Business
Gold Lion Resources Provides Exploration Update; Closes Definitive Agreement to Acquire Ohadi GeoEx Inc.
Vancouver, British Columbia - TheNewswire - July 15, 2020 - Gold Lion Resources Inc. ("Gold Lion" or the "Company") (CSE:GL) (CNSX:GL.CN) (OTC:GLIOF) (FWB:2BC)
About this update from Panther Minerals Inc.
[{"type":"text","content":"Vancouver, British Columbia - TheNewswire - July 15, 2020 - Gold Lion Resources Inc. (\"Gold Lion\" or the \"Company\") (CSE:GL) (CNSX:GL.CN) (OTC:GLIOF) (FWB:2BC) is pleased to announce that further to the news release dated July 9, 2020, it has closed the previously announced agreement to acquire, through the purchase of a private Idaho corporation, four additional gold properties which lie to the south of Gold Lion's South Orogrande property located near Dixie, Idaho. The Company acquired all issued and outstanding shares of the Idaho company in exchange for issuing an aggregate of 2,600,000 common shares of Gold Lion priced at $0.56 per share to the Idaho company's shareholders. Each of the selling shareholders was arm's length to Gold Lion. The common shares issued as payment for the Idaho company have a statutory four month and one day hold period that expires on November 14, 2020. No finder's fees were paid in connection with the transaction. Exploration Update The Company is also pleased to provide an update on the work programs recently completed on its portfolio of gold exploration projects located in Idaho, USA. High-resolution Volterra 3D array Induced Polarization (IP) geophysical surveys covering 25.85 line-km and 41.1 line-km were recently completed over its Erikson Ridge, and South Orogrande projects respectively. Additionally, 1,271 soil samples were collected on the South Orogrande Property covering the IP survey area as well as to the south where Gold Lion recently acquired an additional 40 lode claims (See Gold Lion news release dated June 12th, 2020) which cover the projected extension of the X-zone Au-in-soil anomaly. At Robber Gulch, Gold Lion has staked additional ground which covers silica and jasperoid altered outcrops discovered while investigating a new gold-in-soil anomaly on trend to the south of the Company's claim boundary. The staking increases the strike length of known Carlin-type alteration and mineralization to over 2 kilometers from historic drill hole AC-4. Additionally, the company completed a second high-resolution geochemical program which saw the collection of 943 additional samples infilling and extending the strongest Au-in-soil anomaly identified by the recent work program (See Gold Lion news release dated June 16th, 2020). The results of all above programs will be released once the ...