GGX Gold Drilled 4.23 Meters at 8.75 g/t Gold & 15.2 g/t Gold in Surface Sample Gold Drop Property, Greenwood BC
GGX Gold Corp. reported promising results from its 2020 exploration program at the Gold Drop property. Notable drill assays include 27.7 g/t gold over 1.18 meters and 11.95 g/t gold over 0.59 meters. The weighted average for hole COD20-10 is 4.23 meters grading 8.75 g/t gold. Additionally, a surface sample revealed 15.2 g/t gold and 99.9 g/t silver. These results suggest an extension of the high-grade mineralization discovered in previous years. Further assays from remaining holes are pending.
- Significant drill results indicating high-grade mineralization: 27.7 g/t over 1.18 m and 11.95 g/t over 0.59 m.
- Weighted average of 4.23 m grading 8.75 g/t gold in hole COD20-10.
- High gold and silver assay from surface rock chip sample (15.2 g/t gold and 99.9 g/t silver) suggests potential for further exploration.
- Hole 8 did not intersect significant gold values, possibly indicating a termination of the mineralized zone at depth.
VANCOUVER, BC / ACCESSWIRE / February 4, 2021 / GGX Gold Corp. (TSXV:GGX)(OTCQB:GGXXF)(FRA:3SR2) (the "Company" or "GGX") is pleased to announce further results of its 2020 exploration program at the Gold Drop property in the Greenwood Mining Camp of south-central British Columbia.
Assay results were received for drill holes 8 to 10 on the C.O.D vein and two surface rock chip samples from the Gold Drop property. Highlights from the drill core assays include 27.7 grams per tonne gold over 1.18 meters in hole 10, and 11.95 grams per tonne gold over 0.59 meters in hole 9. Significant drill core assay results are provided in the table below.
Photo of large boulder dug up while trenching on Lively vein in 2020.
Hole | From (m) | To (m) | Length (m) | Gold (g/t) |
COD20-09 | 15.61 | 16.28 | 0.67 | 2.22 |
COD20-09 | 16.28 | 16.60 | 0.32 | 1.75 |
COD20-09 | 18.20 | 18.79 | 0.59 | 11.95 |
COD20-10 | 17.57 | 17.97 | 0.40 | 2.44 |
COD20-10 | 17.97 | 18.66 | 0.69 | 0.53 |
COD20-10 | 18.66 | 19.67 | 1.01 | 0.64 |
COD20-10 | 19.67 | 20.62 | 0.95 | 2.45 |
COD20-10 | 20.62 | 21.8 | 1.18 | 27.7 |
Abbreviations: g/t = grams per tonne, m = meters
The weighted average for the intercept from 17.57 to 21.8 meters in hole COD20-10 is:
4.23 meters grading 8.75 grams per tonne gold
Holes COD20-09 and 10 were drilled to test the northern limit of an area of high-grade mineralization that was discovered in 2018 and drilled in 2018 and 2019. The significant results for these holes indicate that the mineralized zone extends a few meters further north than previously defined. Hole 8 was drilled slightly deeper and intersected only clay altered granodiorite with no significant gold values, possibly indicating the mineralized zone terminates within a faulted zone at depth.
The highlight from the surface rock chip samples is a 15.2 gram per tonne gold plus 99.9 gram per tonne silver assay from a grab sample of quartz that was turned up during the trenching on the Lively vein. In 2020, the Lively vein was exposed by trenching along strike for 29.5 meters before it disappeared under thick overburden. The vein exposed in the trench ranged up to 0.2 meters in width and averaged 1.89 grams per tonne gold (see news release dated November 11, 2020). The significant gold assay just received is for a sample collected from a large boulder that appears unlike the Lively vein (larger in width and higher grade). Further investigation is warranted to determine if this quartz boulder possibly originated from a different vein located nearby.
Analytical results are pending for the remaining holes drilled on the C.O.D. structure and several holes drilled on the Perky vein.
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. Gold was determined by the fire assay method using a 50-gram sample weight and AA finish, with over-limits checked using a 50-gram sample weight and gravimetric finish. Quartz vein material in drill core was analyzed by the metallics screening method. Other metals were analyzed as part of a 48-element package using a four-acid digestion and determination by ICP-MS.
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
604-488-3900
Office@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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