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New Listing: Gold Lion Resources Inc. (CSE:GL)

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The company has an option to earn 100% of the Fairview property, subject to a 2% NSR royalty, by making cash payments totalling $32,000 and spending a total of $950,000 on exploration expenditures, in various stages by December 31, 2022.

Additional Information:

Company: Gold Lion Resources Inc.
Website: http://www.GoldLionResources.com
Stock Symbol: CSE:GL
Date Published: Nov 13, 2019
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Gold Lion Resources Inc. is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “GL”.

The company has an option to earn 100% of the Fairview property, subject to a 2% NSR royalty, by making cash payments totalling $32,000 and spending a total of $950,000 on exploration expenditures, in various stages by December 31, 2022.

The Fairview property is located in the south-central interior of British Columbia, about 20 kilometers east of the town of Cache Creek, and 50 kilometers west of the city of Kamloops.

The Fairview property, consisting of two Mineral Tenure Online mineral titles covering an area of 2,574 hectares, can be reached via the Trans Canada Highway, as the southern part of the Fairview property straddles the highway.

Access to the area of historic work on the property is via a dirt road that branches north off the highway.

The earliest recorded work on the property took place sometime in the 1940s and is described in the 1951 Geological Survey of Canada.

The Fairview group of claims was listed as a zinc prospect and consisted of three different workings; one near the highway; the second about 1,000 meters to the northwest, which was likely the Fairview showing, and a third another 152 meters further north.

The property has been the subject of exploration by a number of different operators over the years.

Gold Lion carried out mineral exploration on the property in December 2018 and February 2019.

The main target type on the property is a skarn-hosted copper-iron deposit, similar to the Craigmont deposit.

The December exploration program included a reconnaissance prospecting survey of rock sampling with the February work comprising an airborne magnetometer survey flown over the property.

Two of the rock samples collected at the Main zone showed 1.23% copper, 0.25% zinc, 6 parts per million silver, with the second sample showing 1.47% copper, 1.77% zinc, and 6 parts per million silver.

The NI 43-101 completed in March 2019 recommended a two phase exploration program, with phase one consisting of a thorough review and compilation of the prior work done on the property, along with prospecting, geological mapping and soil sampling, and a IP survey.

Phase two, if warranted by the results of phase one, consisted of a drill program to examine targets generated from the results of phase one.

The estimated budget for phase one is $110,000, and the estimated budget for phase two is $226,000.

The company has approximately $1,150,000 available.

The shares are $0.165 bid and $0.19 offered, with no trades yet today.

For more information, please visit the company’s website www.GoldLionResources.com, contact Nikolay Vassev, CEO, at 778-772-1751 or by email at info@GoldLionResources.com.

I’m Cassandra Bolinski for Investmentpitch Media