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Gold Lion Resources: The explorer poised for major upside in North America’s newest gold mining frontier

Gold Lion Resources Inc

GOLD LION RESOURCES (CSE:GL | FWB:2BC | OTC:GLIOF)

It’s an excellent time to be a gold investor.

The precious metal has broken eight-year price records and has recently breached US$2,000 an ounce (“/oz”), with some analysts even forecasting a rise to more than US$3,000/oz by early next year.

All gold firms are benefitting from these shining conditions, but some of the most transformational returns stand to be made by exploration firms with prospects in highly-attractive jurisdictions.

Gold Lion Resources (CSE:GL | FWB:2BC | OTC:GLIOF) presents such an opportunity.

This explorer has seen its average trading volume soar from the tens of thousands when it first listed to hundreds of thousands in June and July, and its share price has quadrupled.

The catalyst for this sharp increase in interest came in April, when Gold Lion (CSE:GL | FWB:2BC | OTC:GLIOF) secured an option to acquire three gold projects – Robber Gulch, Erikson Ridge, and South Orogrande.

All three assets offer company-making potential, and Gold Lion (CSE:GL | FWB:2BC | OTC:GLIOF) has started making use of its debt-free, cash-heavy balance sheet to advance them. But what is equally exciting is where they are based – the U.S. state of Idaho.

Idaho – following in Nevada’s massive footsteps

GOLD LION RESOURCES (CSE:GL | FWB:2BC | OTC:GLIOF)

According to the United States Bureau of Mines – a former government mining agency – the amount of mineable gold waiting to be discovered across Idaho rivals that of even the very most prospective American gold states.

However, after all its “easy” gold was swept up by panhandlers and early miners throughout the late 1800s and early 1900s, production waned as the state became more well known for silver production.

Today, Idaho’s mining industry is changing as large gold deposits in leading Northern American mining jurisdictions like Nevada and Ontario become harder to find – often, the best land has already been taken!

Firms like Endomines, Revival Gold, Integra Resources, and Midas Gold are all now re-visiting Idaho’s vast reserves of mineralized rock armed with modern mining techniques that their historical predecessors could only dream of.

Geology aside, a key attraction is the ease with which these firms can do business in Idaho – something critical to the development of any mine. Not only is the state safe and stable, but its mining history means road access, power lines, water, and rail are abundant, and it boasts a vast ready-made skilled laborforce.

Meanwhile, the pro-mining stance of Idaho’s legislation is well documented. Just last year, state officials agreed to update 50-year-old mining laws “to give mining companies the financial leeway to mine” and protect Idaho mining from federal litigation, federal regulation, and opposition.

These sorts of developments have even granted Idaho a position in the latest edition of the Fraser Institute’s prestigious ranking of the top ten global mining jurisdictions for investment attractiveness.

Today, many describe Idaho’s gold industry as being at the same stage as its neighboring state Nevada was around 30 years ago. It was around this time that modern exploration techniques enabled a greater understanding of the enormous gold trends underpinning Nevada, prompting a rapid and substantial influx of discoveries.

Nevada still sits as the sixth-largest gold producing jurisdiction in the world and remains a major base of operation for the likes of Kinross Gold, Barrick Gold, and Hecla Mining. Today, Gold Lion (CSE:GL | FWB:2BC | OTC:GLIOF) has established a powerful footing in Idaho as the state continues to follow in these massive footsteps.

Active mines in Idaho compared to Nevada

Crossing state boundaries in the search for Carlin-type gold

GOLD LION RESOURCES (CSE:GL | FWB:2BC | OTC:GLIOF)

The first of Gold Lion’s (CSE:GL | FWB:2BC | OTC:GLIOF) three prize projects is Robber Gulch. This large package of land extends over an underexplored district in the south of Idaho immediately north of Nevada’s rich Carlin trend.

Since the Carlin mine was established in the 1960s, ‘Carlin-type deposits’ have represented some of the world’s largest hydrothermal gold deposits. The biggest today is Barrick Gold’s Goldstrike mine, which had produced 44.4 million ounces of the yellow metal as of 2018.

Incredibly, companies have largely failed to look into whether the Carlin trend projects across the state line from Nevada into Southern Idaho to date – too little was known about the area. One firm that has, however, is Liberty Gold, whose Carlin-style Black Pine project sits near to Robber Gulch.

This stock has soared 126% in the last six months after revealing record gold extraction to support a simple heap leach mine and discovering a high-grade oxide gold zone. With Robber Gulch sitting atop the very same host rocks as Black Pine, Friesen sees this as a great endorsement of Gold Lion’s (CSE:GL | FWB:2BC | OTC:GLIOF) approach:

“Liberty Gold came in and provided proof of concept that Carlin potential exists in Idaho, and the company’s market cap has now risen to some half a billion dollars. This opened up the door for us to do the same thing at Robber Gulch.”

Historical drilling at Robber Gulch is limited to a small programme of four holes in the 1980s, but Gold Lion (CSE:GL | FWB:2BC | OTC:GLIOF) is now ready to go much further.

Early work has already identified two geochemical anomalies typical of Carlin-type gold systems and a more-than-2km strike length of surface gold grading up to 6.49g/t. With permitting now in motion, Gold Lion (CSE:GL | FWB:2BC | OTC:GLIOF) now plans to begin drilling this fantastic opportunity later this year.

Mineralized rock at Robber Gulch

Consolidating the Orogrande Shear Zone – Idaho’s hidden gold opportunity

GOLD LION RESOURCES (CSE:GL | FWB:2BC | OTC:GLIOF)

Joining Robber Gulch in Gold Lion’s (CSE:GL | FWB:2BC | OTC:GLIOF) project portfolio are Erikson Ridge and South Orogrande.

These two properties cover a large land position on top of a 50km long, under-explored geological formation in north-central Idaho called the Orogrande Shear Zone.

From the late 19th century to the early 20th century, this region produced more than 1 million ounces of gold, mostly from very basic placer mining. However, after operations were ordered shut during World War II, work never properly restarted.

This is now changing, and the initial signs are very encouraging.

Sitting less than a kilometer away from South Orogrande is a large open-pit gold oxide deposit being brought into production by Swedish miner Endomines AB. The Friday mine is huge, containing 647,000oz of gold in the highly-prized Measured and Indicated categories and 590,000oz of Inferred gold with upside potential deeper underground.

Following in Endomines footsteps, Gold Lion (CSE:GL | FWB:2BC | OTC:GLIOF) has begun to consolidate the Orogrande Shear Zone and the ground is now ready for exploration with modern mining techniques.

Surveying by Premium Exploration several years ago revealed two large gold-in-soil anomalies on Gold Lion’s (CSE:GL | FWB:2BC | OTC:GLIOF) South Orogrande project that are along strike of the Friday mine. However, the firm was unable to follow-up with drilling because of last decade’s depressed gold prices.

With gold prices now at all-time highs, Gold Lion (CSE:GL | FWB:2BC | OTC:GLIOF) is picking up where Premium left off, completing an extended IP survey with detailed mapping and prospecting. Drill testing is expected to follow later in the year.

Geology at South Orogrande

Meanwhile, a little-known historical resource was established at Erikson Ridge in the 1980s by a firm targeting shallow mineralization with intercepts including an impressive 33.5m of 4.1g/t gold and 21.3m of 3.15g/t gold.

Gold Lion (CSE:GL | FWB:2BC | OTC:GLIOF) is now following up on this work with modern techniques targeting much deeper extensions, and verification and test drilling are once again expected later on in the year.

Getting in on the ground floor in Idaho

GOLD LION RESOURCES (CSE:GL | FWB:2BC | OTC:GLIOF)

With more and more miners and investors backing Idaho as the next global center for gold mining and the gold price continuing to hit record highs, the potential for profits in the state grows with every passing day.

With its strong balance sheet, increasing market presence and portfolio of excellent, under-explored assets boasting vast structural potential, Gold Lion Resources (CSE:GL | FWB:2BC | OTC:GLIOF) provides investors with the ideal solution for getting in on the ground floor.


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