Vancouver, British Columbia / August 6, 2020 – Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) is pleased to announce the results of a 2020 IP survey conducted by SJ Geophysics of Delta, B.C., on its South Orogrande gold-silver Property (“South Orogrande” or the “Property”) located near Dixie, Idaho. The Property is under option from EMX Royalty Corp. The results of the IP demonstrate a >2km long resistivity low (conductive) corridor which is approximately coincident with a gold-in-soil anomaly on the Property’s X-Zone. The results demonstrate a 600-800 meter wide structurally-bound corridor in which the highest gold-in-soil values are contained. It is interpreted that the corridor is underlain by gold- bearing veins and/or disseminated gold mineralization within the underlying intrusive rocks and will be a priority drill target during the 2020 drilling campaign on the Property.
The Company previously submitted a Plan of Operations (POO) with the USDA Nez-Perce Forest Service for permitting up to fifty (50) unique drill pad locations located along existing forest roads. Many of the drill pad locations in the permit application are ideally located for testing the new geophysical/geochemical anomaly within the X-Zone.
The Company also recently completed a large soil (1271 total soils) and rock sampling (84 total rocks) program over the newly expanded South Orogrande project, which included the X-Zone as well as several new blocks of claims covering numerous past-producing gold mines within the Dixie district. The Company anticipates receiving the geochemical results within 3 to 4 weeks, at which time it will look to announce plans for its Phase I drill program. The soil survey focused on extending the historic 600-800 meter wide gold-in-soil anomaly at the X-Zone, which is currently four (4) kilometers in strike length, further to the south where both the geochemical and geophysical anomalies remain open.
Oliver Friesen, CEO of Gold Lion, stated: “We are very encouraged by the results of the 2020 IP survey at the X-Zone. The results are strikingly coincident with the current gold-in-soil anomaly and have highlighted a large conductive fault structure which we believe is likely the source of the anomalous gold. We look forward to receiving the results of our 2020 soil and rock sampling over the new X-Zone geophysical/structural anomaly and planning our maiden drill program on the project.”
Maps for the Project can be found on the Company’s website at the following URL:
Agnes Koffyberg, P.Geo., is the Qualified Person as defined by National Instrument 43-101 who has reviewed and approved the technical data 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/.
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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.