August 20, 2024, 9:25 a.m. EDT | Source: Green River Gold Corp.
Highlights of the press release:
- Additional mining equipment has been added to more than double throughput
- There are plans to further expand production in the future and add additional placer mining operations to provide the Company with additional cash flow.
Edmonton, Alberta–(Newsfile Corp. – August 20, 2024) – Green River Gold Corp. (CSE: CCR) (OTC Pink: CCRRF) (the “Company” or “Green River”) has made steady progress since commencing mining operations in late June 2024, achieving promising results which have led to strategic decisions to strengthen our production capabilities.
About Green River Gold Corp.’s Mining Plan
In recognition of the positive results achieved to date, Green River Gold Corp. has added a second drum (see Figure 1 below) and additional support equipment to the placer mining operation. This strategic expansion is expected to more than double production capacity for the remainder of the current mining season. This decision is consistent with the Company’s commitment to maximizing resource recovery while adhering to sustainable practices that benefit both the environment and our stakeholders.
Figure 1. Placer mining equipment on the Wabi claim
To view an expanded version of this graphic, please visit:
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In addition to this expansion, the Company is actively laying the groundwork to expand its mining operations to multiple locations in future seasons. This diversification strategy is designed to optimize resource utilization, mitigate risk and promote further growth and cash flow, cementing Green River Gold Corp.’s position as a robust and forward-looking player in the mining sector.
Wabi’s placer gold mining claims are located on the Swift River, approximately 45 minutes from Green River’s headquarters in Quesnel, British Columbia. The placer gold mining project is designed to provide the Company with immediate cash flow while it continues to explore its long-term mineral growth projects focused on critical minerals and precious metals. The Company has very strong growth platforms with the Quesnel Nickel Critical Minerals Project and the Fontaine Gold and Kymar Silver Projects.
Green River owns six contiguous placer mining claims totaling 255.94 hectares that straddle the Swift River, a river that has a significant placer mining history dating back to the Cariboo Gold Rush in the 1870s. The Company also owns placer mining claims on several other creeks and rivers in the Cariboo mining district. Several of the placer claims are already permitted and bonded. In total, Green River owns 1,110 hectares of placer mining claims and over 228 square kilometers of mineral claims.
Green River is uniquely positioned to mine the placer deposits due to its relationship with its private partner, Gold Rush Supplies Inc. The two companies share space in a fully equipped shop and office building in Quesnel, approximately 45 minutes from the Swift River placer deposits. Gold Rush Supplies Inc. builds placer mining equipment and supplies mining supplies from a retail and shop location at the shared facility. The fully equipped shop and warehouse provide an excellent location to conduct mining operations and handle all related administrative and management functions. The Company’s Qualified Person, Stephen P. Kocsis (P.Geo), has decades of experience in placer gold mining and has designed and operated placer mining operations himself.
“We are encouraged by the progress we have made since starting our operations and the results we are seeing are a testament to the hard work and dedication of our team,” stated Perry Little, President and CEO of Green River Gold Corp. “The strategic decision to integrate a second drum reflects our commitment to increasing production and achieving our corporate objectives, while our plans to explore and mine multiple sites next season will position us for sustained success and expansion. The success of our longer-term projects, including the Quesnel Nickel Project, will only be enhanced by any operating cash flow from placer mining. Our other projects, including Quesnel Nickel, are also progressing. An update on drilling and exploration will be provided shortly.”
Qualified Person:
Stephen P. Kocsis (P.Geo) is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical information in this news release.
About Green River Gold Corp.
Green River Gold Corp. is a dynamic mining company committed to sustainable resource development and innovation in mineral exploration. With a strategic focus on identifying and advancing high potential mining projects, Green River Gold Corp. is committed to creating long-term value for shareholders and stakeholders.
Green River Gold Corp. is a Canadian mineral exploration company focused on its 100% owned Fontaine gold projects, Quesnel nickel/magnesium/talc projects and Kymar silver project, all located in prestigious mining districts in British Columbia.
The Fontaine Gold and Quesnel Nickel properties cover an area of over 200 square kilometres and extend over 32 kilometres of the Barkerville and Quesnel Terranes and are adjacent to Osisko Development Corp.’s mineral claim group which includes a proposed mine site at its Cariboo Gold Project.
The Kymar Silver Project is located in southeastern British Columbia, approximately 28 kilometers west of the town of Invermere in the Golden Mining Division. The property consists of two mineral claims totaling 1,625 hectares along the southeast flank of Mount Catherine.
In addition, Green River is actively mining some of its 1,110 hectares of placer mining claims in Quesnel’s Cariboo Mining District.
For further information on Green River Gold Corp., please visit its SEDAR profile at www.sedarplus.ca.
Forward-Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation. Words such as “anticipates,” “expects,” “believes,” “estimates,” “could,” “intends,” “may,” “plans,” “predicts,” “projects,” “will,” “would” and other similar expressions or the negative of these terms generally identify forward-looking information. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information.
In addition, the forward-looking information contained in this press release is based on assumptions that management believes are reasonable. Readers are cautioned not to place undue reliance on forward-looking information because it is inherently uncertain and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information contained in this press release is made as of the date hereof and, except as required under applicable securities laws, the Company undertakes no obligation to update or revise such information to reflect new events or circumstances.
The Company’s securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This publication is for information purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved the contents of this press release.
To view the original version of this press release, please visit https://www.newsfilecorp.com/release/220547
