Gold Springs Resource Corp. [GRC-TSXV; GRCAF-OTCQB] has made a new 2022 discovery on the Snow target of its large 100%-owned Gold Springs project located in the United States on the border of Nevada and Utah.
Highlights include 1.98 g/t AuEq (gold equivalent) over 3.0 metres; 0.70 g/t AuEq over 27.4 metres in hole SN-22-002; AuEq based on US$1,800/oz gold, US$25/oz silver and 50% for silver recovery.
Randall Moore, executive vice-president of exploration, stated: “With this new gold discovery on the Snow target, we continue to demonstrate in 2022 the quality of our 33 targets defined to date on only 40% of the Gold Springs project. In 2021, the drill program already highlighted two new discoveries at Charlie Ross and White Point, and both targets now host a resource.
“This new discovery at Snow was primarily defined by a large CSAMT geophysical anomaly that extends north-south for three kilometres and parallels the five-kilometre-long Jumbo trend located 900 metres to the west. This target is mostly covered by postmineral material, with the exception of the very southern portion where historical workings have produced surface samples up to 3.7 g/t gold. Hole SN-22-001 deviated during downhole drilling and did not intersect the primary CSAMT target. The following hole SN-22-002 intersected the geophysical anomaly and, once again, validates our working models for identifying gold mineralization.
“We are excited to conduct follow-up drilling in the coming months on this large geophysical anomaly over 1,000 metres wide in the discovery hole area. We are currently locating new drill pads on the three-kilometre-long Snow target, which will offset the discovery hole and target the boundary structures that are expected to control the gold mineralization.”
The company has now completed 65 holes totalling 13,810 metres of the planned 21,000-metre program. Drilling has targeted the North and South Jumbo resources, the Charlie Ross resource, the Red Light, and the Snow targets.
Gold Springs is now starting to drill the first ever holes on the Horseshoe extension target located between two of the three largest historic producing mines in the district (the Horseshoe and the Homestake mines).
The Snow target is located on the Utah side of the nearly 8,000-hectare Gold Springs project and is controlled by a parallel structural zone to the Jumbo trend. Historical workings are located on the southern end of the three-kilometre-long north-south Snow fault. They consist of one mine shaft and several slot cuts that focused on the structural zone, quartz-calcite veins, breccias and stockwork veining, and have produced sample results from vein exposures as high as 3.7 g/t gold. The Snow target is very similar to the Jumbo trend in that two parallel structures, the Snow to the east and the Fitch to the west, create the structural preparation needed to develop areas of gold mineralization.
Gold Springs 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, United States. The project is situated in the prolific Great basin of western U.S., one of the best mining jurisdictions in the world.