GGX Gold Report Assays from Holes 28 to 48 at Gold Drop

GGX Gold Corp.


GGX Gold Report Assays from Holes 28 to 48 at Gold Drop

Friday, December 13, 2019 3:05 AM

VANCOUVER, BC / ACCESSWIRE / December 13, 2019 / GGX Gold Corp. (TSXV:GGX)(OTCQB:GGXXF)(FRA:3SR2) (the "Company" or "GGX") is pleased to announce assay results from holes drilled this season at its Gold Drop property in the Greenwood Mining Camp.

In 2019, a total of 3,160 metres were drilled in 49 holes to test the C.O.D. and C.O.D. North veins, and 719 metres in Hole AMT19-01. Holes COD19-34 to 43 were drilled on the C.O.D. North Vein. Significant results for samples collected from holes COD19-28 to 48 are provided in the tables below.

Hole

From

To

Length
(m)

Gold
(g/t)

Silver
(g/t)

Tellurium
(ppm)

Description

COD19-29

41.24

41.88

0.64

3.98

38.3

23.0

Quartz vein, pyrite

COD19-29

43.61

44.00

0.39

8.74

94.7

55.1

Quartz veinlet + altered rock

COD19-30

40.36

40.85

0.49

42.00

465.0

403.0

Quartz vein, pyrite, telluride

COD19-30

40.85

41.43

0.58

9.60

107.0

76.5

Quartz vein, pyrite, telluride

COD19-31

36.45

36.98

0.53

20.90

220.0

163.0

Quartz vein, pyrite

COD19-31

36.98

37.45

0.47

17.80

160.0

132.5

Quartz vein, pyrite, telluride

COD19-38

36.05

36.49

0.44

5.65

38.8

26.3

Quartz veinlet + altered rock

COD19-38

36.49

36.80

0.31

1.11

7.6

5.5

altered rock, pyrite

COD19-38

38.39

38.71

0.32

58.30

384.0

355.0

Quartz vein, pyrite, telluride

COD19-45

49.45

50.00

0.55

21.20

224.0

133.5

Quartz vein, pyrite, telluride

COD19-45

50.00

50.50

0.50

9.70

69.4

48.3

Quartz vein, pyrite

COD19-45

50.50

51.00

0.50

2.30

23.9

13.9

Quartz vein, pyrite

COD19-45

51.00

51.44

0.44

2.65

75.1

26.9

Quartz vein, pyrite

COD19-46

32.52

33.00

0.48

41.20

431.0

314.0

Quartz vein, pyrite, telluride

COD19-46

33.00

33.50

0.50

84.70

769.0

700.0

Quartz vein, pyrite, telluride

COD19-47

29.74

30.09

0.35

74.90

796.0

700.0

Quartz vein, gold, pyrite, telluride

COD19-48

27.54

28.00

0.46

7.88

78.0

54.4

Quartz vein, pyrite


Abbreviations: m=meters, g/t = grams per tonne, ppm = parts per million (equivalent to grams per tonne)

Note: The lengths reported in the table above are core interval lengths and not true widths. There is insufficient information at this time to estimate true widths.

The weighted average grades for the intercepts in holes 30, 38, 45, and 46 are as follows:

Hole

From

To

Length
(m)

Gold
(g/t)

Silver
(g/t)

Tellurium
(ppm)

Description

COD19-30

40.36

41.43

1.07

24.44

270.9

226.0

Quartz vein, pyrite, telluride

COD19-38

36.05

36.80

0.75

3.77

25.9

17.7

Quartz veinlet + altered rock

COD19-45

49.45

51.44

1.99

9.46

102.0

58.5

Quartz vein, pyrite, telluride

COD19-46

32.52

34.00

1.48

42.81

404.8

342.8

Quartz vein, pyrite, telluride


These results provide further confidence in the potential for economic mineralization in the COD vein at the Gold Drop property. The results add to the list of mineralized intercepts disclosed previously.

Analytical results reported above were provided by ALS Laboratories in North Vancouver, BC., which is an independent and accredited commercial laboratory. Analyses for gold were done by fire assay with AA finish on 50 gram sub-samples, or by metallics sieve analyses. Analyses for silver and tellurium were by four acid digestion with ICP-MS finish. Silver results greater than 100 ppm, and Tellurium results greater than 500 ppm, were reanalyzed using a four-acid digestion and ICP-AES or AAS finish on a 0.4g sub-sample. Quality control was monitored using analytical results for reference standards and blank samples inserted into the sample stream at a frequency of 5% each.

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, Director
604-488-3900
[email protected]

Investor Relations:

Mr. Jack Singh,
604-488-3900,
[email protected]

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 GGX Gold 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.


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