VANCOUVER, BC / ACCESSWIRE / April 7, 2021 / GGX Gold Corp. (TSXV:GGX)(OTCQB:GGXXF)(FRA:3SR2) (the "Company" or "GGX") is pleased to announce gold assay results for the remaining drill holes from its 2020 exploration program at the Gold Drop property in the Greenwood Mining Camp of south-central British Columbia.
Gold assay results were recently received for the remaining drill holes completed on the COD vein
(COD20-17 to 19) and for all drill holes completed on the Perky vein (PKY20-01 to 17).
Weighted average gold grades were calculated based on interval length for the following holes:
PKY20-07: 1.34 meters (0.96-2.30 m) grading 57.86 g/t gold
PKY20-08: 2.17 meters (0.70-2.87 m) grading 82.72 g/t gold
PKY20-09: 1.03 meters (10.44-11.47 m) grading 5.17 g/t gold
PKY20-13: 1.60 meters (4.59-6.19 m) grading 10.83 g/t gold
PKY20-15: 0.91 meters (8.75-9.66 m) grading 3.09 g/t gold
Photos of core from PKY20-08 showing rusty quartz vein with holes where sulphide minerals have been eroded.
Significant results were obtained for holes drilled to test the Perky vein, a parallel vein located 200 meters west of the COD vein. The following lists Perky vein drill intercepts over 1.0 grams per tonne gold.
Hole | From (m) | To (m) | Interval Length (m) | Gold (g/t) | Description |
PKY20-01 | 60.48 | 60.93 | 0.45 | 1.66 | Quartz veinlet, pyrite in granodiorite |
PKY20-04 | 27.91 | 28.41 | 0.50 | 4.72 | Quartz veinlet, pyrite in granodiorite |
PKY20-07 | 0.96 | 1.85 | 0.89 | 26.7 | Quartz vein, visible gold |
PKY20-07 | 1.85 | 2.30 | 0.45 | 119.5 | Quartz vein, pyrite |
PKY20-08 | 0.70 | 1.31 | 0.61 | 2.07 | Quartz vein, rusty |
PKY20-08 | 1.31 | 1.73 | 0.42 | 9.63 | Quartz vein, rusty |
PKY20-08 | 1.73 | 2.26 | 0.53 | 235 | Quartz vein, visible gold |
PKY20-08 | 2.26 | 2.87 | 0.61 | 81.4 | Quartz vein, visible gold, telluride, pyrite |
PKY20-09 | 10.44 | 10.97 | 0.53 | 7.47 | Quartz vein, pyrite |
PKY20-09 | 10.97 | 11.47 | 0.50 | 2.73 | Quartz vein, rusty, pyrite |
PKY20-12 | 9.20 | 10.06 | 0.86 | 26.9 | Quartz vein |
PKY20-13 | 3.38 | 4.12 | 0.74 | 2.46 | Quartz vein, pyrite |
PKY20-13 | 4.59 | 5.09 | 0.50 | 3.72 | Quartz vein, pyrite |
PKY20-13 | 5.09 | 5.62 | 0.53 | 7.26 | Quartz vein, pyrite |
PKY20-13 | 5.62 | 6.19 | 0.57 | 20.4 | Quartz vein, pyrite |
PKY20-14 | 36.76 | 37.32 | 0.56 | 1.40 | Qtz stringers, pyrite |
PKY20-15 | 2.66 | 3.26 | 0.60 | 3.54 | Quartz vein |
PKY20-15 | 8.75 | 9.23 | 0.48 | 2.44 | Quartz vein, pyrite |
PKY20-15 | 9.23 | 9.66 | 0.43 | 3.81 | Quartz vein |
The above intercept lengths are drill core lengths and may not represent true widths. True widths cannot be determined at this time due to lack of information on the geometry of the Perky vein.
Additional drilling is being planned to further explore the Perky vein and to test the Lively vein which was also a new discovery in 2020.
Holes COD20-17 to 19 were drilled south of the area of high-grade mineralization previously identified on the COD vein. Hole COD20-18 and 19 were drilled in a scissor pattern across the projected southern extension of the COD vein, approximately 250 meters south of the of the area of high-grade mineralization. No significant results were obtained from these holes.
Results for associated silver, tellurium and other elements of interest have not been received yet.
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. All mineralized vein samples were analyzed by the metallics sieve method (ALS Code Au-SCR24) with gold determination by fire assay. For other samples, gold was determined by the fire assay method using a 50-gram sample weight and AA finish. Over-limits were re-analyzed by fire assay using a gravimetric finish. Other metals were analyzed as part of a 48-element package using a four-acid digestion and determination by ICP-MS.
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, CEO
604-488-3900
Office@GGXgold.com
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.
View source version on accesswire.com:
https://www.accesswire.com/639201/GGX-Gold-Corp-Drills-235-gt-Gold-Over-057-m-and-1195-gt-Gold-Over-045-m-on-Perky-Vein-at-Gold-Drop-Property-Historic-Mining-Camp-Greenwood-BC
