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Gold Lion Resources Submits Drill Permit Applications for South Orogrande and Erikson Ridge
VANCOUVER, British Columbia, May 05, 2020 (GLOBE NEWSWIRE) -- Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) is pleas
About this update from Panther Minerals Inc.
[{"type":"text","content":" VANCOUVER, British Columbia, May 05, 2020 (GLOBE NEWSWIRE) -- Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE: GL) (OTC: GLIOF) (FWB: 2BC) is pleased to announce that it has submitted drill permit applications for its South Orogrande and Erikson Ridge gold projects located near Elk City, Idaho, to the local United States National Forest Service division. The proposed permit applications would allow Gold Lion to establish up to 50 drill sites at South Orogrande, and up to 62 drill sites at Erikson Ridge. Both permit applications fall under the categorical exclusion provision available with the United States National Forest Service. The categorical exclusion provision is the most expedited permitting process available and the Company anticipates receiving full permits by fall 2020. South Orogrande Drill Plan The South Orogrande Property is centered around the Monday and X-Zones, two undrilled 1.5 x 3 km and 5 x 1.5 km gold-in-soil anomalies with coincident aeromagnetic, induced polarization, and DIGHEM geophysical anomalies in areas of minimal outcrop and widespread placer gold occurrences. Drill holes included in the permit application are located mostly along existing roads and focus on the highest tenor gold-in-soil anomalies within the X-Zone. Additionally, two holes located at the northeast extent of the Monday Zone were included in the application that target the north-south oriented Monday Fault Zone which straddles the property boundary with Endomines’ Friday Mine, where a historic drill hole intercepted 20.1m of 2.1g/t Au (incl. 6.4m of 5.5g/t Au)1. Erikson Ridge Drill Plan The target at Erikson Ridge is shear-hosted (mesothermal) gold mineralization located within the productive Orogrande Shear Zone which cuts northeast-southwest through the center of the Property for a combined length of over 6 km. The Property is centered on a 1980’s era near surface oxide-gold resource which was discovered due to a small erosional window through thin post-mineral cover where mineralization is exposed at surface. Drill holes included in the permit application are focused on confirmation and expansion drilling within the historic resource, as well as targeting extensions along strike within the Orogrande Shear Zone where no modern systematic exploration has been completed. An IP survey will be completed over seve...