Drilling Resumes At The Homestake High-Grade Discovery

VANCOUVER - Gold Springs Resource Corp. announced that the 2022 drilling program will return to Homestake, with the objective to offset the 2019 significant high-grade discovery hole and to demonstrate its important potential. This target is in the Nevada portion of the large Gold Springs Project, where the historical Homestake mine operated at the end of the 19th and beginning of the 20th century.

Randall Moore, Executive Vice President of Exploration, said, "We are excited to have the opportunity, with our 2022 drilling program, to offset the discovery high-grade hole HS-19-007 which intercepted 6.1 meters of 22.88 g/t gold equivalent within the vein system and 71.6 meters of 0.74 g/t gold equivalent in a second zone related to stockwork veining and breccias. Drilling will focus on following the high-grade portion of the vein as well as the much thicker interval which has the same characteristics of our current resources. Homestake will be part of an aggressive program to outline gold mineralization found there and at White Point, Grey Eagle and Iris. These 4 targets form a gold belt stretching for over 1,200 meters.”

The Homestake veins are two parallel, stacked veins that dip shallowly (45-55°) to the west, while the Iris vein, 200 meters to the west, is dipping steeply (75-85°) to the east. Vein widths vary but are generally 2-4 meters wide as exposed in the historical mine workings. The Homestake veins can be traced for 650 meters along strike and become obscured by post mineral cover to the north and south. Rock chip samples collected from the Homestake veins show values ranging from 3.5 g/t to 14.4 g/t gold and from 21.1 to 48.3 g/t silver along the 650 meters of exposure. Samples from trenching of the Iris vein ranged from 1.62 to 17.8 g/t gold and 6.6 to 25.2 g/t silver.