- Gold Line Resources (GLDL) has released initial results from its maiden drill program at the Paubäcken project in Sweden
- Highlights from this hole include 4.6 g/t gold over 9.5 metres within a broader zone of 2.4 g/t gold over 22.5 metres
- The 670 metres drilled so far is the first phase of a 1,500-metre drill program
- Gold Line expects to complete the program in the summer of 2022 and will restart drilling once reindeer have left the area
- Gold Line Resources is focused on advancing gold projects with exploration potential in gold-producing regions of Sweden and Finland
- Shares in Gold Line Resources Ltd. (GLDL) are up 3.13 per cent, trading at $0.165 per share
Gold Line Resources (GLDL) has released initial results from its maiden drill program at the Paubäcken project in Sweden.
The company has so far received results from three of the five holes drilled across the property in October and November 2021.
Drilling targeted previously unexplored areas at Paubäcken in shallow intercepts, making these results significant for the company as it advances the project.
Fall 2021 exploration at the project’s Aida target identified a gold-in-bedrock anomaly containing 1.43 g/t gold, where hole DH PAU21003 was drilled.
Highlights from this hole include 2.4 g/t gold over 22.5 metres that contained a higher grade zone of 4.6 g/t gold over 9.5 metres.
Drilling also intersected zones of anomalous gold in DH PAU21002 approximately 450 metres to the southeast that appears to occupy a different structural trend than the intercept seen in PAU21003.
The holes were widely spaced and included a total of 670 metres of drilling, the first phase of a 1,500-metre maiden drill program that Gold Line expects to complete in the summer of 2022.
In agreement with the local reindeer husbandry, Gold Line will commence phase two drilling once the reindeer have left the area.
The Paubäcken project consists of 17,097 hectares across three licenses in the Gold Line Belt of north-central Sweden.
Gold Line Resources is focused on advancing gold projects with exploration potential in gold-producing regions of Sweden and Finland.
The company currently holds a prospective portfolio of five gold exploration projects in Sweden: one in the Skelleftea belt and four in the Gold Line Belt.
Shares in Gold Line Resources Ltd. (GLDL) are up 3.13 per cent, trading at $0.165 per share as of 11:23 am EST.