Gold Springs Resource Increases its 2021 Drilling Program to 13,300 meters

Rhea-AI Summary

Gold Springs Resource Corp. (TSX:GRC, OTCQB:GRCAF) has announced an increase in its 2021 drilling program to 13,300 meters at the Gold Springs project, located between Nevada and Utah. The company plans to drill at the White Point target, which is near high-grade gold veins with historical results over 18 g/t Au. The initial drill program will start in August 2021. Previous successful drilling revealed impressive intercepts, including 5.30 g/t gold over 19.8 meters. The company is optimistic about its exploration potential amidst positive mining conditions.

Positive

• Increased drilling program to 13,300 meters, indicating robust exploration activity.
• Introduction of the White Point target, featuring a 200-meter wide zone of gold-bearing veins.
• Historic high-grade gold values exceeding 18 g/t Au at White Point suggest significant mineral potential.
• Successful earlier drilling at South Jumbo resource with high-grade intercept of 5.30 g/t over 19.8 meters.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / July 15, 2021 / Gold Springs Resource Corp. (TSX:GRC, OTCQB:GRCAF) (the "Company" or "GRC") is pleased to announce that it has increased its 2021 drilling program to 13,300 meters at the Gold Springs project located on the border of Nevada and Utah, USA, in the prolific Great Basin of Western USA, one of the best mining jurisdictions in the world, both from a political and environmental point of view.

Antonio Canton, President and CEO, stated "We are very excited to expand our program to include drilling on the promising White Point target, as well as to follow up our successful drilling earlier in the year at the South Jumbo resource, especially our high grade intercept of 5.30 g/t gold over 19.8-meters in the drill hole E-21-012. We are currently drilling our first pass test at the Charlie Ross target prior to moving to White Point in August 2021."

White Point Target

White Point is located just 400 meters west of the Grey Eagle resource and is characterized by a +200 meters wide zone of sheeted gold-bearing veins.

Historic workings at White Point reveal very high-grade gold veins which have returned values of over 18 g/t Au and historic mines where very high-grade veins were exploited in the early 1900s.

This initial drilling program will be a first pass test and start in August 2021. Any successes from this program will be followed by a second pass drill program to further identify the extent of mineralization as well as to conduct infill drilling to provide critical information on the continuity of the system.

Randall Moore, Executive Vice President of Exploration, stated:"We are excited to be drilling White Point as we believe this target has significant potential given the high grades identified in some of the veins and the dimensions of the exposed system".

For more information on White Point target, please visit:

https://goldspringsresource.com/projects/the-white-point-target/

Qualified Person

Randall Moore, Executive Vice-President Exploration, Gold Springs Resource Corp., is the Company's designated Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and he has reviewed and approved the scientific and technical information contained in this news release.

About Gold Springs Resource Corp.

Gold Springs Resource Corp. (TSX: GRC and OTCQB: GRCAF) is focused on the exploration and expansion of the gold and silver resources of its Gold Springs project located on the border of Nevada and Utah, USA. The project is situated in the prolific Great Basin of Western USA, one of the best mining jurisdictions in the world.

Gold Springs Resource Corp. Contact:

Antonio Canton, President and CEO

acanton@goldspringsresource.com

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 business. Forward-looking statements may include words such as "creating", "believe", "would", "continue", "will", "promising", "should", and similar expressions. Forward-looking statements in this news release include, without limitation, the potential of the White Point. These forward-looking statements are based on current expectations and entail various risks and uncertainties. Actual results may materially differ from expectations if known and unknown risks or uncertainties affect our business or if our estimates or assumptions prove inaccurate. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, risks of the mineral exploration industry which may affect the advancement of the Gold Springs project, including possible variations in mineral resources, grade, recovery rates, metal prices, capital and operating costs, and the application of taxes; availability of sufficient financing to fund planned or further required work in a timely manner and on acceptable terms; availability of equipment and qualified personnel, failure of equipment or processes to operate as anticipated, changes in project parameters, including water requirements for operations, as plans continue to be refined; regulatory, environmental and other risks of the mining industry more fully described in the Company's Annual Information Form and continuous disclosure documents, which are available on SEDAR at www.sedar.com. The assumptions made in developing the forward-looking statements include: the accuracy of current resource estimates and the interpretation of drill, metallurgical testing and other exploration results; the continuing support for mining by local governments in Nevada and Utah; the availability of equipment and qualified personnel to advance the Gold Springs project; execution of the Company's existing plans and further exploration and development programs for Gold Springs, which may change due to changes in the views of the Company or if new information arises which makes it prudent to change such plans or programs. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, the Company assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Unless otherwise indicated, forward-looking statements in this press release describe the Company's expectations as of the date hereof.

SOURCE: Gold Springs Resources Corporation

View source version on accesswire.com:
https://www.accesswire.com/655720/Gold-Springs-Resource-Increases-its-2021-Drilling-Program-to-13300-meters

FAQ

What is Gold Springs Resource's 2021 drilling program increase?

Gold Springs Resource has increased its 2021 drilling program to 13,300 meters at the Gold Springs project.

When will the drilling at the White Point target begin?

Drilling at the White Point target is scheduled to start in August 2021.

What are the historical gold values at the White Point target?

Historical workings at White Point have reported gold values over 18 g/t Au.

What were the results of previous drilling at South Jumbo resource?

Previous drilling at South Jumbo resource yielded a high-grade intercept of 5.30 g/t gold over 19.8 meters.

What is the significance of the Gold Springs project location?

The Gold Springs project is located in the Great Basin, one of the best mining jurisdictions globally.