Vancouver, British Columbia / October 4, 2021 – Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) reports that the Dixie-Jumbo fire evacuation order has been lifted and a core drilling rig has been mobilized to the Company’s South Orogrande Property near Dixie, Idaho (“South Orogrande” or the “Property”) to test the newly-defined Horseshoe Bend target, delineated within the Property’s X Zone. Soil sampling, geological mapping and geophysical work carried out over the past two field seasons has identified a strong gold-silver exploration target defined by the strongest gold- and arsenic-in-soils anomaly on the Property. The well-defined soil anomaly, which incorporates historic data, 2020 sampling and 2021 results which have not previously been released, flanks the northeast side of the regional-scale Orogrande Shear Zone. The anomaly lies in a similar structural setting to the adjacent Friday Mine, owned by Scandinavian company Endomines AB. Figures illustrating the soil anomaly, IP geophysics and interpreted geological structures, including the Orogrande Shear Zone and adjacent Friday deposit, can be found at the following link:
Three diamond drill holes are planned to test a conductive geophysical corridor underlying the soil anomaly at the Horseshoe Bend target. The holes will be drilled from two pads, spaced 200 meters apart along a forest service road. Two ~1,700-foot-long holes will be drilled toward the southwest, underneath the strongest portion of the soil anomaly and terminating at the Orogrande Shear Zone. One other hole will be drilled in the opposite direction, targeting the northeast half of the geophysical anomaly which is overlain by river gravels that could not be tested by soil sampling. Approximately 3,850 feet of drilling is planned for the three holes at Horseshoe Bend. A table of planned hole collars is presented below. Note that the current drill plan may be adjusted based on visual interpretations in the first holes drilled.
Table 1 – Planned Hole Collar Coordinates
The Company continues to await receipt of a drill permit on its nearby Erickson Ridge project and is in frequent communication with the Minerals and Geology Managers at the Nez Perce Forest Service office. If a drill permit is received for Erickson Ridge, some meters from the South Orogrande drill program may be diverted to Erickson Ridge, to allow testing of high priority targets on that property as well.
Chris Paul, CEO, comments: “The major Dixie-Jumbo wildfire caused a significant delay to our exploration plans on the Property this summer. Drilling would have commenced sooner had it been safe to do so. Regardless, we are grateful to now be carrying a drill program to test the prospective Horseshoe Bend target, which is the culmination of two field seasons of groundwork on the Property. The similar structural setting to the Friday deposit adds significant confidence to the target. The area being tested is just a small portion of the overall geochemical anomaly and any success from this maiden drill program will ultimately lead to a larger second phase of drilling.
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, Robber Gulch, Cuteye and the Fairview Properties located in Idaho and British Columbia. For more information please visit: https://goldlionresources.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
Christopher 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.