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Gold Line Announces Results 2021 Drill Program At Paubäcken Property

Vancouver, BC, Canada – April 20, 2022 – Gold Line Resources Ltd. (TSX-V: GLDL) (“Gold Line” or the “Company”) is pleased to provide further results from its base of till/top of bedrock (“BoT/ToB”) drill program at its Paubäcken gold project in the Gold Line Mineral Belt in north central Sweden. 2021 BoT/ToB drilling and follow-up diamond drilling confirm structural and geophysical model and identify multiple mineralized corridors along second order structure network.

Highlights – Paubäcken Target

  • Final 117 additional BoT/ToB holes from fall 2021 drill program at Aida, Belle and Harpsund target areas
  • Follow up results at Aida target extended Au and pathfinder anomalism 500 metres (m) north along the shear zone, and discovered new Au and pathfinder anomaly on a sub parallel structure.
  • Initial BoT testing of Harpsund Ionic Leach till anomaly show elevated gold and additional pathfinder indications.  
  • In total 7.7% of bedrock samples from the 2021 BoT/ToB drilling program showed anomalous Au values over 0.1 ppm and elevated pathfinder anomalism coincident with interpreted structural corridors and gold in till anomalism
  • Results from final 2 drillhole results from maiden 5 hole 670m diamond drilling program at Aida target (PAU21004 and PAU21005)
    • PAU21004 intercepted the structure, alteration, geology observed in discovery hole PAU21003 (see Gold Line News Release dated December 27, 2021) and encountered two zones of broad low grade Au mineralization
    • PAU21005 was situated several tens of metres east of the structural trend and did not incept the targeted structural corridor

Paubäcken Property

Previous highlights from Paubacken BoT/ToB drilling included a 3-meter sample of bedrock with 3.99 grams per tonne (g/t) gold (Au) and a 1.5 metre sample with 1.425 g/t Au at the Aida target, demonstrating the presence of a blind previously unrecognized bedrock-hosted gold mineralization in the area. Gold Line Resources continued to explore several targets in the Paubäcken project area with additional BoT/ToB sampling in early fall 2021 and subsequently commenced a maiden diamond drill program at the Aida target in late fall 2021. Diamond drilling of the 1.43 g/t ToB target resulted in a 22.5 m intercept of 2.4 g/t Au including 9.5 m of 4.6 g/t Au (see Gold Line News Release dated December 27, 2021). The mineralization is mainly hosted by calcsilicate-altered amphibolite within a large shear corridor.

Previously unreleased drillholes PAU21004 and PAU21005 were drilled southeast along strike of PAU21003. Although significant mineralization was not encountered, PAU21004 intercepted similar structure, alteration, and geology. Two zones of low-grade mineralization correlate to the zone encountered in PAU21003 situated 60m along strike to the north. PAU21005 was situated 220 m southeast of PAU21004 parallel to the main structural trend and did not intercept same geology or structure. In total 670 m were drilled in 5 diamond drill holes. See Figure 1.

In addition to BoT/ToB results previously announced in Gold Line News Release November 4th, 2021, the Company has now received all BoT/ToB assay results from its 2021 campaign at the Harpsund, Belle and Aida targets:

  • All targets occur along identified structural features identified from magnetics data and BoT geology, with the anomalism broadly related to zones of structural deformation.
  • Harpsun Target: New BoT/ToB results show a cluster of 8 anomalous bedrock samples of >0.1 g/t Au (21% of the holes) and elevated As anomalism (figure 1). The drill program was designed to test a large Ionic Leach till anomaly and large area of coincident demagnetization located in an interpreted flexure within the Harpsund structural corridor. These results correspond to a ~400 m portion of a 1900 m gold and associated pathfinder element Ionic Leach till anomaly and interpreted structural corridor (see Gold Line News Release dated November 4th, 2021).
  • Belle Target: Approximately 500 meters to the southwest of the Harpsund target and 1km to the north of the already known Belle anomaly (see Gold Line news release dated November 4, 2021), the Company extended the ToB anomaly with a line of step-out holes. Twenty percent (20%) of the holes in that extension returned samples with anomalous gold values of >0.1 g/t Au (figure 1).
  • Aida Target: Follow up results at Aida target extend Au and pathfinder anomalism 500m north along Aida shear zone and discover new Au and pathfinder anomaly on a sub parallel structure. Seven samples with anomalous gold values of >0.1 g/t Au and elevated pathfinders were reported in five holes (figure 1). Drilling has confirmed gold and pathfinder anomalism along two interpreted structural trends from airborne magnetic data, including where diamond drill hole PAU21003 intersected a 53.9 gram-meter (grade-thickness) intercept (see Gold Line News Release dated December 27, 2021). The anomalies on these structural trends are priority drill targets for 2022.

In total, 201 BoT/ToB holes have been drilled at Paubacken for 2623m in 2020/2021 (170 in 2021 and 31 in 2020). Of these, 7.7% of the 402 bedrock samples collected returned with anomalous gold values of >0.1 g/t Au, all of which correspond to interpreted structural corridors. See Figure 2.

Further BoT drilling and follow up diamond drilling is planned in the 2022 exploration program to infill and extend along identified structural corridors and confirm bedrock sources of till anomalies.  

Paubäcken – Project Overview

The Paubäcken Project consists of 3 licenses (17,097 ha) that cover the central part of an emerging district in north central Sweden known as the “Gold Line Belt”. The Gold Line Belt is host to several significant gold deposits, including the nearby Barsele project (operated as a joint venture between Agnico Eagle Mines Ltd. and Barsele Minerals Corp) as well as the Svartliden mine and Fäboliden development project (operated by Dragon Mining Ltd). The Svartliden mine was in production from 2005 to 2015 and a total of 3.18 million tonnes of material grading 4.1 g/t Au was processed during its operation (http://www.dragonmining.com/svartliden). The Paubäcken Project is strategically positioned between Barsele and Fäboliden, is a few hundred meters northeast of the Svartliden mine, and features a regional shear zone with multiple untested gold anomalies.

2021 Exploration Program Overview

The Company has now drilled a total of 6,028 meters divided over 561 reconnaissance BoT/ToB holes through glacial till materials and several meters into the underlying bedrock on its Paubäcken (2624 metres), Storjuktan (1638 metres), and Blåbärliden (1799 metres) licenses. The intent of the programs were to test previously unexplored areas for signs of gold mineralization, either in the glacial till materials (dispersion signals from nearby sources of gold mineralization) or in the underlying bedrock. Initial results from till drilling at Paubäcken and Storjuktan were announced previously (see Gold Line news releases dated August 10, October 21, and November 4, 2021). Gold Line has been steadily receiving new data from its 2021 BoT/ToB campaign. The latest results include numerous newly identified clusters of bedrock samples with anomalous gold values of over 0.1 g/t distributed over several key target areas.

Sampling:

Samples were collected in accordance with industry standard best practices. Samples were collected by X Drill AB and Lejon Geo AB and submitted for preparation at the ALS Lab in Malå. Accredited control samples (blanks and accredited standards) are inserted into the sample intervals regularly. Bedrock samples are crushed to 70% less than 2mm, rotary split off 250g, pulverize split to better than 85% passing 75 microns. Pulps are analyzed at the ALS lab in Ireland with a four-acid digestions and ICP-MS finish, gold is analyzed by Fire Assay. Till samples are dried <60°C/140°F, sieved to -180 micron (80 mesh) and both fractions are retained. Sieved samples are subject to aqua-regia digestions and analyzed with full multi-element geochemical suite and ICP-MS super trace gold method.

The BoT/ToB sampling approach has been successfully utilized as an exploration technique throughout Fennoscandia for many years and remains the most widely applied tool for making new discoveries. Preeminent examples include the recent discoveries of satellite gold deposits on Rupert Resources’ Pahtavaara gold property in Finland, and Anglo American Plc’s Sakatti nick-copper discovery, also in Finland.

Notes on nearby mines and deposits:

The nearby mines, deposits and projects discussed in this news release provide context for Gold Line’s projects in the area, which occur in a similar geologic setting, but they are not necessarily indicative that the projects host similar mineralization.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Benjamin Gelber, M.Sc, P.Geo, a Qualified Person.

About Gold Line Resources Ltd.

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. Gold Line is working in one of the world’s top mining jurisdictions and emerging exploration frontiers due to its strong mineral endowment, stable tenure, straightforward permitting, favourable tax regime and supportive geopolitical landscape.

Gold Line currently holds a prospective portfolio of five gold exploration projects in Sweden: one project is in the Skelleftea belt of north-central Sweden and four projects, including the Långtjärn property, are located within the Gold Line Mineral Belt of north-central Sweden. The projects are located on a 200-kilometre Proterozoic greenstone sedimentary belt that is host to multiple gold showings and deposits

On behalf of the Board of Directors of Gold Line Resources,
Adam Cegielski
CEO & Director

For further information:
Email: investor@goldlineresources.com
Telephone: 1-800-858-9710

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

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. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: that exploration and development activities will not be completed as planned; that the results of exploration and development activities will not be as anticipated. 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. The forward-looking statements contained in this news release represent the expectations of Gold Line as of the date of this news release and, accordingly, are subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. Gold Line undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.


Figure 1: Top of Bedrock Au results (best of two assays) from BoT/ToB drilling and maiden drilling results at Aida target. ToB/BoT drilling has extended anomalism 500m north Pau21003 and identified an additional interpreted sub-parallel shear corridor with coincident Au and pathfinder anomalism.


Figure 2: ToB/BoT results from 2020/2021 drilling campaigns. Newly released results are outlined. Anomalous Au and pathfinder results observed are coincident with interpreted structural corridors

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