Economic network

Galore Resources provides update on drilling and Los Gemelos

VANCOUVER, BC /ACCESSWIRE/March 30, 2022/ Galore Resources Inc. (TSXV: GRI) (OTCQB: GALOF) is pleased to provide an update on the current drill program for the Dos Santos project, including the San Jose and Los Gemelos claims.

Drilling began February 3rd in San Jose with three holes completed for a total of 664.2 yards. Chief Geologist Gustavo Narvaez is excited about the visible features and alterations seen in the core from the three holes.

Completed holes:

  • The San José SJ-21 hole started the drilling program and was completed at a depth of 250.20 meters. This drilling intersected: 1) recrystallized limestone with phyllic alteration; 2) dikes and sills of intermediate composition with phyllic and clay weathering; 3) an interval of approximately 60 meters with multiple ore bodies (some up to 2.5 meters thick) composed of hydroxides, hematite, calcite, as well as locally sulphides and quartz; 4) hydrothermal breccias cemented by series of calcite and limonite, and 5) isolated ore bodies composed of quartz, hydroxides, calcite and hematite. This hole demonstrated a rock block with open geological, mining and economic potential at depth in the San Jose area.
  • The San José SJ-22 hole followed and was completed at a depth of 200 meters. The hole intersected a series of mineralized structures trending generally NE, as well as mineralized structures semi-parallel to the axis of this drill core. These bodies are composed of quartz, calcite, series of limonite, hematite and local sulphides.
  • Hole SJ-20 was added by the Galore Geological Team to better understand what was observed in holes SJ-21 and SJ22. The SJ-20 was completed at a depth of 214 meters. This drilling showed: 1) the presence of dykes of intermediate composition with phyllic and clayey alteration, which penetrated a carbonated marine sedimentary sequence; 2) parallel ore bodies composed of quartz, limonite series, calcite and hematite; and 3) a halo of phyllic alteration and recrystallization in the carbonate marine sedimentary sequence.

This exploration has confirmed that the San José area presents a favorable geotectonic environment for the concentration of metallic mineralization, which is open at depth and on the sides of the cut targets. Mineralization is repetitive and concentrated in the form of veins, veins and strata-like bodies, hosted between the carbonate marine sedimentary sequence and the cupule of an unexhumed pluton, comparable to world-class polymetallic ore deposits in the region. Hydrothermal alteration consists of halos of recrystallization and phyllic alteration, as well as argillicization and alteration, suggesting a magmatic-hydrothermal source.

The core of the three holes will provide us with very important data to more clearly define the structural context of the gold mineralization. Drilling at San Jose will resume upon receipt of assays from ALS Global.

Los Gemelos

Following the March 14, 2022 announcement of Galore regaining control of the Los Gemelos mine and associated claims, Galore’s geological team has been busy assessing areas exposed to recent mining activity . March 21thst, the Company began its first diamond drill at Los Gemelos, to understand the tectonic and economic environment of the area. We hope to be able to provide more news on this program shortly.

We would like to thank our shareholders and those who have contacted us recently about our ongoing news.

Qualified person

Dr. Julio Pinto Linares holds a Ph.D. in Geological Sciences with a specialty in Economic Geology and Qualified Professional No. 01365 by MMSA and is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release presented by Galore Resources Inc.

On behalf of the Board of Directors, I am respectfully yours,

Michael McMillan
President and CEO

For more information on Galore Resources,

Please visit the Company’s website at www.galoreresources.com or contact the company’s chief financial officer and vice president of corporate communications, Drew McMillan, by phone (210-325-7971) or email (This email address is protected from spam. You need JavaScript enabled to view it.).

About Galore Resources

Galore Resources is a mineral exploration and development company whose objective is to make and develop significant mineral discoveries, supported by a sustainable business model. Our goal is to discover a world-class gold deposit in Mexico. Our flagship project is located in the heart of the Concepcion del Oro mining district, the Dos Santos project, which covers two known historical gold zones, follows the trend with Newmont’s Penasquito mine and is based on drilling, trenching and geophysical surveying. airborne. , has the potential to host several large tonnage gold deposits.

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

CAUTION REGARDING FORWARD-LOOKING INFORMATION: This press release contains “forward-looking statements” and “forward-looking information” within the meaning of Canadian securities laws. All statements included in this press release, other than statements of historical facts, are forward-looking statements. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “estimate”, “expect “, “potential”, “objective”, “budget” and “intent” and statements that an event or result “may”, “will”, “should”, “might” or “could” occur or be achieved and other similar expressions, including their negative forms.

Forward-looking statements in this press release include, but are not limited to, statements regarding management’s expectations regarding the Company’s ability to conduct a drilling program at its Mexican mineral properties and the timing thereof. , potential deposits, targets and mineralization on the properties and the expected receipt and timing of necessary government or third party approvals and permits.

This forward-looking information reflects management’s current beliefs and is based on a number of estimates and assumptions made by the Company and on information currently available to it which, although believed to be reasonable, is subject to known risks. and unknowns, uncertainties and other factors that could cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that this forward-looking information does not constitute a promise or guarantee and is subject to known and unknown risks and uncertainties, including, but not limited to, delays in obtaining approvals and permits. government or third parties, actual results of exploration activities, geological formations, unanticipated structures and features, environmental risks, future prices of base metals and other metals, operating risks, accidents, labor issues and other risks in the mining industry as well as general business, economic, competitive, political and social uncertainties, uncertain stock and capital market volatility and lack of available capital. There can be no assurance that the Company will obtain the necessary permits and successfully complete the proposed technical and drilling program at San Jose and El Alamo as currently contemplated or at all. Additionally, there is uncertainty about the spread of COVID-19 and variants of concern and the impact they will have on the Company’s operations, supply chains, ability to access mineral properties , to perform due diligence or procure equipment, contractors and other personnel on a timely basis or not at all and economic activity in general. All forward-looking information contained in this press release is qualified by these cautionary statements and those contained in our continuous disclosure documents available on SEDAR at www.sedar.com. For OTCQB quotes and filings, please visit www.otcmarkets.com. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.