InvestmentPitch Media Video Discusses GGX Gold’s Reviewing of Previous Assays including 994 ppm Tellurium from Previous Drill Intercepts to Locate New Targets at Gold Drop Property in Southern BC

Rhea-AI Summary

GGX Gold Corp. has updated investors on its Gold Drop property in British Columbia, responding to rising interest in tellurium. This 100% owned property, located in the historic Greenwood mining camp, has previously yielded significant gold, silver, and copper. A review of past assays indicates high tellurium concentrations, with values reaching 994 ppm in drill samples. The company plans to conduct resampling to quantify these findings, aiming to capitalize on the increasing demand for tellurium, especially in solar panel manufacturing and battery technology, amid a projected supply shortage.

Positive

• High tellurium concentrations observed, with 994 ppm in drill samples.
• Strategic focus on tellurium due to rising demand in critical mineral markets.
• Gold Drop property located in a historically rich mining area.

Negative

• Source of tellurium at Gold Drop remains unknown.
• Limited previous analyses may hinder understanding of tellurium distribution.

VANCOUVER, British Columbia, Jan. 06, 2023 (GLOBE NEWSWIRE) -- GGX Gold Corp. (TSXV:GGX) (OTCQB:GGXXF) (FSE:3SR), in response to the recent interest in tellurium, has provided an update on its Gold Drop property in southern British Columbia. The 100% owned Gold Drop Property, is located 3 kilometers north of Greenwood, in the prolific Greenwood mining camp, which has a long history of mining having produced 1.4 million ounces gold, 10 million ounces silver and 0.7 billion pounds copper.

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A review of previous analytical results shows that elevated tellurium is associated with high gold concentrations in the C.O.D., Perky, and Ken veins. However, data are limited because tellurium analyses were not routinely performed prior to 2018. As such, Tellurium values remain unknown over much of the property and could be present in significant amounts in other known gold-rich veins.

A comprehensive review of tellurium results is underway and a plan for re-sampling is being laid out to quantify the tellurium concentrations, which were as high as 994 ppm in drill intercepts and greater than 500 ppm in rock samples.

Although the source of the tellurium at Gold Drop is unknown, tellurium is associated with gold mineralization world-wide in deposits associated with alkaline to subalkaline igneous host rocks. The area surrounding the gold-tellurium enriched C.O.D., Perky and Everest veins is of particular interest because several lineaments have been identified recently on the digital elevation model that strike parallel to the C.O.D. vein. These lineaments are interpreted as fractures and faults that could host parallel gold-tellurium bearing veins.

Drilling targets are now being re-evaluated for 2023.

Barry Brown, CEO, stated: “Critical minerals are essential to powering the clean energy transition to a low-carbon and digitalized economy. Current projections for significantly increased demand of critical minerals are far overwhelming current supply. Canada has made it a priority to foster domestic critical mineral exploration, and GGX Gold Corp. will endeavour to take full advantage of the opportunity that lies ahead with a focus on tellurium as well as gold.”

Tellurium is one of 31 minerals included in Canada’s Critical Minerals Strategy. This Strategy, backed by nearly $4 billion in Budget 2022, sets out a course for Canada to become a global supplier of choice for critical minerals and the clean digital technologies they enable.

The largest use of tellurium in the past decade has been in the manufacture of thin-film photovoltaic solar panels. Researchers are currently finding that electrodes made from tellurium can improve the energy storage and power output of rechargeable lithium-ion batteries. The forecasted demand for tellurium already exceeds global supply, without the added demand from the battery industry.

The shares are trading at $0.075. For more information, please visit the company’s website at www.GGXgold.com, contact Barry Brown, CEO, at 604-488-3900 or email office@GGXgold.com or for investor relations email IR@GGXgold.com.

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Disclaimer

The information in this InvestmentPitch Media Ltd video is for the viewers information only. GGX Gold has paid a fee not exceeding $2,000 in cash to have its current news release produced in video format. The corporate information is based on information that is publicly available. Any information provided by InvestmentPitch Media Ltd., through its media services is not to be construed as a recommendation or suggestion or offer to buy or sell securities but is provided solely as an informational media service. InvestmentPitch Media Ltd makes no warranties or undertakings as to the accuracy or completeness of this information. All due diligence should be done by the viewer or their financial advisor. Investing in securities is speculative and carries risk.

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FAQ

What is the latest update from GGX Gold Corp regarding the Gold Drop property?

GGX Gold Corp reported high tellurium concentrations at its Gold Drop property and plans to re-sample to quantify these findings.

Why is GGX Gold focusing on tellurium now?

The focus on tellurium is due to its inclusion in Canada’s Critical Minerals Strategy and growing demand for its use in solar panels and batteries.

What are the tellurium levels reported at the Gold Drop property?

Tellurium levels at the Gold Drop property reached as high as 994 ppm in drill intercepts.

How does the historical significance of the Greenwood mining camp affect GGX Gold?

The Greenwood mining camp has a rich history of gold mining, which may enhance the potential value of GGX Gold's exploration efforts.

What is GGX Gold's current share price as of January 2023?

The shares of GGX Gold are currently trading at $0.075.