GOLD DROP PROPERTY WITHIN MULTIMILLION OUNCE GOLD PRODUCTION REGION

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Message: GGX Gold Intersects 107 g/t Gold and 880 g/t Silver over 6.90m Diamond Drilling Program at COD Vein - On the Gold Drop Property BC

GGX Gold Intersects 107 g/t Gold and 880 g/t Silver over 6.90m Diamond Drilling Program at COD Vein - On the Gold Drop Property BC

posted on Jan 18, 2019 05:29PM

January 18, 2019 / GGX Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the "Company" or "GGX") is pleased to announce it has received drill core analytical results for the final four drill holes (COD18-68 to COD18-71) of the November 2018 diamond drilling program at its Gold Drop Property near Greenwood, southern British Columbia. Drill hole COD18-70 intersected near-surface high-grade gold and silver with significant tellurium in the southwest part of the COD quartz vein. This high-grade intersection is in close-proximity to high-grade intersections in drill holes COD18-45, 46 and 67 indicating a high grade ore shoot. The mineralized COD vein system has been traced by drilling and / or trenching for approximately 400 meters strike length and is open to the northeast, at depth and possibly to the southwest. Highlights for COD18-70 include:

  • 107.5 g/t gold and 880 g/t silver over 6.90 meters core length (multiple samples greater than the upper 500 g/t analytical limit for tellurium).
  • High-grade quartz vein intersection is near-surface (18 to 24 meters vertical depth), near high grade intersections of COD18-45, 46 and 67 indicating high grade ore shoot.
  • Part of exploratory shallow drilling designed to define high-grade mineralization and expand the understanding of controls on mineralization.

(To view the full-size image, please click here)

 

The November 2018 diamond drilling program (11 drill holes: COD18-61 to COD18-71) tested the southwest region of the COD vein in an area of high-grade gold and silver mineralization. The COD vein is located within the Gold Drop Southwest Zone. Prior 2018 drill holes in this part of the COD vein intersected near-surface high-grade gold and silver mineralization. The COD vein strikes approximately northeast-southwest.


(To view the full-size image, please click here)

 

Intersections exceeding 1 g/t gold for drill holes COD18-68 to COD18-71 are listed in the table below. Since true widths cannot be accurately determined from the information available the core lengths (meters) are reported.

Hole ID

From (m)

To (m)

Length (m)

Au (g/t)

Ag (g/t)

Te (g/t)

Description

COD18-68

19.49

22.25

2.76

8.77

85.4

56.3

Quartz vein and wall rock

COD18-68

incl. 20.86

22.35

1.39

14.47

131.8

87.9

Quartz vein and wall rock

COD18-69

19.75

20.42

0.67

1.24

9.59

6.55

quartz band

COD18-69

26.72

34.18

7.46

5.76

67.9

61.2

Quartz veins & wall rock; local quartz breccia

COD18-69

incl. 27.30

28.10

0.80

9.77

95

110

Quartz vein

COD18-69

incl. 31.20

31.60

0.40

70.9

569

278

Quartz vein with massive sulfide band

COD18-70

22.57

29.47

6.90

107.5

880

 

Quartz vein with tellurides

COD18-70

incl. 23.3

24.15

0.85

541

4532

>500

Quartz vein with tellurides

COD18-71

28.50

30.30

1.80

1.57

11.7

8.4

Alteration zone

Note: 1-meter core loss in COD18-70 between 22.57 - 29.47m.

All November 2018 drill holes were collared within 25 meters of prior 2018 drill holes COD18-45 and COD-46, the objective to define the high-grade mineralization in this part of the COD vein and to provide information on the controls on mineralization. Drill holes COD18-45 and COD18-46, drilled to the west at 45 and 50 degree-dips, intersected near-surface, high grade gold and silver mineralization in the COD vein (News Releases of August 15 and 22, 2018). Drill holes COD18-67and COD18-70, part of the November 2018 program, intersected high grade gold and silver mineralization in the same area. These holes were drilled slightly northeast at dips of 50 degrees (COD18-67) and 54 degrees (COD18-70) to intersect the COD vein at a shallower angle and test the continuity of the quartz veining and high-grade mineralization. Highlights of these four holes include (core length):

  • COD18-45: 50.1 g/t gold and 375 g/t silver over 2.05 meters
    (including 167.5 g/t gold, 1,370 g/t silver & >500 g/t tellurium over 0.46 meters).
  • COD18-46: 54.9 g/t gold and 379 g/t silver over 1.47 meters
    (including 223 g/t gold, 1,535 g/t silver & > 500 g/t tellurium over a 0.30 meters).
  • COD18-67: 129 g/t gold and 1,154 g/t silver over 7.28 meters
    (multiple samples exceeding upper 500 g/t analytical limit for tellurium).
  • COD18-70: 107.5 g/t gold and 880 g/t silver over 6.90 meters
    (multiple samples exceeding upper 500 g/t analytical limit for tellurium).
  • The close-spaced intersections of COD18-45, 46, 67 and 70 all occur within 18-25 meters vertical depth indicating a high-grade ore shoot.

Analytical results for drill holes COD18-61 to COD18-64 were reported in the Company's News Release of January 9, 2018, the highlight being 28.0 g/t gold, 424.7 g/t silver and 150.4 g/t tellurium over 1.17 meters core length in COD18-63. Analytical results for drill holes COD18-64 to COD18-67 were reported in the Company's News Release of January 11, 2019, the highlight being the intersection of 129 g/t gold and 1,154 g/t silver over 7.28 meters core length in COD18-67.

Holes COD18-61 to COD18-66 were drilled to the west and slightly northwest at dips of 45 to 60 degrees to intersect the approximately northeast striking vein(s). Holes COD18-67 to COD18-71 were drilled at dips of 45 to 60 degrees slightly northeast to intersect the vein(s) at a shallower angle, the objective being to test the continuity of the quartz veining and mineralization. Although drill holes COD18-67 and COD18-70 were not drilled perpendicular to the strike of the COD vein, they still show the exceptional high-grade nature of the vein, possibly being, or leading to, a "motherlode"-style feeder system. As the Company continues reminding of the old saying "we drill for structure and we drift for grade", both holes indicate how potential drifting may encounter the vein in case a potential production decision can be made in the future. Drilling along veins at slight angles helps in locating possible "ore shoots" and gaining a structural understanding of its vertical and horizontal orientations/extensions for targeted follow-up drilling.

The drill core was split with half core samples securely packaged and delivered to ALS Canada Ltd. in Vancouver, BC. The core samples were analyzed for gold by Fire Assay-Atomic Absorption and for 48 elements (including silver and tellurium) by Four Acid - ICP-MS. Samples exceeding 100 g/t gold were re-analyzed for gold by Fire Assay - Gravimetric Finish. Samples exceeding 100 g/t silver were re-analyzed for silver by Four Acid - ICP-AES. Samples exceeding 1,500 g/t silver by Four Acid - ICP-AES were re-analyzed for silver by Fire Assay - Gravimetric Finish. Quality control (QC) samples were inserted at regular intervals.


(To view the full-size image, please click here)


(To view the full-size image, please click here)

 

 

Gold and silver bearing quartz veins occur in multiple regions on the Gold Drop property with high grade gold reported (samples exceeding 1 oz. / ton gold reported).

Historic gold and silver production occurred at the Gold Drop, North Star, Amandy and Roderick Dhu vein systems.

David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.

To view the Original News release with pictures please go to the website or contact the company.

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]

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