Gold Lion Completes Drilling at South Orogrande and Intersects Strong Alteration, Veining and Sulfide Mineralization
Vancouver, December 23, 2021 - Gold Lion Resources Inc. ("Gold Lion" or the "Company") (CSE:GL) (CNSX:GL.CN) (OTC: GLIOF) (FWB: 2BC) announces that the 2021 drill program on it's South Orogrande Property ("South Orogrande" or the "Property") has been completed, and all samples have now been received at the lab. The Property is located along the Orogrande Shear Zone near Dixie, Idaho. The Company's inaugural drilling program on the Property was challenged by a large wildfire which resulted in a late Fall start, followed by severe supply chain disruptions and a lack of labour market participation brought on by the Covid-19 pandemic. As a result, the drilling company which was contracted was unable to provide suitable drilling equipment and personnel to adequately carry out the contract and only a single hole was drilled which reached just half of its target depth. The hole was drilled at a shallow dip of -45° and was designed to test the newly defined Horseshoe Bend target located within the Property's X Zone. The hole was prematurely terminated by the contractor at 881 feet (269 meters) in strong mineralization, approximately 1000 feet (305 meters) short of the planned target depth. The final 171 feet (52 meters) of the hole, from 710 to 881.50 feet (216.5 to 268.5 meters), displayed intense alteration, veining and sulfide mineralization. A link to photos of the core can be found at: https://goldlionresources.com/projects/south-orogrande-property/south-orogrande-so-21-01-core-photos/
Visual inspection of core samples from 710 feet (216.5 meters) onwards are strongly encouraging and significantly, IP geophysics indicated the hole had only just entered the conductive Orogrande Shear Zone shown by the low resistivity values in blue on the IP map. Links to high resolution figures posted to the Company's website can be found at:
https://goldlionresources.com/projects/south-orogrande-property/south-orogrande-phase-figures/
Chris Paul, CEO, comments: "The Covid-19 pandemic combined with a bad wildfire season presented certain challenges to Gold Lion and many other exploration companies operating in the western United States throughout 2021. These challenges hindered our ability to begin drilling on our South Orogrande Property in a timely manner, as well as diverted the attention of the Nez-Perce Forest Service staff responsible for permit applications on Erickson Ridge. The associated supply chain disruptions and reduction in the labour participation rate also reduced the availability of drilling personnel and equipment.
Despite these challenges, the Company has persevered and ended with an optimistic outlook for its South Orogrande Property, following the partial testing of its maiden drill target. We are excited for the assay results which we expect to receive early in the new year and look forward to 2022, when the Company anticipates being fully permitted for drilling on Erickson Ridge, as well as additional follow up drill testing at our South Orogrande Property. We plan on securing a first-rate drilling contractor well in advance of the 2022 field season.
Given the size of the overall gold-in-soil anomaly on our South Orogrande Property, to see such strong alteration, veining and mineralization in the first ever diamond drillhole completed, is a very encouraging sign for Gold Lion."
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Qualified Person
Wolfgang Schleiss, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the scientific or technical information in this news release.
About Gold Lion Resources Inc.
Gold Lion Resources Inc. is a mineral exploration company actively involved in the exploration of its precious metal focused portfolio including the South Orogrande, Erikson Ridge, Cuteye and Fairview Properties located in Idaho and British Columbia. For more information please visit: https://goldlionresources.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
Chris Paul, CEO
T: +1 (250) 717-3151
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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.
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