GGX Gold Completes 1484 Meters on the COD Vein and Extends the Vein 30 Meters to the South
GGX Gold Completes 1484 Meters on the COD Vein and Extends the Vein 30 Meters to the South Greenwood BC
Vancouver, British Columbia – Apr 24, 2018 – GGX Gold Corp. (TSXV: GGX), (OTC Pinks: GGXXF), is pleased to announce the completion of 24 diamond drill holes targeting the COD vein in the Gold Drop Southwest Zone. To date the 2018 diamond drill program has completed 24 drill holes totaling 1,484 meters or 4,883 feet on the COD vein. Updates on the Diamond Drilling at the Everest Vein will be provided shortly.
Currently the COD vein drill is located at a pad 30 meters south of the southernmost extent of the 2017 trench. The drill hole DDCOD18-24 intersected the COD vein 42m below surface. The drill hole successfully extends the COD vein occurrence 30 m along strike. Listed below are the highlights from the latest series of COD diamond drill holes (holes 10 to 24). All reported widths are core length.
DDCOD18-24 – intersected a 2.17 m mineralized zone including a 1.6 m wide quartz vein intercept
DDCOD18-21 – intersected a 7.32 m mineralized zone including 3.52 m of quartz veining
DDCOD18-20 – intersected a 2.66 m mineralized zone including a 1.56 m quartz vein intercept
DDCOD18-19 – Intersected a 1.40 m quartz vein intercept and a second 0.46 vein intercept
DDCOD18-18 – intersected a 1.54 m mineralized zone including 1.14m quartz vein intercept
DDCOD18-14 – intersected a 2.94 m mineralized zone including a 1.5m quartz vein intercept
The core is currently being split and securely packaged for shipment to ALS laboratories in Vancouver, BC. There the core will be analyzed for gold by Fire Assay and for 48 multi element Four Acid and ICP-MS. Quality control (QC) samples are being inserted at regular intervals.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and consultant for GGX, is responsible for the technical information contained in this News Release.
To view the Original News release with pictures please go to the website or contact the company.
The company, as previously announced on April 6, 2018, wishes to remind all subscribers and finders from its private placement that took place during April, 2017, that the company has accelerated the term of these warrants to further finance its continuing drill program. The term of the 10-cent warrants associated with this placement may be accelerated in the event that the issuer’s shares trade at or above a price of 15 cents per share for a period of 10 consecutive days. In June of 2017, after the final closing announced on May 3, 2017, the shares of the company traded in this range. The warrants being accelerated at 10 cents are attached to the 7.5-cent private placement that took place in April, 2017. Warrantholders now have until May 7, 2018 to exercise their warrants, or they will be terminated.
On Behalf of the Board of Directors,
Barry Brown, Director
Mr. Jack Singh,
“ We don’t have to do this, we get to do this ”
Forward Looking Information
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, the Company’s information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks 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; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed at the Gold Drop Property. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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