Vancouver, British Columbia (FSCwire) - GGX Gold Corp. (TSXV: GGX) (the “Company” or “GGX”) is pleased to announce it has begun the 2017 exploration program at its high grade Gold Drop property, located near Greenwood in southern British Columbia. The property covers geologically prospective ground in the well-mineralized Greenwood Mining Division. The property hosts numerous low-sulfide, gold and silver bearing quartz veins or vein systems, four of which were previously mined. The focus of the current work is to locate and sample reported veins and document historic workings. During the first week of work, sulfide bearing quartz veins and historic workings were located in the southwest region of the property. Excavator trenching will begin shortly to allow for detailed mapping and sampling of selected veins. A diamond drilling program will follow, planned to start in June on priority targets. The property was optioned from Ximen Mining Corp. in 2016 and has a total area of approximately 2150 hectares.
The 2017 program will focus on 6 priority areas, covering areas of gold and silver bearing veins (B.C. MINFILE occurrences and other veins reported in historic B.C. assessment reports). These priority areas are the Gold Drop - North Star vein system, Ken vein and Silent Friend veins in the eastern region; Amandy vein and Roderick Dhu vein in the northwest region; and Tel - C.O.D. veins in the southwest region. An area of high grade gold and silver mineralization discovered in 2015 at a trench at the North Star vein is high priority target for the Company. Grab samples from this trench returned 159 g/t Au (grams per tonne) and 744 g/t Ag, 12.2 g/t Au and 78 g/t Ag; and 12.5 g/t Au and 100 g/t Ag.
Most of the reported historic underground workings (reported 100’s of meters) are at the Gold Drop, North Star and Amandy veins. Small-scale intermittent mining was conducted at Gold Drop, North Star, Amandy and Roderick Dhu veins during the period of 1919 - 1941. This included:
- North Star: 6,178 tonnes mined with 3.8 g/t Au and 76.9 g/t Ag recovered.
- Amandy: 1,059 tonnes mined with 10.0 g/t Au and 185.2 g/t Ag recovered.
- Gold Drop: 294 tonnes mined with 16.5 g/t Au and 98.3 g/t Ag recovered.
- Roderick Dhu 25 tonnes mined with 19.9 g/t Au and 275 g/t Ag recovered
The southwest region of the property is the first area of focus during the current program. Gold and silver bearing quartz veins are reported in this region. A 1988 grab sample in this region from a quartz vein in a trench was reported to return 20.8 g/t Au and 115.6 g/t Ag (Tel 2 occurrence). Recent logging activities in this area have exposed bedrock and float boulders in this area. Sulfide bearing quartz veins in bedrock and vein float have been located in this region since the start of the program on May 1. Sampling of such vein material has commenced. Historic trenches and a shaft have been located. The Company is now referring to this target area as the Gold Drop Southwest Zone. An excavator has recently been mobilized to the property and will begin trenching in this zone shortly. Trenching will follow in other target areas. Diamond drilling is scheduled to begin in June on priority targets.
Historic shaft in southwest region of Gold Drop Property
Pyrite bearing quartz float in southwest region of Gold Drop Property
Readers are warned that historical records referred to in this News Release have been examined but not verified by a qualified person. Further work is required to verify that historical assays referred to in this News Release are accurate.
David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.
