Vancouver, British Columbia – March 16, 2022 – GGX Gold Corp. (TSX-V: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company” or “GGX”) is pleased to provide results from its 2021 exploration program at the Company’s 100% owned Gold Drop property in the Greenwood Mining Camp in British Columbia, Canada.
In 2021, a total of 25 drill holes were completed totaling 1,616.8 metres before the program was suspended due to risk of wildfire. The first 12 drill holes (444.9 metres) were completed on the Perky vein to test its northern extension. The Lively vein was then tested with 12 holes (1,061.2 metres). One additional hole tested for a northern extension of the COD vein (110.7 metres). Final assay results from were received in late February and significant results are listed below.
The Perky vein produced the most significant result at 12.6 grams per tonne gold over a length of 0.3 metres in hole PKY21-10. This and the other PKY intercepts reported above confirm that mineralized extensions to this vein may still be found.
The 2021 drilling at the Lively vein tested two veins: 1) the Lively vein that was trenched in 2020 and 2) a new vein that was discovered at shallow depths in the drill holes. The drill results listed above show that both veins contain gold mineralization (multiple intercepts in holes LVY06, 07 and 08).
Plans are now being formulated for the 2022 field season. Areas of interest for drilling include the Highland Valley vein, Ken vein, North Star and Gold Drop mine areas and possible drilling to intersect the deep extension of the Dentonia vein.
Analyses disclosed in this release were conducted by ALS Global – Geochemistry Analytical Lab in North Vancouver, BC, Canada. ALS is an independent, fully accredited commercial laboratory. All mineralized vein samples were analyzed by the metallics sieve method (ALS Code Au-SCR24) with gold determination by fire assay. For other samples, gold was determined by the fire assay method using a 50-gram sample weight and AA finish. Other metals were analyzed as part of a 48-element package using a four-acid digestion and determination byICP-MS.
Raymond Kitchen, P.Geo., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, approved the technical information in this release.
On Behalf of the Board of Directors
Barry Brown, CEO
This News Release may contain forward-looking statements including but not limited to comments regarding the acquisition of certain mineral claims. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Revolver undertakes no obligation to update such statements, except as required by law.
Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates, including that: the current price of and demand for minerals being targeted by the Company will be sustained or will improve; the Company will be able to obtain required exploration licences and other permits; general business and economic conditions will not change in a material adverse manner; financing will be available if and when needed on reasonable terms; the Company will not experience any material accident; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; potential inability to find suitable acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company’s public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
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