INTERSECTS 129 G/T GOLD AND 1,154 G/T SILVER OVER 7.28 METERS 

 

Gold drill core

 

GGX Gold Corp. (GGX.V) has received drill core analytical results for drill holes COD18-65 to COD18-67 completed during the November, 2018, diamond drilling program at its Gold Drop property near Greenwood in Southern British Columbia. COD18-67 intersected near-surface high-grade gold and silver with significant tellurium in the COD quartz vein. COD18-67 tested the southwest region of the COD vein in an area of prior high-grade gold drill intercepts. The mineralized COD vein system has been traced by drilling and/or trenching for an approximately 400-metre strike length and is open to the northeast, at depth and possibly to the southwest. Highlights for COD18-67 include:

  • 129 grams per tonne gold and 1,154 g/t silver over 7.28-metre core length (majority of samples greater than the upper 50-gram-per-tonne analytical limit for tellurium);
  • High-grade quartz vein intersection is near surface (18- to 23-metre vertical depth);
  • Part of exploratory shallow drilling designed to define high-grade mineralization and expand the understanding of controls on mineralization;
  • Telluride mineralization is common in vein intersection; visible gold in one section.

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 in 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 (news releases of Aug. 15 and Aug. 22, 2018). These include (core length):

  • COD18-45: 50.1 g/t gold and 375 g/t silver over 2.05 metres (including 167.5 g/t gold, 1,370 g/t silver and greater than 500 g/t tellurium over 0.46 metre);
  • COD18-46: 54.9 g/t gold and 379 g/t silver over 1.47 metres (including 223 g/t gold, 1,535 g/t silver and greater than 500 g/t tellurium over 0.30 metre);
  • Approximate 20-metre (COD18-45) to 23-metre (COD18-46) vertical depth of high-grade gold and silver mineralization.

Drill holes COD18-45 and COD18-46 were drilled at 45- and 50-degree dips to the west from the same site to intersect the northeast-southwest-striking COD vein.

Intersections exceeding one g/t gold for drill holes COD18-65 to COD18-67 are listed in the attached table. Since true widths cannot be accurately determined from the information available, the core lengths (metres) are reported.

                                     DRILL RESULTS

Hole ID            From (m)     To (m)     Length (m)      Au (g/t)     Ag (g/t)     Te (g/t)

COD18-66             16.35      16.75           0.40          1.02         6.22         3.46
COD18-66             22.96      23.90           0.94          6.97         46.8         34.4
COD18-67             23.19      30.47           7.28         129.1      1,154.9
COD18-67 incl.       23.58      23.95           0.37           106        1,250         >500
COD18-67 incl.       24.50      27.63           3.13         232.1      2,001.1         >500
COD18-67 incl.       29.70      30.47           0.77           143      1,372.9         >500

Samples of felsic intrusive wall rock adjacent to the high-grade vein in COD18-67 returned low-grade gold values of 0.77 g/t (22.00 to 23.19 metres) and 0.57 g/t (30.47 to 32.72 metres).

All of the November, 2018, drill holes were collared within 25 metres of 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. 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.

Analytical results for drill holes COD18-61 to COD18-64 were reported in a news release in January, 2018, the highlight being an intersection of 28.0 g/t gold, 424.7 g/t silver and 150.4 g/t tellurium over a 1.17-metre core length in COD18-63.

The drill core was split with half core samples securely packaged and delivered to ALS Canada Ltd. in Vancouver, B.C. 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 reanalyzed for gold by fire assay -- gravimetric finish. Samples exceeding 100 g/t silver were reanalyzed for silver by four-acid-ICP-AES. Samples exceeding 1,500 g/t silver by four-acid-ICP-AES were reanalyzed for silver by fire assay-gravimetric finish. Quality control (QC) samples were inserted at regular intervals.

Gold- and silver-bearing quartz veins occur in multiple regions on the property with high-grade gold reported (samples exceeding one ounce per ton gold reported).

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

David Martin, PGeo, a qualified person as defined by National Instrument 43-101, is responsible for the technical information contained in this news release.

"With each additional drill program, we are significantly improving the gold grade mineralization of the COD vein. We continue to expand the known strike length of the mineralized vein system, which remains open in several directions. With another new near-surface high-grade gold zone and increasing strike length, we are very satisfied with the results generated and optimistic on the gold potential of the Gold Drop project," commented Barry Brown, president.