GGX Gold Initiates Trenching Program On the Gold Drop Property Southern British Columbia
GGX Gold Initiates Trenching Program
On the Gold Drop Property
Southern British Columbia
Vancouver, British Columbia – Oct 17, 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 trenching program on the Gold Drop property near Greenwood, southern British Columbia. Trenching is being conducted in the east region of the property in the area of gold bearing veins. Property highlights include:
• Gold and silver bearing veins in various region of the property with recent and historic samples exceeding 1 oz./ ton gold.
• Positive results from recent drilling the COD and Everest gold bearing veins including intersections of 50.1 g/t gold over 2.05m and 54.9 g/t gold over 1.47m.
• Excellent infrastructure with property bordering the town of Greenwood.
• Several mills in the district within trucking distance of the property.
The focus of the fall 2018 trenching program is the Silent Friend and Ken gold bearing veins near the Gold Drop and North Star gold and silver bearing vein systems. Most of the historic work and production has occurred at the Gold Drop and North Star vein systems. The 2017 prospecting program yielded significant results including 297 grams per tonne gold (g/t) and 1290 g/t silver sampled in dump pile quartz from what is believed to be the southern Silent Friend showing. Samples from a mineshaft dump pile north of this exposure assayed 6.98 g/t gold and 38.6 g/t silver. Samples collected from a mineshaft to the south, speculated to be the Ken mineshaft, assayed 4.47 g/t gold and 23.0 g/t tonne silver (News release November 8, 2017).
Visible gold in Silent Friend dump pile
(297 g/t Gold and 1290 g/t Silver)
The objective of the program is to locate and trace the quartz veins in between the historical workings. Modern trenching has proven to be useful on the Gold Drop Property by extending veins where historical trenches failed. An example is the recent discovery of the Gold Drop extension south of historic workings (News Release of September 20, 2018).
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.