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GGX Gold provides update on active exploration program at Gold Drop property in the Greenwood Mining Camp

The group said the planned drilling program at the property is well underway with 1,834.5 meters (m) being completed in 11 holes

Gold
Drilling on the C.O.D. vein began with 4 holes drilled to test for depth extensions, plus selected sites to in-fill between previous drill intercepts

GGX Gold Corp. (CVE:GGX) (OTCQB:GGXXF) (FRA:3SR2) has provided an update on its active exploration program at the Gold Drop property in the Greenwood Mining Camp of south-central British Columbia.

The group said the planned drilling program at the property is well underway with 1,834.5 meters (m) being completed in 11 holes. The first diamond drill hole was completed at a depth 786.1m (2579 feet) to test the airborne geophysical anomaly that was identified by Earth Science Services Corporation of Oshawa, Ontario (ESSCO).

READ: GGX Gold aiming to complete 5,000m drill program at Gold Drop this year

Results received so far include samples collected over the first 200 metres of the hole. No significant results were obtained for these samples of selected quartz veins and stringers with associated pyrite.

Drilling on the C.O.D. vein began with 4 holes drilled to test for depth extensions, plus selected sites to in-fill between previous drill intercepts. As of September 30, 2020, a total of 1048.4m was drilled in 10 holes.

The COD structure was intersected at depth where it is developed as a clay altered fault zone. Quartz vein intercepts were obtained in the shallower holes. All assays are currently pending, the group said, 

Further drilling of the COD vein is planned to the south where the alteration zone remains open along strike, and to test the new veins exposed in trenches west of the C.O.D. vein.

For the surface trenching program, the first trench exposed the C.O.D. vein near its southern limit. The exposed structure consisted of a 0.1m thick quartz vein containing disseminated pyrite within a 1.0 metre rusty, clay-altered fault zone.

Assays received from this material include 10.15, 4.09, 2.99 grams per tonne (g/t) gold, with the higher sample containing 142 g/t silver. This shows the mineralized C.O.D. vein is present and extends to the bedrock surface beneath the overburden in the area of the high-grade intercepts obtained in 2018 and 2019 as announced in news releases dated March 18 and October 29, 2019.

  • COD18-67: 129 g/t gold, 1,154 g/t silver & 823 g/t tellurium over 7.28 meters core length
  • COD18-70: 107 g/t gold, 880 g/t silver & 640 g/t tellurium over 6.90 meters core length
  • COD19-19: 17.4 g/t gold, 179 g/t silver & 131 g/t tellurium over 4.13 meters core length
  • COD19-23: 33.4 g/t gold, 331 g/t silver & 179 g/t tellurium over 5.50 meters core length

Assays are pending from the remaining trenches that exposed two new veins (Perky and Lively veins) located west of the C.O.D. vein, and at the Rhoderick Dhu area. The Perky vein contains visible gold, the company noted.

Mapping and surface rock chip sampling were also done east of Jewel Lake at historic workings of the Gold Drop, North Star, Silent Friend and Ken mines to determine possibilities for trenching and drilling.

Drilling is planned for the Ken mine where visible gold was observed where a previous 2017 sample assayed 297 grams per tonne gold and 1,290 grams per tonne silver Sampling was also done at the Highland Valley vein, located south of the Gold Drop mine, where quartz veins are exposed in historic shafts and pits.

Contact the author at jon.hopkins@proactiveinvestors.com

Quick facts: GGX Gold Corp.

Price: 0.19 CAD

TSX-V:GGX
Market: TSX-V
Market Cap: $5.22 m
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