Vancouver, British Columbia – August 6th 2020 GGX Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company” or “GGX”) is pleased to provide an update on its on-going exploration work at the Gold Drop property in the Greenwood Mining Camp.
Trenching started at the C.O.D. vein at its southern end. Where the vein was exposed it contains pyrite mineralization, typical of areas in this vein that assay high in gold. Follow-up drilling will be done based on the results.
Next, two new veins were discovered by trenching quartz boulders located west of the COD vein. The first discovery vein ranges up to 0.5 metres thick and locally contains possible visible gold associated with pyrite, chalcopyrite and a grey sulphide mineral that is likely a telluride mineral. In the main C.O.D vein, elevated silver, gold and tellurium values are associated with a soft silver-grey mineral. This mineral is speculated to be Sylvanite (Ag,Au)Te2 a silver-tellurium-gold mineral that is believed to be the source of gold and tellurium in the higher grade sections of the main COD vein (see news release March 7, 2019).
Micro-photo of possible visible gold in new discovery vein at COD West.
Photo of channel sampling at trench on new discovery vein at COD West
Photo of excavator trenching second discovery vein at COD West.
Map showing GGX mineral property located 3 km north of Greenwood, BC, showing relative locations of trenching areas.
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.
On Behalf of the Board of Directors
Barry Brown, CEO
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 the Company 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