GGX Gold Diamond Drilling Program - 18 New Holes Completed and Continuing
GGX Gold Corp. provides an update on its exploration work at the Gold Drop property in British Columbia. As of now, 18 drill holes have been completed since the program's start on June 8, 2021. The drilling initially targeted the Perky vein, followed by the Lively vein where a new mineralized structure was discovered. The company is transitioning to drill the COD vein after completing the current hole. Notably, GGX will not proceed with previously announced stock options, highlighting a strategic decision amidst ongoing exploration efforts.
- Completion of 18 drill holes to date indicates a robust exploration program.
- Discovery of a new parallel mineralized structure near the Lively vein may enhance resource potential.
- Decision to not issue previously planned stock options may raise concerns about management's confidence in future funding.
VANCOUVER, BC / ACCESSWIRE / July 15, 2021 / GGX Gold Corp. (TSXV:GGX)(OTCQB:GGXXF)(FRA:3SR2) (the "Company" or "GGX") is pleased to provide an update on its exploration work at the Company's
Core logging and sampling are ongoing with all assays pending.
Diamond drilling commenced on June 8, 2021 with a total of 18 drill holes completed to date. The program started by drilling the Perky vein where 12 drill holes were completed to test the northern lateral extension of the vein. The drilling rig was then moved over to test the Lively vein where a total of 6 drill holes have been completed with the seventh drill hole currently in progress. The Lively vein successfully intersected the vein and discovered a parallel mineralized structure to east of the Lively vein, approximately 10-20 cm in true width containing pyrite along the contact margins.
Photo: Drilling at the Perky Vein in 2021
Once drilling of the seventh hole at the Lively vein is complete, the rig will be relocated to the COD vein where one drillhole is planned to test the northern edge of the known mineralization.
The Company also announces that it will not be proceeding with the issuance of stock options previously announced on June 17, 2021.
Sebastien Ah Fat, 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
604-488-3900
Office@GGXgold.com
Investor Relations:
IR@GGXgold.com
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.
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
SOURCE: GGX Gold Corp.
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FAQ
What is the current status of GGX Gold's drilling program at Gold Drop?
What findings were reported from the drilling at the Lively vein?
Has GGX Gold made any changes to its stock options as of July 2021?
When did GGX Gold start its diamond drilling program?
What is the significance of the drilling results for GGX Gold's shareholders?
