Gold Springs Resource Corp. released a significant updated mineral resource estimate for its Gold Springs Project, taking into consideration all the 2021 drilling results at North and South Jumbo, Tremor, Charlie Ross, and White Point. Only by visiting the area, one can realize the magnitude of its project, which covers approximately 8,000 ha and includes not 1 or 2 targets, but 33 high-potential gold targets, 6 of which already host a resource estimate of 1,005,003 M&I oz and 144,379 inferred oz of gold equivalent open to expansion and covering only 15% of the property.

As the resources are near the surface, they could be mined by shallow open pit and a technically simple heap-leach operation. The size of the Gold Springs Project, the important number of gold targets, the technical data available so far, the water rights, and its location in one of the best mining jurisdictions in the world, are strong indicators that GRC has a large gold project with a significant growth potential. The inferred resource is in addition to the measured and indicated resource.

Numbers have been rounded, which may lead to some numbers not adding up exactly. Gold Equivalent calculation uses a gold/silver price ratio of 72 ($1,800/$25). Mineral resources that are not mineral reserves do not have demonstrated economic viability.

The resource estimate reflects gross metal content that is not adjusted for metallurgical recoveries. The new mineral resource estimate is an update from the 2020 mineral resource estimate to mainly incorporate the drilling information of the 2021 drill program conducted at the South and North Jumbo, Tremor, Charlie Ross and White Point deposits.