GGX Gold Reviews 2018 Exploration Season at the Gold Drop Property
GGX Gold Reviews 2018 Exploration Season at the Gold Drop Property
Vancouver, British Columbia – Feb 27, 2019 – GGX Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company” or “GGX”) is pleased to recap highlights of the 2018 exploration season on the Gold Drop Property located in Southern British Columbia. The program focused on the C.O.D vein, located in the Gold Drop Southwest Zone. During the drilling program the company also conducted mechanical trenching on numerous targets.
- Completed 71 diamond drill holes on the C.O.D vein. High-grade intersections include 107.5 g/t gold and 880 g/t silver over 6.90 meters core length and 129 g/t gold and 1,154 g/t silver over 7.28 meter core length (News Releases of January 11 & 18, 2019).
- com lists GGX drill intercept #7th best worldwide to date for 2019
- Extended the C.O.D vein 160 m to the southwest by means of drilling
- Completed 19 diamond drill holes on the Everest vein
- Discovered the southern extension of the Gold Drop vein by means of mechanical trenching
- Completed 30 m of trenching on the Silent Friend Vein
- Completed thorough trenching program in the C.O.D North region of the property
Picture: First C.O.D Vein discovery and sample, May 2017
The Gold Drop Property covers 5,628 hectares of geologically prospective ground in the well-mineralized Greenwood District, and hosts 8 or more known low-sulfide, gold-bearing veins or vein systems. These historical showings have had limited modern exploration. Recently, the Greenwood area has had a renewed interest by major and junior companies exploring precious and base metals in the district.
The 2018 diamond drill program carried out by the Company focused on the C.O.D vein. The vein was first identified to be a target of interest in the spring of 2017. Following initial sampling of the vein the Company conducted mechanical trenching and drilling. The results of the 2017 program were encouraging and the Company launched a winter drill program in 2018. The program followed up on the 2017 drilling. The Company completed additional diamond drilling during the fall of 2018, completing a series of exploration holes south of the C.O.D trench. Here the holes intercepted the vein, successfully extending the vein by 160 meters.
During 2018 a total of 71 diamond drill holes were completed on the C.O.D vein structure and 19 diamond drill holes were completed on the Everest vein for a total of 5,616 meters of drilling. The highlights of the program are COD18-67 that intersected 129 grams per tonne (g/t) gold and 1,154 g/t silver over 7.28 meters core length and COD18-70 which intersected 107.5 g/t gold and 880 g/t silver over 6.90 meters core length. The highlights of the drilling are listed in the following table.
Note: Due to some tellurium drill core analyses being greater than the upper analytical limit of 500 g/t the weighted average value for tellurium could not be calculated for some intervals.
The 2018 trenching program was completed on targets located during the 2017 soil geochemical sampling program. The most significant discovery during the trenching is the southern extension of the historic Gold Drop Vein. Historic production from the Gold Drop Vein System is reported to be 335 tonnes mined during 1926-1988 (mainly during 1933-1941) with 5,020 grams of gold (14.99 g/t gold) and 35,894 grams of silver (107.1 g/t silver) recovered. Grab samples collected from this vein during 2018 assayed up to 3.37 g/t gold and 43.9 g/t silver.
The company completed a thorough trenching program in the C.O.D North area. This area is located approximately 600m to the north of the C.O.D drilling worksite. Here the company conducted trenching on targets identified during the 2017 soil geochemical sampling program.
Several quartz vein outcroppings were located and sampled in the trenches. The highlights include grab sample 112753 of rusty quartz vein that assayed 15.45 g/t gold, 159 g/t silver and 114.5 g/t tellurium; and sample 112759, a chip sample across a 40 centimeter wide northeast-southwest striking sub-vertical quartz vein, that assayed 21.7 g/t gold, 216 g/t silver and 149 g/t tellurium. The table below outlines the chip sample assays obtained.
The Company is very pleased with the results obtained during the 2018 season. Plans are being finalized for 2019 and everyone at GGX is excited for the 2019 field season!
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.