Editor's PickMarket News

GGX Gold provides update on exploration drilling program at Gold Drop property in Greenwood Mining Camp of British Columbia

GGX Gold Corp (CVE:GGX) (OTCQB:GGXXF) (FRA:3SR2) on Wednesday provided an update on its exploration drilling program at the Gold Drop property in the Greenwood Mining Camp of south-central British Columbia. The company said diamond drilling is now complete for the year 2020 at the property. A total of 3,865 metres was drilled in 37 holes.  This includes one hole (AMT20-01) to test a deep geophysical porphyry target at 786 metres (m), 19 holes at 1,894m drilled to test the COD vein structure, and 17 holes at 1,185m drilled to test the Perky vein. READ: GGX Gold arranges non-brokered private placement of up to 2 million flow-through shares for gross proceeds of $320,000 GGX said the Perky vein is a new discovery vein where high-grade assay results were obtained from surface trenching. This vein is located 200m west of COD. Grab and channel sample results ranged up to 54 grams per tonne gold (g/t), 303 g/t silver, and 134 g/t tellurium.  Channel samples assays averaged 22.7g/t gold, 107.6 g/t silver, and 67.0 g/t tellurium over a sampled length of 10.3m. GGX said drilling was done to test the Perky vein at shallow depths beneath the surface trench and two of these holes were extended eastward underneath the projected extension of the COD vein. The drilling to date on the Perky structure was positive in that multiple vein intersections were obtained. Visually-best intercepts were holes PKY20-07 and 08, which contained visible gold and pyrite telluride mineralization in quartz veins. The company noted that all of the assay results for the 2020 program have not yet been received.  Results were received for AMT20-01 and the first seven holes on the COD vein. A total of 80 samples were assayed for hole AMT20-01, which returned locally anomalous gold values ranging up to 0.53 g/t gold for intersections of quartz veinlets carrying pyrite.  The first seven holes on the COD vein were drilled to test its depth extension, for which anomalous gold values ranging up to 0.89 g/t gold were obtained. Assays are pending for all remaining holes. Additional drilling is planned to further explore the Perky and COD veins and to test the Lively and Rhoderick Dhu prospects. On the eastern part of the property, the Ken vein, which contains visible gold, remains to be tested. Three-dimensional modeling of the Gold Drop and North Star mine workings is also underway from which additional drill targets will be generated. Contact the author: patrick@proactiveinvestors.com Follow him on Twitter @PatrickMGraham

Leave a Reply

Your email address will not be published. Required fields are marked *