GGX Gold Drilling Intersects 9.52 g/t Gold & 118 g/t Silver Over 1.47 Meters Gold Drop Property, Southern British Columbia
GGX Gold Drilling Intersects
9.52 g/t Gold & 118 g/t Silver
Over 1.47 Meters
Gold Drop Property, Southern British Columbia
Vancouver, British Columbia – August 30, 2018 – GGX Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company” or “GGX”) is pleased to announce it has received additional analytical results from its diamond drilling program on the Gold Drop property, located near Greenwood, B.C. Drill core analytical results have been received for 2018 drill holes COD18-49 to COD18-51 which tested the COD Vein. The COD gold bearing vein is located in the Gold Drop Southwest Zone. High grade gold has been confirmed within the COD Vein during the 2018 drill program with some core samples exceeding 1 oz. / ton gold. Gold bearing quartz veins are also reported in the east and north regions of the property, with historic samples reported to exceed 1 oz. / ton gold for veins in both areas.
Gold bearing quartz vein in drill hole COD18-49
9.52 g/t gold over 1.47meters
The analytical results listed below are highlights from drill holes COD18-49 to COD18-51 (intersections greater than 1 g/t gold), testing the continuation of the COD Vein south-southwest of the 2017 trench. Since true widths cannot be accurately determined from the information available the core lengths (meters) are reported. The gold, silver and tellurium analyses are reported in grams per tonne (g/t).
The highlight from these analytical results is an intersection of 9.52 g/t gold & 118 g/t silver over 1.47 meters core length in drill hole COD18-49, including 24.5 g/t gold, 367 g/t silver and 186 g/t tellurium over 0.30 meter core length. This interval of quartz veining and altered wall rock inclusions is at approximately 22 meter vertical depth and approximately 140 meters southwest of the area of 2017 trenching at the COD Vein. This hole was drilled at a 45 degree dip to the northwest. Holes COD18-45 and COD18-46, drilled from the same set-up but to the west, also intersected near-surface high grade gold (News Releases of August 15 and 22, 2018) identifying this area as having potential for high grade gold mineralization. COD18-49 was drilled approximately 200 meters southwest of drill hole COD17-14 which intersected the 4.59 g/t gold over 16.03 meter core length, including 10.96 g/t gold over 5.97 meter core length (News Release of September 7, 2017).
The 2018 drilling program focused on testing and defining the COD Vein, a Dentonia/Jewel style quartz vein. Trenching during 2017 exposed the northeast – southwest striking COD Vein for over 160 meter strike length. Numerous 2018 drill holes testing the COD Vein intersected significant levels of gold, silver and tellurium as reported in News Releases of May 29, June 14, June 27, July 11, July 19, July 25, August 1, August 9, August 15 and August 22. Most of these holes are southwest of the area of 2017 trenching. More significant gold intersections (core length) to date from the 2018 program are as follows:
- COD18-3: 62 g/t Au over 2.1 meters
- COD18-26: 3 g/t Au over 1.4 meter recovered core (within 2.35 meter interval)
- COD18-28: 3 g/t Au over 0.51 meters
- COD18-33: 65 g/t Au over 2.98 meters
- COD18-34: 16 g/t Au over 3.41 meters
- COD18-37: 23 g/t Au over 3.95 meters
- COD18-45: 1 g/t Au over 2.05 meters
- COD18-46: 9 g/t Au over 1.47 meters
- COD18-49: 52 g/t Au over 1.47 meters
The 2018 drilling program also tested the continuation of the Everest Vein, which is located approximately 600 meters southwest of the COD Vein worksite. The Everest Vein was first discovered by Company prospectors during the 2017. Chip samples collected in 2017 across the approximate 0.4 meter wide vein exposure returned up to 52.8 g/t gold and 377 g/t silver while a grab sample of a quartz vein boulder broken off the outcrop by the excavator returned 81.8 g/t gold and 630 g/t silver (News Release of August 21, 2017).
In addition to the gold discovered by the Company at the COD and Everest Veins, gold mineralization is reported in in quartz veins in the east and north regions of the property. These include the Gold Drop, North Star and the Silent Friend quartz veins in the east region of the property and Amandy, Roderick Dhu, Lady of the Lake, Lake View and Moonlight in northern region of the property. High grade gold is reported for historic samples at some of these veins with samples reported to exceed 1 oz. / ton gold. Historic gold production occurred at the Gold Drop, North Star, Amandy and Roderick Dhu veins.
Drill core from the 2018 program was geologically logged and sampled. Drill core was sawn in half with half core samples submitted for analysis and remaining half core stored in a secure location. Core samples were delivered to the ALS Minerals laboratory in Vancouver to be analyzed for gold by Fire Assay – AA. Samples exceeding 100 g/t gold were re-analyzed for gold by Fire Assay – Gravimetric Finish. The samples were also analyzed for 48 Elements by Four Acid ICP-MS. Samples exceeding 100 g/t silver were re-analyzed for silver by Four Acid ICP-AES. One sample from COD18-46 exceeded 1500 g/t silver and was re-analyzed for silver by Fire Assay – Gravimetric Finish. Quality control (QC) samples were inserted at regular intervals.
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, Director604-488-3900Office@GGXGold.com
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.