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Share Name | Share Symbol | Market | Type |
---|---|---|---|
GGL Resources Corp | TSXV:GGL | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.01 | -18.18% | 0.045 | 0.045 | 0.06 | 0.05 | 0.045 | 0.05 | 3,000 | 19:26:55 |
The 2011 programme will focus on geophysical targets located by ground gravity surveys that were conducted last year and will consist primarily of drilling of a number of these targets. Kimberlite indicator mineral trains helped to focus the areas for the 2010 ground gravity surveys. The drilling is expected to begin this March/April.
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 to be spent on or before December 31, 2011. This commitment will be exceeded with the completion of the planned 2011 program. In order to exercise the option RIO must provide 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 that owns a large land position covering a greenstone belt in the NT upon which GGL has made new discoveries of gold, VMS, and nickel. Also in the NT and in addition to the RIO Option, GGL has a diamond exploration joint venture with De Beers Canada Inc. ("De Beers") adjoining the Gahcho Kue diamond discovery owned by De Beers and Mountain Province Diamonds Inc., and GGL has a 100% interest in other diamond exploration claims and leases.
In British Columbia GGL owns the McConnell Creek Gold Property located 20 km southeast of the Kemess South producing gold-copper mine.
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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