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GGL Resources Corp. Announces Private Placement, Continues Field Work and Initiates Drill Permitting at Gold Point Project, Nevada
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About this update from Ggl Resources Corp.
[{"type":"text","content":"GGL Resources Corp. Announces Private Placement, Continues Field Work and Initiates Drill Permitting at Gold Point Project, NevadaNot for dissemination or distribution in the United States and not for distribution to United States newswire servicesVANCOUVER, BC / ACCESSWIRE / October 7, 2020 / GGL Resources Corp. (TSXV:GGL) (\"GGL\" or the \"Company\") announces a non-brokered private placement offering (the \"Offering\") of up to $1,800,000. The Offering will consist of the sale of up to 10,000,000 common shares at a price of $0.18 per share. Insiders may participate in the private placement and finders' fees or brokers' commissions may be paid in accordance with TSX Venture Exchange policies.All securities issued as part of the Offering will be subject to a hold period in Canada of four months plus one day from closing. The proceeds from this private placement, which is subject to TSX Venture Exchange acceptance, will be used for exploration and development activities on the Company's exploration projects and for general working capital purposes.Gold PointGGL is pleased to announce it has mobilized a field crew to conduct geological mapping, sampling and site surveys, and has completed LiDAR and ground geophysical surveys at its past-producing Gold Point gold/silver project in the prolific Walker Lane Trend, southwestern Nevada.This Phase 1 field program is designed to confirm the location of surface workings, characterize vein exposures and assess accessibility of historical underground workings so that permit applications can be finalized for a more comprehensive follow-up program.The Phase 2 program will comprise of RC drilling, and, if practical, mapping and sampling of accessible underground workings. The first priority of the drill campaign will be to test the depth and strike potential of developed veins as well as nearby structures that have seen little or no sub-surface exploration. Once the nature of the known veins is understood, drilling will explore more distal targets and geophysical anomalies in overburden covered parts of the property.The Gold Point project is accessible via highway 774 and serviced by electricity. It hosts a camp-scale precious metal system that consists of numerous gold and silver rich quartz veins. These high-grade veins are typically 1 to 2 m in width and locally up to 7 m wide. Two veins w...