Vancouver, British Columbia – July 15 2020 GGX Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company” or “GGX”) is pleased to provide an update on the 2020 exploration program at the Gold Drop property in the Greenwood Mining Camp.
This field season began with development and implementation of protocols and measures to prevent and control the risk of transmission of COVID-19. Personnel received training and individual daily temperature self-monitoring was implemented.
Initial field work has focussed on preparation for trenching and drilling, with targets being marked out at the C.O.D. vein, Rhoderick Dhu, and Gold Drop mine areas. These areas will be trenched first and then drilled. Also, all the previous drill holes and trenches from 2017 and 2018 at the COD were surveyed with a Trimble Geo7X instrument for sub-meter accuracy, and prospecting and rock sampling was started. Trenches were marked at two parallel veins located west of the C.O.D., one of which returned a grab sample last year that assayed 55.8 grams per tonne gold and greater than 100 grams per tonne silver.
Most recently, an excavator was mobilized to site to start the trenching program. The first trench will be on the C.O.D. vein at its southern end where some of the world’s best intercepts of the year were obtained (as announced in a news release dated March 18, 2019):
• 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.
Photo of part of the Gold Drop Property showing the location of target areas.
Photos of geologists in the field at Gold Drop Property showing shaft at Rhoderick Dhu (left), and locating the gold-bearing parallel quartz vein west of C.O.D. (right)
Aerial photo showing excavator preparing to trench at C.O.D. area.
Analytical results reported above were provided by ALS Laboratories in North Vancouver, BC., an independent and accredited commercial laboratory. Analyses for gold were done by fire assay with AA finish on 50 gram sub-samples, or by metallics sieve analyses. Analyses for silver were by four acid digestion with ICP-MS finish. Quality control was monitored using analytical results for reference standards and blank samples inserted into the sample stream at a frequency of 5% each.
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.