GGX Gold Initiates Fall Drill Program On the Gold Drop Property Southern British Columbia
GGX Gold Initiates Fall Drill Program
On the Gold Drop Property
Southern British Columbia
Vancouver, British Columbia – Oct 30, 2018 – GGX Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company” or “GGX”) is pleased to announce it has commenced the fall 2018 diamond drilling program on the Gold Drop Property near Greenwood, southern British Columbia. The program will focus on the gold bearing COD Vein, located in the Gold Drop Southwest Zone. Highlights for the Gold Drop Property, including COD Vein include:
- 2017 and 2018 drill intersections (core length) of 50.1 g/t gold over 2.05 meters, 54.9 g/t gold over 1.47 meters and 4.59 g/t gold over 16.03 meters at COD Vein.
- Gold and silver bearing quartz veins in multiple regions of the property with high grade gold reported (samples exceeding 1 oz. / ton gold reported).
- Historic gold and silver production at the Gold Drop, North Star, Amandy and Roderick Dhu vein systems.
The objective of the diamond drilling program is to follow up on the high grade intersections in the COD Vein system, specifically in the area of earlier 2018 drill holes COD18-45 and COD18-46. Hole COD18-45 intersected of 50.1 grams per tonne (g/t) gold and 375 g/t silver over 2.05 meter core length, including 167.5 g/t gold, 1,370 g/t silver and >500 g/t tellurium over 0.46 meter core length (News Release of August 15, 2018) . COD18-46 intersected 54.9 g/t gold and 379 g/t silver over a 1.47 meter core length, including 223 g/t gold, 1,535 g/t silver and greater than 500 g/t tellurium over a 0.30 meter core length (News Release of August 22, 2018).
The current drill program will test the continuation of gold mineralization at depth below the intersections of drill holes COD18-45 and COD18-46 and to the south of these holes.
Gold bearing quartz vein with high grade gold in drill hole COD18-45
(50.1 g/t gold over 2.05meters)
Both COD18-45 and COD18-46 are approximately 160 meters southwest of the area of 2017 trenching at the COD Vein and approximately 220 meters southwest of drill hole COD17-14 which intersected 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).
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.