Teck American Secures Option Agreement for GGL Resources' Le Champ Project

VANCOUVER, BC / ACCESSWIRE / September 25, 2024 / GGL Resources Corp. (TSX-V:GGL) announced a significant Option agreement with Teck American Incorporated (Teck), a subsidiary of Teck Resources Limited. This agreement concerns GGL's Le Champ copper-molybdenum-gold porphyry target situated in Nevada's Walker Lane Trend.

The Option transaction entails Teck making annual claim maintenance payments of $53,000 and a series of escalating cash payments starting with $100,000 in the first year and culminating in $1,000,000 by the fourth year for full project ownership. Additionally, GGL will receive a $2,000,000 milestone payment upon a production decision, while retaining a 2% NSR, subject to partial buy-backs by Teck.

Le Champ, defined by extensive geophysical and geological surveys, features a substantial 1.8 km by 1.0 km Induced Polarization anomaly. This key target aligns with other geophysical and geochemical indicators but has seen no historical drill testing, indicating untapped potential.