ltd, a qualified person as defined by National Instrument 43-101.
FORWARD LOOKING INFORMATION
This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Gold Line’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this news release include, among others, statements relating to expectations regarding the business, exploration and development plans of Gold Line, planned exploration and development activities, the results of exploration and development activities, and other statements that are not historical facts. Forward-looking statements are based on Gold Line’s current beliefs and assumptions as to the outcome and timing of future events, including, but not limited to, that the exploration and development activities will be completed as planned, and that the results of the exploration and development activities will be as anticipated. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: that exploration and development activities will not be completed as planned; that the results of exploration and development activities will not be as anticipated; Gold Line may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect Gold Line’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of Gold Line’s securities, regardless of its operating performance; and the impact of COVID-19. The forward-looking statements contained in this news release represent the expectations of Gold Line as of the date of this news release and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Gold Line undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.