GGX Gold Discovers Extension of Gold Drop Vein During 2018 Trenching Program Gold Drop Property, Southern British Columbia
GGX Gold Discovers Extension of Gold Drop Vein
During 2018 Trenching Program
Gold Drop Property, Southern British Columbia
Vancouver, British Columbia – September 20, 2018 – GGX Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company” or “GGX”) is pleased to announce it has discovered an extension of the Gold Drop Vein System south of underground workings on its Gold Drop property near Greenwood, B.C.
The vein extension was discovered by the Company through a combination of a 2017 soil geochemical survey and follow-up trenching during the 2018 summer exploration program. A quartz vein was exposed over a 20 meter length in a 2018 trench south of the Gold Drop underground workings. Historic production from the Gold Drop Vein System is reported to be 335 tonnes mined during 1926-1988 (mainly during 1933-1941) with 5,020 grams of gold (14.99 g/t gold) and 35,894 grams of silver (107.1 g/t silver) recovered.
The Gold Drop Vein System, located in the east region of the property, had been previously traced in underground workings for a strike length of approximately 160 meters. It was explored and developed underground through drifts, shafts and two adits. The area south of the Gold Drop Vein has seen historical exploration through numerous pits and hand trenches. Historical exploration failed to locate the southern extension of the Gold Drop Vein System.
In 2017 the Company conducted a small soil geochemical sampling program south of the Gold Drop underground workings. The program consisted of three short east-west soil lines spaced 25 apart with staggered 20 meter sample intervals. A distinct linear gold anomaly was identified being approximately 50 meters long, trending approximately north-south and being approximately 50-100 meters south of the Gold Drop underground workings.
2017 Soil geochemical samples (gold anomalies)
A trench was excavated during the 2018 summer exploration program across the anomaly. The trench successfully located a quartz vein. The quartz vein has so far been traced for 20 meters. The vein pinches and swells within the trench exposure with measured widths of approximately 0.6 meters to approximately 2 meters. The vein trends approximately north-south. The vein was observed to be sporadically mineralized with pyrite, chalcopyrite and trace amounts of galena.
Company management is very excited by this new discovery. Channel sampling and further trenching are planned for this area.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101, 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.
On Behalf of the Board of Directors,
Barry Brown, Director
Investor Relations: Mr. Jack Singh, 604-488-3900 ir@GGXgold.com
“ 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.
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.