VANCOUVER, BC / ACCESSWIRE / October 20, 2020 / GGX Gold Corp. (TSXV:GGX)(OTCQB:GGXXF)(FRA:3SR2) (the "Company" or "GGX") is pleased to provide an update on its active exploration program at the Gold Drop property in the Greenwood Mining Camp of south-central British Columbia.
The planned drilling program at the Gold Drop property is well underway with 1834.5 meters being completed in 11 holes. The first diamond drill hole was completed at a depth 786.1 metres (2579 feet) to test the airborne geophysical anomaly that was identified by Earth Science Services Corporation of Oshawa, Ontario (ESSCO). Results received so far include samples collected over the first 200 metres of the hole. No significant results were obtained for these samples of selected quartz veins and stringers with associated pyrite.
Drilling on the C.O.D. vein began with 4 holes drilled to test for depth extensions, plus selected sites to in-fill between previous drill intercepts. As of September 30, a total of 1048.4 metres was drilled in 10 holes. The COD structure was intersected at depth where it is developed as a clay altered fault zone. Quartz vein intercepts were obtained in the shallower holes. All assays are currently pending. Further drilling of the COD vein is planned to the south where the alteration zone remains open along strike, and to test the new veins exposed in trenches west of the C.O.D. vein.
For the surface trenching program, the first trench exposed the C.O.D. vein near its southern limit. The exposed structure consisted of a 0.1 metre thick quartz vein containing disseminated pyrite within a 1.0 metre rusty, clay-altered fault zone. Assays received from this material include 10.15, 4.09, 2.99 grams per tonne gold, with the higher sample containing 142 grams per tonne silver. This shows the mineralized C.O.D. vein is present and extends to the bedrock surface beneath the overburden in the area of the high-grade intercepts obtained in 2018 and 2019 (as announced in news releases dated March 18 and October 29, 2019):
- COD18-67: 129 g/t gold, 1,154 g/t silver & 823 g/t tellurium over 7.28 meters core length.
- COD18-70: 107 g/t gold, 880 g/t silver & 640 g/t tellurium over 6.90 meters core length.
- COD19-19: 17.4 g/t gold, 179 g/t silver & 131 g/t tellurium over 4.13 meters core length.
- COD19-23: 33.4 g/t gold, 331 g/t silver & 179 g/t tellurium over 5.50 meters core length.
Assays are pending from the remaining trenches that exposed two new veins (Perky and Lively veins) located west of the C.O.D. vein, and at the Rhoderick Dhu area. The Perky vein contains visible gold.
Mapping and surface rock chip sampling were also done east of Jewel Lake at historic workings of the Gold Drop, North Star, Silent Friend and Ken mines to determine possibilities for trenching and drilling. Drilling is planned for the Ken mine where visible gold was observed where a previous 2017 sample assayed 297 grams per tonne gold and 1,290 grams per tonne silver Sampling was also done at the Highland Valley vein, located south of the Gold Drop mine, where quartz veins are exposed in historic shafts and pits.
Photo of southern C.O.D. vein in trench at Gold Drop property
that assayed up to 10.15 g/t gold and 142 grams per tonne silver.
Photo of geologist at Perky vein trench west of COD vein
(rock saw on top of vein).
This vein contains visible gold.
Photo of Highland Valley prospect showing narrow quartz vein exposed in historic pit.
Map of Gold Drop Property showing areas of interest.
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. Gold was determined by the fire assay method using a 50-gram sample weight and AA finish, with over-limits checked using a 50-gram sample weight and 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