GGX GOLD FIRST BATCH OF DRILLING RESULTS, VEIN INTERSECTS 24 G/T GOLD AND 192 G/T SILVER
GGX Gold First Batch of Drilling Results Vein Intersects 24G/t Gold and 192 G/t Silver
Vancouver, British Columbia – August 28, 2017 – GGX Gold Corp. (TSXV: GGX), (OTC Pinks: GGXXF), (the “Company” or “GGX”) is pleased to announce the first batch of analytical results from the Phase I diamond drilling program at the Company’s Gold Drop Project near Greewood, BC. The Company is currently exploring and defining the COD Vein, a Dentonia/Jewel style quartz vein, in the Gold Drop Southwest zone. Trenching during 2017 has exposed the northeast – southwest striking COD vein for over 160m strike length. To date analytical results for 68 trench channel samples have been received, with samples returning anomalous to high grade values for gold, up to 43.2 g/t Gold and 224 g/t Silver (News release of July 26, 2017).
The Phase I drilling program aimed to delineate the COD vein in the Gold Drop Southwest zone from 5 pad locations along the North-south trench. The drilling tested the vein along 80 meters of strike length. The drilling commenced south of the C.O.D. mine shaft and progressed systematically to the north. The Phase I drilling totaled 15 holes (691 meters). The objective of the drilling was to determine depth and the dip of the vein exposed at surface and confirm gold and silver mineralization below the channel samples. Drilling to date has confirmed the vein to a vertical depth of 120 feet (36.6 meters), being open at depth.
Drill core is being geologically logged and sampled at the Greenwood facility. The core samples are sawn in half and stored in a secure location. Core samples are being delivered to the ALS Minerals laboratory in Vancouver to be analyzed for gold by Fire Assay – AA and for 33 other elements by Four Acid and ICP-AES. Quality control (QC) samples are inserted at regular intervals.
The analytical results listed below are from the first nine drill holes in the C.O.D area. Since true widths cannot be accurately determined from the information available the core lengths (meters) are reported. The gold and silver grade is reported in grams per ton. The intervals below are from the vein and mineralization envelope intervals. Other low grade mineralization intervals are found in the host rock.
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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