GGL Resources Corp.: Rio Tinto Set to Begin 2010 Diamond Exploration
09 Marzo 2010 - 7:00AM
Marketwired
GGL Resources Corp. (TSX VENTURE: GGL) ("GGL") is pleased to report
that Rio Tinto Canada Exploration Inc. ("RIO") (formerly, Kennecott
Canada Exploration Inc.) has instructed GGL to prepare and
implement the 2010 diamond exploration program on the CH Project
Area ("Property") about 250 kilometers north of Yellowknife,
Northwest Territories, Canada.
Ground gravity surveys are scheduled for the later part of this
March 2010 to be followed by a drilling program, in April of this
year.
Under the direction of RIO, GGL has contracted Aurora
Geosciences Ltd. ("Aurora") to conduct the gravity surveys.
Approximately ten drill holes are planned for the March/April
drill program. The drill targets have been and will be selected
from the results of this year's and last year's ground gravity
surveys as well as data from GGL's previous airborne/ground
geophysical surveys, indicator mineral sampling and diamond
drilling.
In February 2009, GGL and RIO signed an Exploration and Option
Agreement which gave RIO the sole and exclusive right and option to
acquire, subject to Royalties, a 100% interest in the Property by
incurring expenditures of $10,000,000 on or before December 31,
2016, of which $900,000 is a commitment and must be spent on or
before December 31, 2011. In order to exercise the option, RIO must
pay GGL additional yearly payments beginning in 2013, to total
$1,000,000 on or before December 31, 2016.
ABOUT GGL RESOURCES CORP.
GGL is a Canadian mineral exploration company whose present
focus is on its gold, copper-gold, nickel, VMS and diamond
properties located in the Northwest Territories and British
Columbia, Canada.
GGL RESOURCES CORP.
Raymond A. Hrkac, President & CEO
Forward-Looking Information: This news release contains
"forward-looking statements" and the cautions regarding such
statements apply.
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.
Contacts: GGL Resources Corp. Raymond A. Hrkac President &
CEO 604.688.0546 or Toll Free 1.866.688.0546 604.608-9887 (FAX)
info@gglresourcescorp.com www.gglresourcescorp.com
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