GGX Gold to Test New Technology on a Newly Discovered Geophysical Anomaly
Thursday, July 4, 2019 9:00 AM
VANCOUVER, BC / ACCESSWIRE / July 4, 2019 / GGX Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the "Company" or "GGX") announces that it is planning to drill a high priority geophysical target at its Gold Drop property in the Greenwood Mining Camp.
The proprietary Stargate II (SG II) Drill Target Modeling System incorporates Acoustic EM analysis, technology that was developed by Earth Science Services Corporation of Oshawa, Ontario (ESSCO). SG II employs an enhanced, deep-penetrating ultra-sonic AMT (Audio-Magnetotellurics) geophysical survey.
(for more information see the ESSCO Website at: http://www.earthscienceservices.ca/index.php)
The system is in developmental / pre-commercial stage and as such the effectiveness of this technique is not fully known to GGX.
Stargate II surveys were performed by ESSCO over the Republic Graben trend in Washington and B.C. in 2014/2015 at 1 km and 500 metre line spacings. A resultant geophysical anomaly on the Gold Drop property in the Greenwood Mining Camp was supplied by Glenn Galata of ESSCO. The anomaly measures 1834 by 1377 metres, is centered at the intersection of three interpreted major fault conduit structural traces and is located along strike and to the north of the C.O.D. vein trend. Testing the target will require drilling to a depth of at least 400 and up to 764 metres - the deepest ever to be drilled on the Gold Drop property.
Stargate II Anomaly Map:
The anomaly is located at the intersection of corridors identified as "conduit-fault-structural traces". Two of these are coincident with the trend of the C.O.D. vein system and a probable NW-trending cross-fault. The correlation of anomaly corridors with known geological features provides some confidence in the result.
GGX is excited to have the opportunity to engage this new technology with a drill test planned in the coming weeks. If successful, the test at the Gold Drop property could result in the discovery of a new gold deposit or even a new gold deposit type. It could also lead to further investigations utilizing the new geophysical technique in other areas of the Greenwood Mining Camp. View the Video at GGXGOLD
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.
Mr. Glenn Galata, of Earth Science Services Corporation of Oshawa Ontario, reviewed the information in this release pertaining to the Stargate II geophysical system and ESSCO.
On Behalf of the Board of Directors
George Sookochoff, President,
Mr. Jack Singh,
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.
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SOURCE: GGX Gold Corp.