VANCOUVER, BC / ACCESSWIRE / July 24, 2017 / GGX Gold Corp. (TSX-V: GGX) (the "Company" or "GGX") GGX Gold is pleased to announce the discovery of a new gold and silver bearing quartz vein in the Gold Drop South West zone. The vein, now referred to as the Everest Vein, was discovered by hand pitting a zone of local quartz float, which resulted in exposing the vein in-situ. The initial grab sample of the vein from the hand pit returned assays of 34.1 g/tonne or 1.0 Troy ounces / ton of gold and 233 g/tonne silver. The sample was analyzed at ALS Minerals (gold by Fire Assay AA and silver by four acid ICP-AES).
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The discovery of the Everest Vein was the result of a recent prospecting program, initiated in an area now more easily accessible due to logging activities. This new vein is located approximately 600 meters southwest of the C.O.D. shaft and on strike with the newly exposed C.O.D. Vein. The Company is currently conducting diamond drilling at the C.O.D. Vein.
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Since discovery of the Everest Vein outcrop the GGX team has followed up with a second excavator, trenching the vein. To date 40 meters of trenching has been completed and the vein has been chip and channel sampled with samples recently submitted to ALS Minerals. The Everest Vein is mineralized with pyrite and what the company geologists speculate is the gold telluride Calaverite. Visible gold has also been found in the Everest Vein in three locations along the newly exposed structure.
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The GGX team will focus on expanding the mineralized Everest Vein to the north by means of excavator trenching. Drilling of this area will be dependent on the chip and channel sample assay results.
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
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Investor Relations:
Mr. Jack Singh
604-720-6598, E-mail: [email protected]
"We don't have to do this, we get to do this." The GGX Team
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.