Vancouver, British Columbia – June 06, 2019 – GGX Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company” or “GGX”) announces it has now completed 20 diamond drill holes on the C.O.D. vein at the Gold Drop property in the Greenwood Mining Camp.
The Company deployed one drill rig for in-fill drilling on the C.O.D. vein to explore the vein between and below the significant intercepts obtained last year. The highlights of the 2018 diamond drilling program were drill holes COD18-67 and COD18-70 that intersected near-surface, high-grade gold, silver and tellurium in a newly discovered southern extension of the C.O.D vein. Highlights from 2018 include include the following intercepts:
- COD18-67: 129 g/t gold, 1,154 g/t silver & 823 g/t tellurium over 7.28 meters core length.
- COD18-70: 107 g/t gold, 880 g/t silver & 640 g/t tellurium over 6.90 meters core length.
Since the start of the season in mid-April, 20 holes have been completed for a total of 1217 meters cored. Ten holes intersected the C.O.D. quartz vein at their target depths, of which eight vein intercepts were visibly mineralized with pyrite. Two of the intercepts also contained possible telluride mineralization and one intercept contained visible gold (see attached photo). In the C.O.D. vein, elevated silver, gold and tellurium values are associated with a silver-grey mineral thought to be the telluride mineral named sylvanite, which has the formula (Ag,Au)Te2.
Photo of piece of core from Hole 2019-19 containing visible gold in rusty quartz
The drill core is currently being logged and cut in half with a diamond saw at the Company’s facility in Greenwood, B.C. Half core samples will be shipped for assay early in June.
Further exploratory drilling is also being planned to further test the southern extension of the C.O.D. vein, on the Everest vein that was discovered in 2018, and on the C.O.D. North vein. The Gold Drop mine is also a target for further exploration.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101 and consultant for GGX Gold Corp., is responsible for the technical information contained in this News Release.
On Behalf of the Board of Directors
George Sookochoff, President,
Mr. Jack Singh,
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 Revolver 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.
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