VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 15, 2018) - GT Gold Corp. ("GT Gold" or the
"Company") (TSX VENTURE:GTT) is pleased to report the final results from the summer 2017 drill program on its Saddle
South gold-silver discovery, located on the Company's 100%-owned Tatogga property in northwestern British Columbia,
Canada. Results for 6 core holes are reported in this news release, highlighted by hole TTD058, which
achieved a very high-grade silver intercept accompanied by high-grade gold.
TTD058 was one of four holes (TTD054, 056, 058, 060) drilled north at varying dips from the
same pad, which targeted below visible gossan on the west slope of Saddle South ridge. All four holes achieved multiple
high-grade intercepts as detailed in Table 1 below. The holes were designed, in part, to scissor mineralization within
volumes previously tested by south-drilling holes TTD029, 031, 033 and 034, and down-dip potential below these earlier
intercepts, which included 48.85 g/t Au over 3.36 metres from 109.25 metres in TTD031 (news, Oct. 16), and 7.22 g/t Au and 76.03
g/t Ag over 4.75 metres from 131.25 metres in TTD033 (news, Nov. 8).
Highlights include:
Hole TTD056: 23.78 g/t Au and 65.87 g/t Ag over 4.02 metres from
150.23 metres (true widths unknown)
- Including 50.50 g/t Au and 91.50 g/t Ag over 0.95 metres from 153.30 metres
Hole TTD058: 31.79 g/t Au and 1,141.10 g/t Ag over 3.01 metres from 41.17 metres (true
widths unknown)
- Including 117.00 g/t Au and 1,835.00 g/t Ag over 0.70 metres from 41.17 metres
"We are really pleased with the results of our initial drill program on the Saddle discovery," said Kevin Keough,
President and CEO. "We've delivered two entirely new discoveries which confirm the Saddle system is rich and extensive: high
grade epithermal gold-silver at both Saddle South and North, and porphyry-style copper-gold-silver at Saddle North, east
end. Both discoveries warrant aggressive follow-up, and we are formulating plans for what promises to be a successful 2018
exploration program."
Table 1 - Saddle South Diamond Drill Program Assay Results: Significant intercepts for 6 diamond
drill holes are reported below. Refer to drilling plan view on page 6 for location of holes, and pages 7 and 8 for drill
sections.
Hole Number |
From
(m) |
To
(m) |
Interval
(m) |
Uncut Grade
g/t Au |
Uncut Grade
g/t Ag |
Comments |
Zone |
|
|
|
|
|
|
|
|
TTD053 |
185.20 |
189.57 |
4.37 |
1.81 |
- |
SW mag test |
Saddle South |
And |
209.00 |
233.28 |
24.28 |
1.11 |
- |
|
|
And |
243.77 |
247.65 |
3.88 |
4.10 |
- |
|
Including |
246.95 |
247.65 |
0.70 |
15.35 |
25.80 |
|
|
And |
252.17 |
264.00 |
11.83 |
1.92 |
- |
|
|
And |
270.81 |
271.58 |
0.77 |
87.20 |
16.60 |
Visible gold |
|
And |
295.73 |
300.92 |
5.19 |
1.10 |
- |
|
|
|
|
|
|
|
|
|
|
TTD054 |
58.45 |
59.60 |
1.15 |
8.47 |
- |
Gossan undercut |
Saddle South |
And |
61.29 |
66.00 |
4.71 |
2.88 |
- |
|
|
And |
82.90 |
85.00 |
2.10 |
3.92 |
- |
|
|
Including |
84.28 |
85.00 |
0.72 |
6.60 |
- |
|
|
And |
93.84 |
102.62 |
8.78 |
4.15 |
- |
|
|
Including |
93.84 |
95.58 |
1.74 |
8.59 |
- |
|
|
And |
100.33 |
101.30 |
0.97 |
10.31 |
- |
|
|
And |
113.50 |
118.00 |
4.50 |
4.91 |
17.12 |
|
|
Including |
115.60 |
116.35 |
0.75 |
11.60 |
38.30 |
|
|
And |
135.68 |
136.93 |
1.25 |
20.12 |
- |
|
|
And |
136.93 |
144.00 |
4.00 |
1.41 |
- |
|
|
And |
146.00 |
149.00 |
3.00 |
4.23 |
- |
|
|
Including |
147.00 |
148.00 |
1.00 |
9.39 |
- |
|
|
|
|
|
|
|
|
|
|
TTD055 |
|
|
|
|
- |
Undercut to 053 |
Saddle South |
And |
96.54 |
97.58 |
1.04 |
4.79 |
256.81 |
|
|
Including |
96.54 |
96.97 |
0.43 |
5.20 |
536.00 |
|
And |
175.77 |
178.54 |
2.77 |
3.49 |
- |
|
|
And |
182.51 |
183.77 |
1.26 |
9.75 |
- |
|
|
Including |
182.51 |
183.23 |
0.72 |
16.05 |
- |
|
|
And |
314.06 |
315.69 |
1.63 |
4.23 |
- |
|
|
|
|
|
|
|
|
|
|
TTD056 |
14.73 |
18.50 |
3.77 |
1.30 |
17.29 |
Undercut to 054 |
Saddle South |
And |
19.00 |
20.22 |
1.22 |
27.00 |
64.40 |
|
|
And |
150.23 |
154.25 |
4.02 |
23.78 |
65.87 |
|
|
Including |
153.30 |
154.25 |
0.95 |
50.50 |
91.50 |
|
|
|
|
|
|
|
|
|
|
TTD058 |
16.48 |
18.65 |
2.17 |
30.42 |
18.12 |
Undercut to 056 |
Saddle South |
Including |
17.43 |
18.65 |
1.22 |
49.20 |
28.50 |
|
|
And |
28.21 |
33.21 |
5.00 |
1.25 |
26.82 |
|
|
And |
41.17 |
44.18 |
3.01 |
31.79 |
1,141.10 |
|
|
Including |
41.17 |
42.75 |
1.58 |
55.23 |
968.37 |
|
|
Including |
41.17 |
41.87 |
0.70 |
117.00 |
1,835.00 |
|
|
And |
47.81 |
50.84 |
3.03 |
5.81 |
187.19 |
|
|
Including |
50.22 |
50.84 |
1.11 |
10.25 |
416.65 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TTD060 |
29.16 |
32.57 |
3.41 |
5.85 |
215.10 |
Undercut to 058 |
Saddle South |
Including |
31.96 |
32.57 |
0.61 |
21.20 |
900.00 |
|
|
And |
33.23 |
36.21 |
2.98 |
1.70 |
154.23 |
|
|
Including |
33.58 |
34.44 |
0.86 |
1.99 |
486.00 |
|
|
And |
46.24 |
47.00 |
0.76 |
6.91 |
- |
|
|
Including |
76.00 |
76.98 |
0.98 |
6.62 |
- |
|
|
Note: Widths reported above are drilled core lengths. True widths are estimated to be approximately 90% of drilled lengths
for hole TTD053, 80% for hole TTD055, 55% for hole TTD054, and 50% for hole TTD056. True widths for holes TTD058 and TTD060
are unknown.
Table 2 - Saddle South Diamond Drill Hole Details: Key information for the above 6 diamond drill
holes is reported below. Refer to drilling plan view on page 6 for location of holes, and pages 7 and 8 for
drill sections.
Hole Number |
Azimuth
(degrees) |
Dip
(degrees) |
Elevation
(m) |
Length
(m) |
UTM E |
UTM N |
Section |
TTD053 |
220 |
-45 |
1691 |
342.00 |
433692 |
6408355 |
510 |
TTD054 |
0 |
-45 |
1639 |
243.00 |
433682 |
6408158 |
690 |
TTD055 |
220 |
-65 |
1639 |
339.00 |
433692 |
6408355 |
510 |
TTD056 |
0 |
-65 |
1639 |
282.00 |
433682 |
6408158 |
690 |
TTD058 |
0 |
-80 |
1639 |
207.00 |
433682 |
6408158 |
690 |
TTD060 |
0 |
-90 |
1639 |
90.00 |
433682 |
6408158 |
690 |
Maps of drill hole locations and drill sections are included below. The same images, along with photos of core, camp and drill
sites, can be obtained from the "Downloads" portion of the Company's homepage (scroll down, left) at: http://www.gtgoldcorp.ca/
Comments on Individual Drillholes:
Hole TTD053 and its undercut TTD054, in contrast to the majority of drilling at Saddle South, were drilled
southwest on azimuths of 220 degrees, roughly perpendicular to the regional fabric, testing for structures possibly missed by the
predominant 180-degree azimuth of most southward-oriented drill holes at Saddle South, and providing an initial test of a low
evident in the magnetic data. TTD053 intercepted a succession comprised mainly of volcanic tuffs interbedded with volcanic
flows, flow breccias, ashfalls, pebble conglomerate and occasional sandstone, cut by post-mineral dykes, from casing to end of
hole at 342 metres. Three significant, near true-width intercepts were achieved in this hole: From 209.00 to 233.28 metres
the hole cut a strong fault zone in tuff, comprised of cataclastic material, broken rock fragments and mineralized veins, which
returned 1.11 g/t Au over 24.28 metres. A second interval comprising quartz-carbonate-chlorite-pyrite veining over 27.81
metres from 243.77 to 271.58 metres, returned a mix of values ranging from very low (0.1 to 1.0 g/t Au) to low (1-3 g/t Au) to
strong (5-10 g/t Au) with highs to 15.35 g/t Au and 25.80 g/t Ag over 0.7 metres from 246.95 metres, and 87.2 g/t Au over 0.77
metres from 270.81 metres, with nuggety visible gold in the latter. A third, narrower interval in tuff commencing at 295.73
and ending at 300.92 metres returned 1.11 g/t Au, also from quartz-carbonate-chlorite-pyrite veins.
Hole TTD054, drilled due north at minus 45 degrees, was one of four holes (TTD054, 056, 058,
060) drilled north at varying dips from the same pad, which targeted below gossan on the west slope of Saddle South
ridge, and down-dip potential below earlier south-drilled intercepts in TTD029, 031, 033 and 034. Following 9 metres of
casing in blocky overburden, the hole cut a succession of volcanics (mainly tuffs with occasional flows) and dykes to
approximately 167 metres, and porphyrytic monzonite and dykes thereafter to end of hole at 240 metres. Gold values were
returned throughout the tuff component of the upper succession, with particular strength in the intervals from 61.29 to 65.00
metres, 82.9 to 123.00 metres and 135.68 to 136.93 metres, associated with quartz-carbonate-sulphide veining (pyrite,
chalcopyrite, sphalerite, galena). The monzonite porphyry did not carry noteworthy values. Of the 47 samples in the
40.1-metre wide zone from 82.90 to 123.00 metres, all but five returned assays greater than 0.1 g/t Au, 26 of 47 samples returned
assays greater than 1 g/t Au, and 8 samples returned greater than 5 g/t Au, with highs to 10.05 g/t Au over 0.88 metres from
93.84 metres, 11.85 g/t Au over 0.44 metres from 100.86 metres, and 11.60 g/t Au over 0.75 g/t Au from 115.60 metres.
Hole TTD055, a minus 65-degree undercut to TTD053 drilled to the southwest at 220 degrees, roughly
perpendicular to the regional fabric, intercepted a succession of interbedded volcanic flows, flow breccias, tuffs, ashfalls and
occasional sandstone, the entire assemblage cut by numerous post-mineral dykes (32 in all), from casing to end of hole at 339
metres. Of note, strong values of gold and silver (5.2 g/t Au and 536 g/t Ag), with associated Cu, Zn, Pb, and As, were
returned from a narrow 0.43 metre interval from 96.54 metres, followed further downhole by 3.49 g/t Au over 2.77 metres from
175.77 metres, 16.05 g/t Au over 0.72 g/t Au from 182.51 metres, and 4.23 g/t Au over 1.63 metres from 314.06
metres. Sulphides in the 0.43 metre interval from 96.54 metres consisted of semi-massive pyrite with intergrown chalcopyrite
and interstitial sphalerite + sulphosalts in a zoned quartz-carbonate-sulphide vein.
Hole TTD056, drilled at minus 65 degrees beneath TTD054, cut a narrow interval of pebble conglomerate near
the top of the hole, but otherwise a succession similar to that seen in hole TTD054, i.e. volcanics and dykes from 9 to 206
metres downhole and, thereafter, monzonite intrusive with cross-cutting felsic, intermediate and mafic dykes to end of hole at
285 metres. Gold-bearing mineralization was again focused in quartz-carbonate-sulphide veins hosted in the volcanic tuffs,
with a very strong intersect over 4.02 metres commencing at 150.23 metres downhole, which returned 23.78 g/t Au and 65.87 g/t Ag,
with associated high copper, lead, zinc, arsenic and bismuth pathfinders. Included in this interval was 0.95 metres from 153.30
metres which returned 50.50 g/t Au and 91.50 g/t Ag. Mineralization consisted of 75% quartz-carbonate-sulphide with massive
pockets of sphalerite and chalcopyrite mixed with massive pyrite in patches, and seams of galena. Elsewhere in the hole,
high grades were achieved over 1.22 metres from 19.00 metres with assays returning 27.00 g/t Au and 64.4 g/t Ag.
Hole TTD058, a minus 80 degree undercut to TTD056, intersected a succession over much of its first 100 metres
comprised predominantly of pebble conglomerate interbedded with sandstone and occasional narrow tuff and flow units, and numerous
cross-cutting dykes, thereafter entering to about 184 metres a succession of tuffs, flows and dykes similar to that seen in
overcuts TTD054 and 056, then re-entering interbedded conglomerate and sandstone with narrow flows and cross-cutting dykes to end
of hole at 207 metres. With the exception of the post-mineral dykes, the hole was for the most part mineralized
throughout. However, the standout intersections were achieved over the 2.17 metres from 16.48 metres, which returned 30.42
g/t Au, and the 3.02 metres from 41.17 metres, which returned 31.79 g/t Au and 1,141.10 g/t Ag, including 117.00 g/t Au and
1,835.00 g/t Ag over 0.70 metres from 41.17 metres. These latter samples were taken from a massive polymetallic vein breccia with
high chalcopyrite and common sulphosalts (tetrahedrite). Not far below this, from 47.81 metres, a 3.03 metre interval ran
5.81 g/t Au and 187.19 g/t Ag, including 1.11 metres of 10.25 g/t Au and 416.65 g/t Ag from 49.73 metres. In all, of the 51
samples taken in the 26.01 metre interval from 28.21 metres to 54.22 metres, all but 5 exceeding 0.1 g/t Au, 15 of 51 exceeded 1
g/t Au, and 5 of 51 exceeded 5 g/t Au.
Hole TTD060, a short, near-vertical hole drilled to a total depth of 90 metres below TTD058, cut for the most
part pebble conglomerate interbedded with occasional sandstone, volcanic flows and tuff, and post-mineral dykes. With the
exception of the 23-metre interval between 47 and 70 metres, comprised mainly of non-mineralized pebble conglomerate, the hole
was mineralized with gold and/or silver and/or copper, throughout. Of note, the 3.41 metre interval from 29.16 to 32.57
metres averaged 5.85 g/t Au and 215.10 g/t Ag, including highs to 21.20 g/t Au and 900.00 g/t Ag over the 0.61 metre interval
from 31.96 to 32.57 metres. Similar to hole TTD058, this intersect occurred within sheared and brecciated
quartz-carbonate-sulphide veining (15% pyrite, 25% chalcopyrite, 5% tetrahedrite, 10% sphalerite), with massive chalcopyrite
largely replacing carbonate and fine-grained tetrahedrite in-filling between quartz crystals.
About Saddle South
The Saddle South discovery is located in B.C.'s Golden Triangle, within 10 kilometres of paved highway 37 and a similar
distance from grid power. Mineralization is of transitional low sulphidation epithermal type, with higher-grade sections
characterized by semi-massive to massive quartz-carbonate sulphide veins and vein breccias dominated by pyrite with subordinated
sphalerite, galena, chalcopyrite and local sulphosalts. The mineralized zones follow a steeply dipping, east-west trending
structure with intersecting northwest-southeast structural elements. Host rocks consist of fragmental volcanic and volcaniclastic
rocks of the Lower Jurassic Hazelton Group.
QA/QC Procedures
GT Gold has implemented a rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling
and analysis of RC chips and diamond drill core, the details of which can be viewed on the Company's website at http://www.gtgoldcorp.ca/projects/tatogga/.
All assays are performed by ALS Canada Ltd., with sample preparation carried out at the ALS facility in Terrace, BC, and
assays at the North Vancouver laboratory. Assay values are uncut. Assay results presented below are fire assay results
only. For gold, fire assays are performed as per ALS protocol Au-AA26 (0.01-100.00 g/t Au) using 50 grams of sample with
assays equal to or greater than 5 g/t Au calculated gravimetrically, and lower-grade samples measured by (AA) atomic
absorption.
Charles J. Greig, M.Sc., P.Geo., Vice President, Exploration for GT Gold and the Company's Qualified Person as defined by NI
43-101, has reviewed and approved the technical information in this news release.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward Looking Statements
This news release contains forward-looking statements and forward-looking information (together, "forward-looking
statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts,
are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as
"plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain
actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward-looking
statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the
Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities
to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the
assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently
available to management as of the date hereof, actual results and developments may differ materially from those contemplated by
these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of
the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all.
Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any
forward-looking statement, whether as a result of new information, future events or otherwise.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/Figure1_GTGold.pdf
To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/Figure2_GTGold.pdf
To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/Figure3_GTGold.pdf