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GGX Gold set to drill three holes into Gold Drop anomaly after receiving exploration permit

The anomaly, identified from the air by Earth Science Services Corporation, is thought to be a pipe-like structure that measures 1834 by 1377 metres

GGX Gold Corp. - gold nugget
The target zone at the anomaly lies at depths between 500 and 800 metres

GGX Gold Corp (CVE:GGX) (OTCMKTS:GGXXF) is poised to make more progress at its now 100% owned Gold Drop property in British Columbia, with the firm now fully permitted to drill test a large, deep geophysical anomaly.

The anomaly, identified from the air by Earth Science Services Corporation of Oshawa, Ontario, is thought to be a pipe-like structure that measures 1834 by 1377 metres, with a target zone at depths between 500 and 800 metres.

READ: GGX Gold earns 100% interest in flagship Gold Drop project as it makes final payment to Ximen Mining

In a statement on Thursday, GGX said it had recently received a new five-year, area-based exploration permit for Gold Drop that will allow for drilling the anomaly. Three holes are planned at different directions from separate locations.

The new permit also allows exploration trenching and drilling in other areas of the property this year, including an area west of the C.O.D. vein on parallel vein targets, at the Rhoderick Dhu prospect, and at multiple sites at the historic Gold Drop gold mine.

GGX is currently preparing the drill site at the anomaly and will move the rig there once it has completed the last hole at the C.O.D. vein.

As of September 2 this year, a total of 2,284 metres have been drilled in 48 holes on the main C.O.D. vein, and a further 685 metres drilled in 10 holes on the COD North vein. Assays from the first drill holes are pending, GGX noted.

Earlier this week, GGX Gold told investors it had made a final option payment to Ximen Mining Corp (CVE:XIM) and now owned 100% of Gold Drop.

The property lies in one of the most prolific mining camps in Canada - the Greenwood camp -which has generated 1.4 million ounces of gold, 10 million ounces silver and 0.7 billion pounds of copper.

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Price: 0.185 CAD

TSX-V:GGX
Market: TSX-V
Market Cap: $3.34 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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