Fig. 1
2020 Drill Results
2020 Drill Results
Fig. 2
2020 Geologic Structural Model plan view with DDH locations and X-Sections
2020 Geologic Structural Model plan view with DDH locations and X-Sections
Fig. 3
High-Grade Drilling Program X-Section (A-A’)
High-Grade Drilling Program X-Section (A-A’)
Fig. 4
High-Grade Drilling Program X-Section (B-B’)
High-Grade Drilling Program X-Section (B-B’)
Fig. 5
High-Grade Drilling Program X-Section (C-C’)
High-Grade Drilling Program X-Section (C-C’)
Fig. 6
High-Grade Drilling Program X-Section (D-D’)
High-Grade Drilling Program X-Section (D-D’)
Table 1
2020 High-Grade Drill Result Highlights
2020 High-Grade Drill Result Highlights
Fig. 7
2020/2021 Drill Program Locations
2020/2021 Drill Program Locations
GEORGETOWN, Guyana, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Gold X Mining Corp. (TSX-V: GLDX, OTCQX: GLDXF) (“Gold X” or the “Company”) is pleased to announce results from its recently completed Phase 1 10,166-meter (m) diamond drill program. The focus of the drilling was to test the continuity of grade within recently discovered high grade gold bearing structures as well as upgrade and expand the current mineral resource at the Company’s 100% owned Toroparu Gold Project in Western Guyana.
Highlights
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Assay results from the 2020 High-Grade Definition Drill Program returned significant gold concentrations within multiple high-grade sub-vertical structures predictively modelled by Nordmin Engineering Ltd. (a division of Nordmin Group of Companies) and High Power Exploration (“Nordmin/HPX”) using historical drill data1.
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The gold grades range from 3.1 g/t to 31.0 g/t, and have a length weighted average grade of 7.1 g/t (uncut) over 24 intervals highlighted in this release (Table 1). Of particular note, the primary sub-vertical mineralized structures within the Toroparu Main Zone demonstrate continuity both in width and up to 200 m in strike and dip and have not been tested to depth.
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These high-grade structures lie within and below the latest Toroparu Main Resource Pit2 and extend up to 2.5 kilometers (km) along strike into the Toroparu NW Zone (Fig 2). Collectively, structures such as these are often considered favourable to shallow bulk and selective underground mining methods3.
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Upon review and recommendation by Nordmin/HPX, the Company has initiated a Phase 2 diamond drill program. The two drill, 10,000 m program commenced in early February. One core rig is specifically targeting continuity of structurally controlled gold mineralization within the modelled high-grade structures, while a second rig is targeting shallow mineralization and extensions of the high-grade structures defined in Toroparu NW Zone (Fig. 7).
Paul Matysek, CEO notes, “The results from drill-testing the high-grade gold structures have exceeded our expectations. We now have clear geological and structural evidence that the high-grade structures run along the total 2.5 km strike length of the Toroparu Main & NW Zones. It is our belief this drilling has identified significant additional gold mineralization potential outside of the historical open pit boundaries of our Project. We are continuing to expand upon these results with the initiation of our 10,000-meter Phase 2 diamond drill program.”
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f14f7e1c-697f-46b9-abbe-c9add7035b33
2020 Drill Highlights
Toroparu Main Pit
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36.7 m of core length grading an average of 2.92 g/t with multiple structure intersections including 4.7 m grading 3.1 g/t, 9.5 m grading 3.4 g/t, and 4.5 m grading 6 g/t in TPD 526,
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7.3 m of core grading 8.0 g/t, including 5.3 m grading 10.7 g/t, in TPD 530,
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3.5 m of core grading 4.4 g/t, including 2.5 m grading 5.7 g/t; and 3.7 m of core grading 6.3 g/t, including 2.1 m grading 10.9 g/t, in TPD 532, and
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12.0 m of core grading 3.31 g/t, including 4.5 m grading 6.6 g/t, in TPD 533.
Toroparu Open Pit Extension
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13.5 m of core with an average grade of 2.66 g/t, including 3.4 m of core in structure from 84.5 m to 87.9 m depth grading 8.0 g/t, in TPD 501,
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10.1 m of core from 40.6 m to 50.7 m depth grading 1.0 g/t, including 0.7 m of core in structure grading 5.6 g/t, in TPD 502, and,
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10.5 m of core from 96 m to 106.5 m with an average grade of 1.1 g/t, including 0.5 m in structure grading 8.3 g/t, in TPD 508.
Toroparu NW Zone
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13.5 m grading 2.66 g/t, including a structural intercept over 3.4 m of core grading 8.0 g/t in TPD 501,
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8.0 m of core grading 3.6 g/t, including 0.8 m grading 30.1 g/t, in TPD 509, and
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12.5 m of core grading 4.0 g/t and 3.0 m grading 15.63 g/t in TPD 539.
Notably, TPD 539 is the furthest step-out in the program extending the strike length of modelled high-grade gold structures within the Toroparu Trend to more than 2.5 km (Fig 2).
Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3070fb51-859b-481b-b16c-aedaa916e645
High-grade gold-mineralized intercepts within the deposit are associated with the occurrence of native gold, sulfides and quartz carbonate veins or veinlets that crosscut most lithologies except for late-stage mafic dikes. Additionally, the geologic structural model is validated by structural measurements from the 2020 oriented cores that indicate an orientation of NW-SE in the Eastern portion of the Toroparu Main pit, E-W in the Central portion of the Main Pit, and NW-SE in the Toroparu NW Zone.
Figures 3 through 6 present the geological model in cross-section (see Fig. 3 for section locations) with results from the 2020 and historical drill programs highlighting the continuity of gold mineralization within the sub-vertical high-grade structures.
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Section A–A’ includes four 2020 DDH: TPD 525, 530, 523 and 532,
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Section B–B’ includes one 2020 DDH: TPD 526,
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Section C-C’ includes one 2020 DDH: TPD 533, and
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Section D-D’ includes two 2020 DDH: TPD 509 and 528.
Each of these sections illustrate structures with a high-grade structural core (grading > 5 g/t) surrounded by a lower-grade halo (> 1.5 g/t). Collectively, these assay results and historically drilled intercepts confirm the Nordmin/HPX Geological Model.
Figure 3: is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/171ac10b-fc4e-4c41-b27a-9994a093ad3b
Figure 4 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/300b8979-b25c-4879-aa1a-4dc4674edeff
Figure 5 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e2056ad7-02e8-49f9-8c5c-698925c4eaa2
Figure 6 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6b458d41-750c-4f5f-a176-00aa39db8f1b
Phase 1 Drill Program Highlight Table
Assay results from the 2020 diamond drill programs highlighted in this press release include:
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aec5f761-ce32-4696-bc37-d80aa88d1f6e
The 2020 diamond drilling program recovered 10,256 m of drill core from 72 holes (TPD 469 to TPD539) drilled to vertical depths of up to 580 meters. Core samples for the 2020 drill program were collected over 0.5 m to 1.0 m intervals within the mineralized zone and 1.5 m intervals in the barren intervals. The sampling has been driven by sulfides content, quartz carbonate veins density and lithological discrimination of barren mafic dikes. Half core was submitted to MS Analytical Labs in Georgetown, Guyana for analysis. Gold was analyzed by fire assays atomic absorption reading and gravimetric reading over 10 ppm. A standard quality control procedure has been applied including blanks, standards, and duplicates.
The total resource-specific diamond drilling at the Toroparu Project as of December 31, 2020 is 213,722 m over 754 diamond drill holes. To date, the Company has invested more than US$150 million to discover and delineate its gold mineral resources, as well as to complete engineering and environmental studies required to enable the Project to produce gold dor and gold bearing copper concentrates as detailed in the Company’s latest 43-101 technical report (the “2019 Technical Report)4.
2021 Drill Program
The Phase 2 10,000 meter follow up drill program targets both sub-vertical high-grade structures and specific areas of shallow mineralization with additional in-fill and step-out drill holes. Results from this drilling are expected by during Q2 2021 (Fig. 7).
Figure 7 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b2ba9e81-ee2e-4c3f-b76e-2d3394d92671