Vancouver, British Columbia – October 21, 2021 – GGX Gold Corp. (TSX-V: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company” or “GGX”) is pleased to provide an update on its exploration work at the Company’s 100% owned Gold Drop property in the Greenwood Mining Camp in British Columbia, Canada.
Photo: Drilling at the Lively Vein in 2021
Diamond drilling commenced on June 8, 2021 and a total of 25 drill holes were completed totaling 1,616.8 metres. The program started by drilling the Perky vein where 12 drill holes (444.9 metres) were completed to test the northern lateral extension of the Perky vein. The drilling rig was then moved over to test the Lively vein where a total of 12 holes (1,061.2 metres) were also drilled. One hole (110.7 metres) was drilled to test for a northern extension of the COD vein beneath a mineralized vein in surface outcrop.
Photo of quartz vein intercept in hole LVY21-05
The Perky vein was intersected in several holes. The Lively vein was intersected at depth where it consists of quartz stringers. A new vein, mineralized with pyrite, was intersected to east of the Lively vein in several holes.
Photo of coarse pyrite mineralization in quartz vein intercept in hole LVY21-007
Drilling originally planned for the Gold Drop vein was postponed due to the risk of fire when working in the forest during the extreme heat this past summer. The weather has now cooled expectations are to resume drilling.
Core logging and sampling was completed in July and August and samples were submitted in August for assay. Results are pending at this time.
David Martin, P.Geo., a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, approved the technical information in this release.
Analyses disclosed in this release were conducted by ALS Global – Geochemistry Analytical Lab in North Vancouver, BC, Canada. ALS is an independent, fully accredited commercial laboratory. All mineralized vein samples were analyzed by the metallics sieve method (ALS Code Au-SCR24) with gold determination by fire assay. For other samples, gold was determined by the fire assay method using a 50-gram sample weight and AA finish. Over-limits were re-analyzed by fire assay using a gravimetric finish. Other metals were analyzed as part of a 48-element package using a four-acid digestion and determination by ICP-MS.
On Behalf of the Board of Directors
Barry Brown, CEO
or Call Greg , 360 Aviation at 604-671-3327
Forward Looking Statement
This News Release may contain forward-looking statements including but not limited to comments regarding the acquisition of certain mineral claims. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and GGXGold undertakes no obligation to update such statements, except as required by law.
Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates, including that: the current price of and demand for minerals being targeted by the Company will be sustained or will improve; the Company will be able to obtain required exploration licences and other permits; general business and economic conditions will not change in a material adverse manner; financing will be available if and when needed on reasonable terms; the Company will not experience any material accident; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties, 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; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; potential inability to find suitable acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company’s public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
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.