GGX Gold Completes Phase II Drilling Program and receives additional Drill Core Sample Results, including 10.8 g/t Gold over 0.3 Meters, Gold Drop Property, Greenwood BC
VANCOUVER, BC / ACCESSWIRE / October 4, 2017 / GGX Gold Corp. (GGX.V) (the "Company" or "GGX") is pleased to announce the completion of Phase II diamond drilling on the Gold Drop Property near Greenwood, BC and receipt of additional drill core sample analytical results from drill holes COD17-15 to COD17-20. The Company recently ceased diamond drilling on the property and is waiting for additional Phase II core sample analyses which are expected any time.
The second phase of the diamond drill program aimed at exploring and defining the COD Vein, a Dentonia/Jewel style quartz vein, located in the Gold Drop Southwest Zone. Trenching during 2017 has exposed the northeast - southwest striking COD Vein for over 160-meter strike length.
To view an image of a drill site, please click on the following link:
https://www.accesswire.com/uploads/100417_ggximage1.jpg
The Company had previously received analytical results for 68 trench channel samples collected at the COD Vein. These samples returned anomalous to high-grade values for gold, including high values of 43.2 grams / tonne (g/t) /t Gold and 224 g/t Silver (News Release of July 26, 2017). The first batch of 2017 drill core samples for the COD Vein returned up to 24.1 g/t Gold and 192 g/t Silver (News Release of Aug 28, 2017). The second batch of drill core samples also returned significant gold and silver values including a broad intersection in hole COD17-14 grading 4.59 g/t Gold and 38.64 g/t Silver over 16.03 meters core length with a high grade core grading 10.96 g/t Gold and 89.86 g/t Silver over 5.97 meters core length (News Release of Sept 7, 2017).
The Phase II drilling program aimed to delineate the COD Vein in the Gold Drop Southwest Zone from 2 pad locations in the northern extent of the trench, 100 and 160 m north of the COD mine shaft. The Phase II drilling totaled 12 holes (687 meters).
To view an image of the Gold Drop South area, please click on the following link:
https://www.accesswire.com/uploads/100417_ggximage2.png
Drill core was geologically logged and sampled at the Greenwood facility. Drill core was sawn in half with half-core samples submitted for analysis and remaining half core stored in a secure location. Core samples were delivered to the ALS Minerals laboratory in Vancouver to be analyzed for gold by Fire Assay – AA. The samples from holes 15 to 20 were also analyzed for 48 Elements by Four Acid and ICP-AES / ICP-MS. Quality control (QC) samples are inserted at regular intervals.
To view an image of a core sample, please click on the following link:
https://www.accesswire.com/uploads/100417_ggximage3.jpg
The analytical results listed below are from holes COD17-16 to COD17-20, testing the COD Vein. Since true widths cannot be accurately determined from the information available the core lengths (meters) are reported. The Gold and Silver analyses are reported in g/t. The intervals listed in the table below are from the gold and silver bearing vein and / or adjacent low-grade mineralized host rock. The Phase II drill core sampling also revealed other intervals with low-grade gold in veining and / or host rock.
HOLE ID | From (m) | To (m) | Interval length (m) | Au g/t | Ag g/t |
COD17-16 | 35.56 | 35.86 | 0.3 | 10.8 | 123 |
COD17-16 | 52.21 | 52.33 | 0.12 | 11.45 | 99.3 |
COD17-19 | 20.37 | 21.34 | 0.97 | 1.42 | 9.88 |
COD17-19 | 49.03 | 49.41 | 0.38 | 2.28 | 16.4 |
"We are very pleased with the results of the drilling, especially given the presence of significant gold and silver values along the COD Vein including a broad intersection in hole COD 17-14 grading 4.59 g/t gold and 38.64 g/t silver over a 16.03 metre core length" said Barry Brown Chief Executive Officer of GGX Gold. "We look forward to receiving the results of the remaining assays and planning future work on the property."
Quartz veins in COD17-14
To view the image of the Quartz Veins, please click on the following link:
https://www.accesswire.com/uploads/100417_ggximage4.jpg
David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.
On Behalf of the Board of Directors,
Barry Brown, Director
604-488-3900
Investor Relations:
Mr. Jack Singh: 604-720-6598 E-mail: ir@ggxgold.com
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The Crew
Forward Looking Information
This news release includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, the Company's information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks 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; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed at the Gold Drop Property. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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.
