Gold Lion Options Projects In Idaho

VANCOUVER, BC - Gold Lion Resources Inc. reported that it’s wholly-owned subsidiary, Gold Lion Resources (NV) Inc., has entered into an arm’s length option to earn 100% of the South Orogrande, Robber Gulch, and Erikson Ridge gold projects in Idaho from Bronco Creek Exploration Inc., a wholly-owned subsidiary of EMX Royalty Corp (“EMX Royalty” or “EMX”). The deal provides Gold Lion with a strong portfolio of gold assets in Idaho, a top tier mining jurisdiction globally, which is host to several significant gold projects currently advancing toward development. Idaho was ranked No. 8 in the world on the 2019 Fraser Institute rankings of mining attractiveness index.

The three Projects comprise 4,400 hectares within prospective and under explored regions of Idaho. Erickson Ridge and South Orogrande host both disseminated and vein-hosted gold mineralization within the regionally mineralized Orogrande Shear zone, while Robber Gulch hosts Carlin-style mineralization in Paleozoic-aged silty carbonate and clastic units. All three Projects are accessible via existing road networks from nearby towns with available services.

The South Orogrande Project covers approximately 11.5 kilometers of strike length along the southern portion of the Orogrande Shear Zone adjacent to, and along strike of Endomines AB’s Friday deposit which has historic open pit, oxide measured and indicated resources of 20 M tonnes averaging 1/gt Au (643Koz Au contained), and inferred resources of 21 M tonnes averaging 0.88g/t Au (594 Koz Au contained). The primary target at South Orogrande is shear-hosted orogenic-style, as well as intrusion-related gold mineralization analogous to the Friday mine. Historic surface exploration at South Orogrande has identified multiple kilometer-scale, cohesive gold in soil anomalies (2 x 5 km and 1.5 x 3 km) with coincident aeromagnetic, induced polarization, and DIGHEM geophysical anomalies in areas of minimal outcrop and widespread placer gold occurrences. EMX identified five closely-spaced, less than 100 meter deep holes from the mid-1980s that were drilled within a small portion of one of the soil anomalies, with no record of any additional drilling across the entire Project area.

The Robber Gulch Project comprises an area of strongly altered and mineralized Paleozoic silty carbonate and clastic units exposed within a window of post-mineral volcanic rocks. The Project lies 90 kilometers to the west, and within the same host sedimentary sequence as Liberty Gold Corp.’s Black Pine Carlin-style project in southern Idaho.1 The primary targets at Robber Gulch are surface-mineable, oxide Carlin-style gold mineralization associated with intense jasperoid, decalcified limestone, and local quartz veining and brecciation within sandstone and carbonate units.

EMX has identified potential structural feeders and widespread zones of disseminated mineralization with anomalous gold and pathfinder elements. The Project has seen little modern exploration, with four shallow drill holes drilled in the mid-1980s, which were not followed up with further drilling or surface geochemistry. Results included hole AC-4 returning 18.3m of 0.23 g/t Au (from 24.4m to 42.7m) and 24.4m of 0.56 g/t Au (from 54.8m to 79.2m), including, 6.1m of 1.25 g/t Au (from 64.0m to 70.1m) in oxide mineralization.

The Erickson Ridge Project covers the northern extension of the regionally important Orogrande Shear Zone in the Elk City mining district of Idaho, which hosts multiple historic drill-defined resources. Within the Project area, the shear zone is visible as a linear low topographic feature over five kilometers in length and mantled by soil and vegetation with widespread placer gold occurrences. The Project contains an outcrop of mineralization included in a 1980s-era historic resource, which also corresponds with a gold-in-soil anomaly that extends mineralization more than one kilometer along strike beyond the known resource.3 Highlight drill intercepts from the 1980s work include 33.5m of 4.1 g/t Au (from 16.8m to 50.3m) and 21.3m of 3.15 g/t Au (from 77.7 to 99.0m).