GGX Gold Extends Drilling Targets 600 Meters. Gold Drop Property Greenwood British Columbia
GGX Gold Extends Drilling Targets 600 Meters
Gold Drop Property
Greenwood British Columbia
Vancouver, BC – January 10, 2018 – GGX Gold Corp. (TSXV: GGX) (the “Company” or “GGX”) is pleased to announce the receipt of soil sample analytical results from the 2017 fall program on the Gold Drop Property, located in southern British Columbia. The soil sampling geochemical program was conducted in the Gold Drop Southwest Zone between the COD gold showing and the COD North gold showing and north of the gold bearing Everest vein. The program identified gold soil anomalies including high values of 0.061, 0.073 and 0.088 ppm gold.
A total of 334 soil samples were collected during the program and submitted to ALS Minerals in North Vancouver for gold and multi-element analysis. The samples were screened to 180 micron. Gold analysis was by aqua regia extraction with ICP-MS finish. Multi-element analysis was by aqua regia extraction and ICP-MS and ICP-AES. Soil samples were collected along 31 soil lines. These lines were spaced 25m apart with a 25m sample interval. The soil lines were of varying lengths but on average 250m long.
The soil sampling program identified several soil gold anomalies in the Southwest Zone, including numerous samples exceeding 0.01 ppm Au (including high values of 0.061, 0.073 and 0.088 ppm Au). The most distinct anomaly or anomalies is in the COD North area, where anomalous values are concentrated between two historical workings. The soil sampling program extended the target area for at least 600 meters northeast of the area of 2017 drilling and trenching. The Company is planning follow up work in this area in 2018 including a trenching program. The program also identified other gold anomalies near the new COD adit and northeast of the COD trenches.
The soil sampling program in the Gold Drop Southwest Zone helped identify a new vein exposure in a small, 2 meter deep historic adit 175 meters north of the C.O.D. trench. The adit is driven on a North-south striking quartz vein that is on strike with the C.O.D. Vein, and appears to be of the same style as the Detonia/Jewel quartz vein. Another vein exposure north of the trench was also located by hand pitting on local quartz float. Bedrock quartz samples from the small hand pit material returned values of 4.97 g/t Au and 30.7 g/t Ag. Samples of boulder material found outside of the small adit returned values of 1.28 g/t Au and 6.97 g/t Ag. (News Release of Nov 8, 2017).
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.
On Behalf of the Board of Directors,
Barry Brown, Director
Mr. Jack Singh: 604-720-6598 E-mail: firstname.lastname@example.org
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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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