VANCOUVER, BC / ACCESSWIRE / October 10, 2019 / GGX Gold Corp. (TSXV:GGX)(OTCQB:GGXXF)(FRA:3SR2) (the "Company" or "GGX") is pleased to announce assay results from the first ten holes drilled this season at its Gold Drop property in the Greenwood Mining Camp.
Significant assay results were obtained in five of the ten holes, as provided in the table below.
| Hole | From | To | Length (m) |
Gold (g/t) |
Silver (g/t) |
Tellurium (ppm) |
Description |
| COD19-01 | 28.36 | 28.74 | 0.38 | 145.00 | 1430.0 | >500 | Quartz vein, pyrite, telluride |
| COD19-01 | 28.74 | 29.18 | 0.44 | 3.98 | 37.6 | 50.8 | Quartz vein, pyrite, telluride |
| COD19-01 | 32.21 | 32.61 | 0.40 | 5.08 | 31.2 | 22.5 | Granodiorite, pyrite |
| COD19-06 | 66.00 | 66.61 | 0.61 | 2.43 | 38.7 | 23.6 | Quartz veinlet |
| COD19-07 | 61.83 | 62.33 | 0.50 | 2.21 | 7.2 | 10.35 | Clay altered granodiorite |
| COD19-07 | 62.33 | 62.78 | 0.45 | 2.11 | 9.6 | 6.7 | Quartz vein, pyrite |
| COD19-08 | 84.38 | 85.00 | 0.62 | 2.85 | 23.5 | 13.2 | Silica-pyrite breccia |
| COD19-10 | 13.90 | 14.20 | 0.30 | 7.43 | 38.7 | 87.1 | Quartz vein, pyrite |
| COD19-10 | 15.00 | 15.54 | 0.54 | 10.60 | 51.1 | 56.7 | Quartz vein, pyrite |
Abbreviations: m=meters, g/t = grams per tonne, ppm = parts per million (equivalent to grams per tonne)
Note 1: The lengths reported in the table above are core interval lengths and not true widths; there is insufficient information to estimate true thickness.
Weighted average grades for the intercepts in holes 1 and 10 are as follows:
| Hole | From | To | Length (m) |
Gold (g/t) |
Silver (g/t) |
Tellurium (ppm) |
Description |
| COD19-01 | 28.36 | 29.18 | 0.82 | 69.33 | 682.9 | 259* | Quartz vein, pyrite, telluride |
| COD19-07 | 61.83 | 62.78 | 0.95 | 2.16 | 8.3 | 8.6 | |
| COD19-10 | 13.90 | 15.54 | 1.64 | 5.11 | 24.9 | 36 | Quartz vein, pyrite |
*Provisional value: one Telluruim analysis in hole 1 exceeded the upper detection limit and will be re-analyzed at a later date.
Overall, the results confirm the presence of potentially economic mineralization in the COD vein at the Gold Drop property. The drilling was done above, below and along strike of the best intercepts from 2018, and the results add to the list of mineralized intercepts obtained last year (refer to news release dated February 27, 2019).
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 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, CEO
604-488-3900
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Investor Relations:
Mr. Jack Singh,
604-488-3900,
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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.
