Vancouver, British Columbia – January 9 2019 – GGX Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company” or “GGX”) is pleased to announce it has received drill core analytical results for drill holes COD18-61 to COD18-64 completed during the 2018 November diamond drilling program at its Gold Drop Property near Greenwood, southern British Columbia. The drilling program that was completed at the end of November last year consisted of 11 drill holes (COD18-61 to COD18-71) targeting the gold bearing COD vein, the focus being an area of previous high grade gold drill intercepts. Highlights from 2018 drilling at the COD vein and the Gold Drop Property include:
- COD18-45: 50.1 g/t gold and 375 g/t silver over 2.05 meters.
- COD18-46: 54.9 g/t gold and 379 g/t silver over 1.47 meters.
- COD18-63: 28.0 g/t gold and 424 g/t silver over 1.17 meter core length.
- 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 2018 Fall diamond drilling program tested the COD vein, located in the Gold Drop Southwest Zone. The program followed up on results from earlier 2018 diamond drilling at the southern extension of the COD vein. Two earlier 2018 holes at the southern extension, COD18-45 and COD18-46 (which were drilled at 45 and 50 degree dips to the west from the same site), intersected high grade gold and silver plus significant amounts of tellurium. 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).
Intersections exceeding 1 g/t gold for drill holes COD18-61 to COD18-64 are listed in the table below. Since true widths cannot be accurately determined from the information available the core lengths (meters) are reported.
All of the 2018 Fall drill holes were collared within 25 meters of holes COD18-45 and COD-46. Holes COD18-61 to COD18-66 were drilled to the west and slightly northwest at dips of 45 to 60 degrees to intersect the approximately northeast striking COD vein. Holes COD18-67 to COD18-71 were drilled at dips of 45 to 60 degrees slightly northeast to intersect the COD vein at a shallower angle, the purpose being to test the continuity of the quartz veining and mineralization. The high grade intercept of drill hole COD18-63 is at approximate 20 meter vertical depth (similar depth of high grade intercept of drill hole COD18-45) and approximately 5 meters north of the high grade intercept of drill hole COD18-45.
The COD vein system is open to the northeast and at depth and possible open to the southwest.
The drill core was split at a secure location in Greenwood with half core samples securely packaged and delivered to ALS Canada Ltd. in Vancouver, BC for preparation and analysis. The core samples were analyzed for gold by Fire Assay-AA and for 48 elements (including silver and tellurium) by Four Acid – ICP-MS. Samples exceeding 100 g/t silver were re-analyzed for silver by Four Acid – ICP-AES. 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.
On Behalf of the Board of Directors,
Barry Brown, Director
Mr. Jack Singh, 604-488-3900
“ 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.
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