Green River Gold Corp. Acquires Additional Mineral Rights at the Fontaine Lode Gold Project
EDMONTON, July 29, 2021 - Green River Gold Corp. (the "Company" or "Green River") (CNSX:CCR.CN) is pleased to announce that the Company has acquired an additional 38.92 hectares of mineral rights contiguous to the Fontaine Lode Gold Project. The acquired mineral rights are host to talc and nickel mineralization (see the Sovereign nickel showing, Minfile 093A 130). The area covered by these mineral rights was subject to an exploration program targeting the potential for a commercial talc deposit during the 1980's. The exploration resulted in the preparation of a preliminary talc mining plan in 1986.1 A portion of the area that was explored for talc is located on the claims already held by Green River. The rest of the area of interest is on the newly acquired claims.
Talc is a soft mineral and is used in a variety of industries. Talc is used in the production of plastics, ceramics, paint, paper, roofing, rubber, and for other industrial uses. The U.S. Geological Survey (USGS) indicates that total sales of talc by U.S. Producers in 2020 was about 430,000 tons valued at about US $100 million. The USGS estimates total mine production worldwide in 2020 was 5,800,000 tons with about 220,000 tons produced in Canada. To the knowledge of the Company, there are no talc mines in Western Canada.
The mineral rights were acquired from an unrelated third party in exchange for 350,000 Common Shares of Green River, issued at a deemed price of $0.06.
Kyle Townsend, Mine Manager at Green River comments, "When we acquired the Fontaine Lode Gold project, we were aware of the historical talc exploration work that was done. As our data acquisition and compilation continued, we became more interested in understanding the talc potential of the property. This includes expanding our holdings in the area to encompass the historical showing on Do-Do Creek. According to historical documents this showing appears to be near surface and may be host to promising grades, which we hope to verify later this summer. While our primary focus remains gold, we are encouraged by the presence of both nickel and talc on the property."
About Green River Gold Corp.
Green River Gold Corp. acquires and develops placer mining claims and mineral claims. The Company controls a 100% interest in the flagship Fontaine Gold Project. The 8,900-hectare Fontaine Gold Project is situated 12 kilometers southwest of Barkerville. The property includes both placer and hard-rock tenures. The properties straddle an 18 km length of the Barkerville and Quesnel Terranes and are contiguous to Osisko Development Corp.'s mineral claim group containing a proposed mine location at its Cariboo Gold Project.
The Company controls a 100% interest in the 1,214-hectare Kymar Silver Project, located 28 kilometers West of Invermere, British Columbia.
The Company controls a 100% interest in placer mining projects on the Little Swift River, Sovereign Creek, Willow River, and Swift River. The Company rents placer claims to placer gold miners for cash rent, in lieu of a royalty.
Green River Gold Corp. also distributes equipment and supplies for the placer mining industry and is a Limited Partner in the Green River Gold Trading Limited Partnership, which purchases raw placer gold from miners. Those operations and mining projects are based out of a 6,000 square foot office, retail, and manufacturing facility in the heart of the Cariboo Mining District in Quesnel, British Columbia.
Additional information about Green River Gold Corp. can be found by reviewing its profile on SEDAR at www.sedar.com.
For more information contact:
Mr. Perry Little
President and Chief Executive Officer
780-993-2193
Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. The words "hope" "anticipate", "expect", "believe", "may", "should", "estimate", "project", "outlook", "forecast" or similar words are used to identify such forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumption. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain, and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Company assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Company have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.
1 https://aris.empr.gov.bc.ca/ArisReports/15729B.PDF