VANCOUVER, BC, May 10, 2021 /CNW/ – Gold Line Resources Ltd.
A qualified person has not done sufficient work to classify the historical estimate discussed above as a current mineral resource and Gold Line is not treating the historical estimate as a current mineral resource.
The Oijärvi Greenstone Belt is approximately 35 km in length and is a relatively under-explored region, with only 217 holes, with an average depth of ~150 meters, in closely situated clusters or fences, having been drilled outside of the drill defined Kylmäkangas deposit itself and represents a low drill density in an otherwise prospective ‘belt-scale’ property.
The Company believes that the Oijärvi Extension will be a highly prospective addition to the Gold Line portfolio, and that the relatively low amount of exploration within the Belt to date could result in significant upside potential for Gold Line.
A qualified person has not done sufficient work to classify the historical resource estimate discussed above as a current mineral resource and Gold Line is not treating the historical estimate as a current mineral resource.
Gold Line has not performed sufficient work to verify the projects’ historical drill results and historical resource estimate but considers this information as reliable and relevant based upon independent field review, including inspection and resampling of historical drill core.
Gold Line Resources is focused on acquiring mineral properties with exceptional exploration potential in the most prolific gold producing regions of Fennoscandia, and further delineating the historic exploration results of these projects.
High-grade gold occurrences across the Company’s properties in Sweden were identified by state run programs in the 1970’s and 1980’s with little to no modern exploration.
This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Gold Line’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
Such factors and risks include, among others: that there is no assurance that the parties will obtain the requisite approvals for the completion of the Transaction and the Agnico Transaction, and there is no assurance that the Transaction and the Agnico Transaction will be completed as anticipated, or at all, or that the anticipated benefits or synergies of the Transaction and the Agnico Transaction will be realized; following completion of the Transaction and the Agnico Transaction, Gold Line may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect Gold Line’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of Gold Line’s securities, regardless of its operating performance; and the impact of COVID-19.