VANCOUVER, BC / ACCESSWIRE / October 21, 2021 / GGX Gold Corp. (TSXV: GGX, Financial) (OTCQB: GGXXF) (FRA: 3SR2, Financial) (the “Company” or “GGX”) is pleased to provide an update on its exploration work on the Company’s 100% Gold Drop property in the Greenwood mining camp in British Columbia, in Canada.
Photo: Lively Vein drilling in 2021
Diamond drilling began on June 8, 2021 and a total of 25 drill holes were completed for a total of 1,616.8 meters. The program began with drilling the Perky Vein where 12 drill holes (444.9 meters) were completed to test the north lateral extension of the Perky Vein. The drilling rig was then moved to test the Lively vein where a total of 12 holes (1,061.2 meters) were also drilled. A hole (110.7 meters) was drilled to test a northern extension of the COD vein under a mineralized vein in surface outcrop.
Photo of the interception of a quartz vein in hole LVY21-05
The Perky vein has been intersected in several drill holes. The Lively vein was intersected at depth where it consists of strings of quartz. A new vein, mineralized in pyrite, was intersected east of the Lively vein in several holes.
Photo of coarse pyrite mineralization in a quartz vein intercepted in hole LVY21-007.
Drilling initially planned for the Gold Drop vein has been postponed due to the risk of fire during work in the forest during the extreme heat of last summer. The weather has now cooled, expectations are to resume drilling.
Core logging and sampling was completed in July and August and samples were submitted in August for analysis. Results are pending at the moment.
David Martin, P.Geo., A qualified person as defined by National Instrument 43-101 and consultant to the Company, has approved the technical information contained in this press release.
The analyzes disclosed in this release were conducted by ALS Global – Geochemistry Analytical Lab in North Vancouver, BC, Canada. ALS is an independent and fully accredited commercial laboratory. All the samples of mineralized veins were analyzed by the metal sieve method (Code ALS Au-SCR24) with determination of gold by fire assay. For other samples, gold was determined by fire assay method using 50 gram sample weight and AA finish. The exceedances were reanalyzed by fire assay using a gravimetric finish. Other metals were analyzed as part of a 48-element set using four acid digestion and ICP-MS determination.
On behalf of the board of directors
Barry Brown, CEO
or call Greg, 360 Aviation at 604-671-3327
This press release may contain forward-looking statements, including, but not limited to, comments regarding the acquisition of certain mining claims. Forward-looking statements deal with future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and GGXGold assumes no obligation to update such statements except as required by law.
Forward-looking statements are based on expectations, beliefs, assumptions, estimates and forecasts then in effect regarding the business, industry and markets in which the Company operates, including: current price and demand minerals targeted by the Company will be maintained or improved; the Company will be able to obtain the exploration licenses and other necessary permits; general business and economic conditions will not change significantly adversely; financing will be available if and when necessary on reasonable terms; the Company will not experience any material accident; and the Company will be able to identify and acquire additional mining interests on reasonable terms or not at all. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: that the exploration and development of resources is a speculative activity; that environmental laws and regulations can become more onerous; that the Company may not be able to raise additional funds if necessary; fluctuations in exchange rates; fluctuating commodity prices; operational hazards and risks; competetion; potential inability to find and / or realize appropriate acquisition opportunities; and other risks and uncertainties listed in the Company’s public documents. These and other risks could cause actual results and events to vary significantly. Therefore, 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 in developing such forward-looking information, will prove to be correct. The Company assumes no obligation to publicly post revisions to update voluntary forward-looking statements, except as required by applicable securities law.
Neither the 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.
THE SOURCE: GGX Gold Corp.
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