Business
Gold Springs Resource Sells its World Copper Ltd. investment for CAD$4,364,315 and Increases its 2021 drilling program to 27,300 meters
VANCOUVER, BC / ACCESSWIRE / August 10, 2021 / Gold Springs Resource Corp. (TSX:GRC)(OTCQB:G...
About this update from Gold Springs Resource Corp.
[{"type":"text","content":"Gold Springs Resource Sells its World Copper Ltd. investment for CAD$4,364,315 and Increases its 2021 drilling program to 27,300 metersVANCOUVER, BC / ACCESSWIRE / August 10, 2021 / Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) (the \"Company\") is pleased to announce:The unconditional sale for CAD$4,364,315 of all its 13,225,198 common shares of World Copper Ltd. (WCU) held by its subsidiary Escalones Resource Corp. to Wealth Minerals Ltd. (WML), with payment in full on or before October 22, 2021.The increase of its 2021 drilling program to 27,300 meters with the firm intention to accelerate the development of its large Gold Springs project located in Nevada and Utah (USA), one of the best mining jurisdictions in the world from a political, environmental and tax point of view.Antonio Canton, President and CEO, stated \"We are very pleased to have sold our World Copper Ltd. investment for CAD$4,364,315, as we want to be 100% focused on the rapid development of our large gold project towards a Feasibility Study\".Randall Moore, Executive Vice President of Exploration, stated: \"We are excited to increase our 2021 drilling program to 27,300 meters with 3 clear objectives:To test the possibility to expand the North Jumbo resource and to offset some of the gold intercepts from past drilling at Central Jumbo.To add drilling at Charlie Ross and White Point as we believe these 2 targets have significant potential given the high grades identified in some veins and the dimensions of the exposed system.To complete first pass drilling at North Jennie with its strong CSAMT geophysical high-resistivity anomaly and at Midnight with its wide zones of veins and the high-grade gold identified in some of them\".Charlie Ross TargetThe historical Charlie Ross shaft is located 500 meters southwest of the historical Pope mine.Historical reports describe the Charlie Ross mine as a 53-meter shaft with a 12-meter talc zone containing streaks of gold tellurides and sylvanite with bonanza gold grades. Old reports indicated the presence of high-grade gold from the Charlie Ross mine in the range of 100 ounces/ton. The Company has found visible gold from the dump of the open shaft.The Company collected one surface sample from a massive quartz vein boulder that returned gold values of 17.2 g/t Au in an area of mixed tuff float cover.The geologic setting ...