GGX GOLD CORPS PARTNER, PRIVATE SYNDICATE DISCOVERS GOLD IN OUTCROP WITH ASSAYS UP TO 7.25 GRAMS PER TONNE GOLD, 62.6 GRAMS PER TONNE SILVER AND 11.85 PERCENT COPPER ON THE MONSTER PR0PERTY
GGX GOLD CORPS PARTNER, THE J2 SYNDICATE DISCOVERS GOLD IN OUTCROP WITH ASSAYS UP TO 7.25 GRAMS PER TONNE GOLD, 62.6 GRAMS PER TONNE SILVER AND 11.85 PERCENT COPPER ON THE MONSTER PR0PERTY
VANCOUVER, British Columbia – December 21, 2016 – GGX GOLD CORP. (TSXV.GGX) (the “Company” or “GGX Gold”) is pleased to announce that The Monster Property covers 1,465 hectares located approximately 26 kilometers southwest of Telegraph Creek, BC, within 2 kilometers of the nearest road and within 14 km of power. The property was generated and staked by the J2 Syndicate during the summer of 2016, following positive results from a brief 2 day reconnaissance exploration program which resulted in the discovery of gold, silver and copper mineralized outcrop. Grabs taken in the newly discovered Goliath Zone from an outcrop lens of massive sulphide in altered volcanics returned grades up to 7.25 grams per tonne gold, 62.6 grams per tonne silver and 11.85 percent copper. The Goliath Zone is located within the 1.2 km northwest – southeast Titan gold trend, which remains open and underexplored. The Monster Property is the fifth property to be announced from a larger suite of properties generated, prospected and staked by the J2 Syndicate.
The overlaying intermediate and mafic volcanic units in the Goliath Zone are massive sulphide lenses forming local gossans, silicified shears and massive chalcopyrite-pyrite quartz veins. Mineralization is spatially associated with intruding syenite dykes or stocks. Lenses range from disseminated minute blebs to 0.5 meters wide, often in sporadic clusters in shears or within 50 meters of a syenite contact. The brief program showed that the Zone measures at least 55 meters by 45 meters with confirmed bedrock high grade polymetallic mineralization in the mafic volcanics and intruding syenite. The zone remains underexplored and open in all directions. A days’ hand trenching also exposed the bedrock upper contact of a large syenite stock, where composite chip samples have returned up to 0.56 grams per tonne gold, 9.2 grams per tonne silver and 0.13 percent Cu over one meter, and 0.486 grams per tonne gold, 7.2 grams per tonne silver and 1.09 percent copper over one meter in the immediate area. The strongly oxidized and variably silicified syenite contains stringers and disseminations of pyrite and chalcopyrite with malachite and azurite on weathered surfaces and fractures, and remains open.
The brief 2016 reconnaissance prospecting program has confirmed significant copper-gold porphyry mineralization in bedrock, indicating good bulk tonnage potential. The property is underlain by fine to medium grained intermediate and mafic volcanic flows, interlayered with cherts and cherty shales, dipping shallowly towards the northeast. These rocks have been intruded by a syenitic intrusion and a dyke swarm of megacrystic syenite, with dyke widths ranging to 10 meters. Several of these dykes are mineralized with finely to strongly disseminated pyrite and chalcopyrite, and have returned assays up to 0.497 grams per tonne gold, 0.5 percent copper and 360 parts per million molybdenum from 2016 prospecting carried out on the Titan Trend 1.2 kilometers to the southeast of the Goliath Zone. Historic work reported approximately 500 meters to the southwest of that area describes a 5 to 20 centimeter wide vein that can be traced for 50 meters and has returned grabs of up to 14.47 grams per tonne gold and 1.97 percent copper, and chip samples of up to 0.44 grams per tonne gold over one meter. The quartz-carbonate vein is hosted in pyritic sediments and mineralized with pyrite, arsenopyrite and chalcopyrite. Other historic samples also taken at that time returned 1.12 grams per tonne gold from sulphide stringers and disseminations in syenite. The Goliath Zone is located on trend 1.2 kilometer to the northwest of this area.
Historic Government mapping in the area identified a 14 square kilometre alkaline intrusive complex which is concentrically zoned, with a syenite core and an incomplete pyroxenite border phase that is commonly in contact with the country rocks. The magnetite-rich pyroxenite phase is extensive in the southern quadrant of the claim block where historic samples from the unit returned up to 3.25 grams per tonne gold, 10 grams per tonne silver, 1.97 percent copper, and 1.13 grams per tonne platinum and 0.227 gram per tonne palladium. The pyroxenite unit is extensive and remains largely unexplored.
A follow up program on the Goliath Zone and along the Titan trend, and the historic gold platinum silver copper bearing pyroxenite unit is strongly recommended in order to outline the full surface extent of the polymetallic mineralization on the Monster property. The recommended follow-up program includes systematic prospecting, mapping, hand trenching and geophysics in preparation for drilling.n
A total of 42 rock grab samples were taken on the Monster property in 2016. Rock grab samples ranged from below detection limit to 7.25 grams per tonne gold, 62.6 grams per tonne silver and 11.85 percent copper. There are no assays outstanding.
See news dated October 20th, 2016 for details of the agreement between GGX Gold (formerly Revolver Resources) and the J2 Syndicate. Rein Turna, P. Geo. is a qualified person, as defined by National Instrument 43-101, for the J2 syndicate British Columbia exploration projects. He has reviewed and approved, the technical information in this release.
The J2 syndicate was formed to focus on generating and staking precious metal properties in Northwest BC. Once reported the properties will be made available for option to qualified parties. For further information, and to receive additional information including photos and maps, interested parties may contact Dan Stuart, by e-mail (email@example.com) or by phone at 778 233 0293.
On Behalf of the Board of Directors
Barry Brown, President,
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.