VANCOUVER, BC / ACCESSWIRE / November 11, 2020 / GGX Gold Corp. (TSXV:GGX)(OTCQB:GGXXF)(FRA:3SR2) (the "Company" or "GGX") is pleased to provide an update on its active exploration program at the Gold Drop property in the Greenwood Mining Camp of south-central British Columbia.
Photo mosaic of Perky trench showing vein outline sample results.
Assay results were received for two newly discovered quartz veins from the COD West area of the Gold Drop property. The veins, named Perky and Lively, were exposed in trenches that were excavated and sampled this season. The Perky vein lies about 420 metres southwest of the Lively vein.
The Perky vein was exposed over a strike length of 13.8 metres. It is vertically dipping and strikes northwest. A total of 7 rock samples were collected from the Perky vein, of which one was a grab sample and six were channel samples across the vein spaced at between 1.5 and 2.5 metres. The grab sample contained visible gold and assayed 47.6 grams per tonne gold. The channel samples assays ranged between 0.07 and 54.0 grams per tonne gold and the average width of the channel samples if 0.44 metres The length weighted average grade of the channel samples is 22.7 grams per tonne gold, 107.6 grams per tonne silver and 67.0 grams per tonnes tellurium over a sampled length of 10.3 metres (see table below).
|
Sample |
Width m |
Gold g/t |
Silver g/t |
Tellurium g/t |
|
D0006891 |
0.33 |
5.67 |
63.9 |
50.6 |
|
D0006892 |
0.70 |
54.0 |
194 |
134.0 |
|
D0006893 |
0.66 |
0.07 |
0.49 |
0.71 |
|
D0006894 |
0.32 |
31.50 |
184 |
75.0 |
|
D0006895 |
0.34 |
17.25 |
120 |
62.7 |
|
D0006896 |
0.29 |
14.75 |
94.0 |
71.1 |
|
D0004066 |
grab |
47.6 |
303 |
397 |
Photo of excavator at Lively vein trench.
The Lively vein was exposed over 29.5 metres and ranges in width up to 0.2 metres. This vein dips near vertical and strikes northeast. A total of 10 samples were collected from the Lively vein, all of which were channel samples collected across the vein. The assay results for gold range from 0.13 to 6.94 grams per tonne and average 1.89 grams per tonnes gold.
The newly discovered Perky vein assay results are considered very significant and as such, further exploration work is planned. Drilling is scheduled in the coming weeks. The Lively vein is gold bearing and will be drill-tested at depth for increases in grade or width.
Map of Gold Drop Property showing areas of interest.
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,
604-488-3900
[email protected]
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. Other metals were analyzed as part of a 48-element package using a four-acid digestion and determination by ICP-MS.
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.