GGX Gold Soil Sampling Program Gold Drop Project Greenwood BC
GGX Gold Soil Sampling Program Gold Drop Project Greenwood BC
Vancouver, British Columbia – August 31, 2017 – GGX Gold Corp. (TSXV: GGX), (OTC Pinks: GGXXF), (the “Company” is pleased to announce the completion of a detailed soil sampling and prospecting program at the Company’s Gold Drop Property. The program was completed in the Gold Drop Southwest Zone in the area of the C.O.D Vein. The area of interest is located north of the current trench and drill pad locations. The objective of the soil sampling and prospecting program was to help identify the continuity of the C.O.D Vein and possible structures between the C.O.D and the C.O.D North Zone.
The C.O.D Vein is a Dentonia/Jewel style quartz vein that has been exposed on surface during the 2017 field season. To date 200 meters of trenching has exposed over 160 meters of vein. Analytical results for 68 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).
Detailed East-West soil traverses with 25 meter sample spacing have been completed in the area. Soil samples from the B horizon have been collected. The area is moderately steep with local soil and minimum glacial till only found in valley bottoms and depressions. To date 160 soil samples have been collected with a second survey currently underway in the C.O.D north area. The purpose of the second survey is to identify targets between the veins.
During the soil sampling program a small 2 meter deep adit was discovered 175 meters north of the C.O.D trench. The adit is driven on a North-south striking quartz vein that is on strike with the C.O.D vein and appears to be of the same Dentonia/Jewel style quartz vein. Samples have been collected and shipped to ALS Minerals in Vancouver for analysis.
The area of this newly discovered adit is a trenching target. The objective of future trenching in this area is to define the vein trend and possible length. The area map of the C.O.D worksite is presented in the following map with the newly discovered adit plotted.
Readers are warned that historical records referred to in this News Release have been examined but not verified by a qualified person. Further work is required to verify that historical assays referred to in this News Release are accurate.
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: 604-720-6598 E-mail: firstname.lastname@example.org
“ 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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