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GGX Gold advancing Gold Drop exploration at promising new gold zone

Trench samples from the COD North vein collected last year returned results of up to 21.7 grams per ton gold

drill core
A piece of drill core from the COD vein containing coarse pyrite mineralization

GGX Gold Corp (CVE:GGX) (OTCMKTS:GGXXD) is making progress with a successful drilling program at its Gold Drop property in the Greenwood Mining Camp in British Columbia.

The Vancouver-based company announced Thursday that it had completed 32 diamond drill holes on the COD vein and moved the drill rig to the COD North vein, where trench samples collected last year returned results of up to 21.7 grams per ton gold over 0.4 metres.

An initial 10 holes are planned to test the structure near the surface samples, the company said in a note to investors.

READ: GGX Gold Corp to raise up to $1.7 million for exploration at Gold Drop project

At the main COD vein, GGX drilled a total of 1923 metres on the structure. Fourteen of the 32 holes intersected the quartz vein at the target depths and contained varying amounts of pyrite mineralization, with one intercepting visible gold.

Drilling will continue at COD North with plans to test the Everest vein, where a gold-bearing vein was discovered in 2018, and at the Gold Drop mine, where gold in quartz is visible on surface.

GGX said that drill core is still being logged at the company’s Greenwood, British Columbia facility. Half the core samples will be shipped for assay later in June.

The company recently announced it will raise up to C$1.7 million in a non-brokered private placement as it looks to continue exploration at Gold Drop.

Shares of GGX were flat in Toronto at C$0.27 and at US$0.16 on OTC markets.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: GGX Gold Corp.

Price: 0.13 CAD

TSX-V:GGX
Market: TSX-V
Market Cap: $2.35 m
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GGX Gold going Star Wars to model their flagship property Gold Drop

GGX Gold Corp (CVE:GGX-OTCQB: GGXXF) President George Sookochoff joined Steve Darling in the Vancouver studio of Proactive Investors to discuss the company drilling a high-priority geophysical target at its Gold Drop property in the Greenwood mining camp. Sookochoff talked about the...

on 4/7/19

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