Business

Riley Gold Strategically Increases Land Location by 50% in Tokop, Nevada, Canadian Business Journal

Vancouver, British Columbia, March 28, 2022 (GLOBE NEWSWIRE) — Riley Gold Corp. (TSX.V: RLYG) (OTCQB: RLYGF) (“”Riley Gold “ or “societyBased on recent promising results from the ongoing exploration program and the discovery of new promising areas of low sulfide epithermal mineralization in the south of the Tokop Gold Project, we have significantly expanded our land packages. Announce the increase (“Tocop”), Located in Esmeralda County, Nevada.

Tokop’s land package has increased by 10.3 square kilometers (“Square kmAnd now it’s over 31 square kilometers in total within the prolific Walker Lane trend in Nevada. Riley Gold bet a total of 123 unpatented road claims surrounding many of the potential areas of diamondbacks, ghosts, and desert blooms (see Figure 1). The allegations were bet on the interpretation and results of the exploration activities carried out at Tokop South. This includes regional geological mapping, rock sampling, soil sampling, geomagnetic and gravity surveys. The same is true for reviews of hyperspectral (hot water) alteration data.

The three line-of-sight areas of Tokop South (Ghost, Diamondback, Desert Bloom) show locally severe thermal alteration, stockwork, and surface veins. This, combined with geophysical features, suggests hydrothermally altered zones and relatively shallow depths of the target horizon. The first rock sampling performed more than 1 gram of analysis per ton (“gpt“) Gold. Soil sampling revealed a tendency for anomalous gold and extrathermal pathfinders. Part of this area has some old perspectives, shafts, and addends. The data defined these new targets and provided the basis for adding new claims.

Todd Hilditch, President and Chief Executive Officer of Riley Gold, said: “Continuous step-by-step exploration efforts focus on our results and guide us to specific drill targeting at Tokop.”

Figure 1-Maps north and south of Tokop (including line-of-sight area)

https://www.globenewswire.com/NewsRoom/AttachmentNg/6fc3d1a8-1b88-4367-bdc0-93c9badaea56

Geological overview

Recent studies at Tokop have revealed multiple styles of gold mining and host rocks. One is the intrusion-related gold system hosted by granite and carbonate units (more common in Tokop North), and the other is typically hosted by the Third Volcano (ammonia tank tuff) and the Wyman Formation. Walker lane style thermo-mineralization. Carbonate. This style of mineralization resembles a deposit about 30 miles south and east of Tokop, like the deposit in the Bullfrog area. The Bullfrog area (around Beatty, Nevada) is a hydrothermal deposit hosted by low sulfide, volcanoes and deposits, from open pit mining and underground work to the Bullfrog mine previously operated by Barrick Gold. .. Additional exploration and deposit development in the Bullfrog area includes work by Corvus Gold (now AngloGold), Coeur Mining, Kinross, and Augusta Gold Corp.

About Riley Gold Corporation.

Riley Gold is an exploration and development company focused on the state of Nevada, USA. The company’s main focus is on two key assets: the Tocop Gold Project within the Walker Lane Trend and the Pipeline West / Clipper Project within the Battle Mountain Eureka Trend. Riley Gold’s founders and leadership team have a proven track record of maximizing shareholder value at each stage of the mining life cycle (exploration, development, production).

Qualified person

This news release is by Charles Sulfrian, CPG, Exploration Manager at Riley Gold. And reviewed and approved by “Qualified Persons” as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. Qualified personnel have not completed sufficient work to validate Tokop’s historical information, especially with respect to past drill and tip sample results. However, qualified personnel believe that the results of drilling and analysis have been completed according to industry standard practices. This information indicates the potential for Tokop’s exploration, but may not represent the expected results.

Please contact us for more information.

Todd Hilditch
Chief executive officer
Tel: (604) 443-3831

or

Mars Investor Relations
Tel: (778) 999-4653
RLYG@marsinvestorrelations.com

Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this release.

Precautions regarding future prospects

The specific disclosures in this release constitute “forward-looking information” in the sense of Canadian securities law (such statements are referred to as “forward-looking statements”). Forward-looking statements are not historical facts and are not always, but are generally identified by the following words: expectations, plans, forecasts, beliefs, intentions, estimates, projects: , Assuming, potential and similar expressions. Forward-looking statements include statements about Tokop’s exploration program, where risks, uncertainties, and actual results, performance, prospects, and opportunities include drilling results, by such forward-looking statements. Includes other factors that may differ materially from those expressed or implied. , Sampling, geophysics, interpretation, and future exploration plans at Tokop. Factors that may cause actual results to differ materially from these forward-looking statements include potential variations in the nature, quality and quantity of the deposits, and our inability to obtain the necessary permits and consents. Includes, but is not limited to. Or the approval required for the planned activity and the company’s inability to raise the necessary capital or to fully execute the business strategy. Readers should refer to our public records available on SEDAR (www.sedar.com). We believe that the assumptions and factors used in making forward-looking statements are reasonable, but we should place undue reliance on these statements that apply only as of the date of this news release. And there is no such guarantee. The event does not occur within the disclosed time frame or at all. Except as required by the Securities Act and the policies of the TSX Venture Exchange, we disclaim any intention or obligation to update or revise any forward-looking statement as a result of new information, future events, etc.


CBJ News Maker

Riley Gold Strategically Increases Land Location by 50% in Tokop, Nevada, Canadian Business Journal

Source link Riley Gold Strategically Increases Land Location by 50% in Tokop, Nevada, Canadian Business Journal

Related Articles

Back to top button