Vancouver, British Columbia – June 20, 2019 – GGX GOLD CORP. (TSX.v: GGX) (OTCQB: GGXXD) (the “Company” or “GGX”) GGX Gold announces it has now completed 32 diamond drill holes on the C.O.D. vein and has moved the drill rig to start drilling the C.O.D. North Vein at the Gold Drop property in the Greenwood Mining Camp.
The Company’s drill rig has now completed the first stage of in-fill drilling on the C.O.D. vein. The rig has now been moved to explore the C.O.D. North vein, which is a parallel vein located 700 meters northeast of the main vein. Trench samples collected in 2018 from the C.O.D. North vein assayed up to 21.7 grams per tonne gold over 0.4 meters. An initial stage of 10 holes is planned to test the structure in the area of the surface trenches.
Since the start of the season in mid-April, 32 holes for a total of 1923 meters have been completed on the main C.O.D. structure. Fourteen holes intersected the C.O.D. quartz vein at the target depths containing variable amounts of pyrite mineralization (see photo). Five vein intercepts were visibly mineralized with possible gold-telluride mineralization (sylvanite, (Ag,Au)Te2) and one other intercept contained visible gold.
Following on from the C.O.D. North structure, the drill program will continue this season with planned holes to test the Everest vein, a visible gold bearing vein that was discovered in 2018, and the Gold Drop mine, where visible gold in quartz has been identified in surface exposures.
The drill core is currently being logged and cut in half with a diamond saw at the Company’s facility in Greenwood, B.C. Half core samples will be shipped for assay later this month.
David Martin, PGeo, a qualified person as defined by National Instrument 43-101 and consultant for GGX Gold, is responsible for the technical information contained in this news release.
On Behalf of the Board of Directors
George Sookochoff, President,
Mr. Jack Singh,
Forward Looking Statement
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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