GGX Gold Drill Intersects 14.6 g/t Gold and 150 g/t Silver including 102 g/t Telluride Over 2.1 Meters at COD Vein Greenwood BC
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GGX: TSX-V
GGXXF: OTCQB
FRA: 3SR2
GGX Gold Drill Intersects
14.6 g/t Gold and 150 g/t Silver including 102 g/t Telluride
Over 2.1 Meters at COD Vein
Greenwood BC
______________________________________________________________________________________
Vancouver, British Columbia – May 23 , 2018 – GGX Gold Corp. (TSXV: GGX), (OTC QB:
GGXXF), (FRA: 3SR2) (the “Company” or “ GGX”) is pleased to announce the receipt of the first
batch of analytical results from this seasons Phase III diamond drilling program on the Gold Drop
Property near Greenwood, BC.
The ongoing diamond drill program is designed to test and further define the COD Vein, a Dentonia/Jewel
style quartz vein, located in the Gold Drop Southwest Zone. Trenching during 2017 has exposed the
northeast – southwest striking COD Vein for over 160 meter strike length.
The analytical results reported in this News Release are for the first three holes of the 2018 drilling
program, which were completed from a pad north of the COD Mineshaft. DDCOD16 -1 was drilled at a 86°
azimuth and a 45° dip. DDCOD16 -2 was completed at a 1 36°azimuth and a 60° dip. DDCOD18 -3 was
drilled at a 60° dip and a 91° azimuth. Th e pad was designed to test the veins from a stepped back
position following up on the results during the 2017 drill program. The drilling targeted the COD vein 10 -
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20 m north of the COD mineshaft. The initial 3 drill holes all intercepted the COD vein at de pth. The
DDCOD18-1 intercepted the vein at an in -hole depth of 31.1m, or true depth of 22 m. DDCOD18 -2
intercepted the vein at an in -hole depth of 41.2 m, or true depth of 35 m. DDCOD18 -3 intercepted the
vein at an in-hole depth of 49 m or 42 m true depth.
The analytical results listed below are from holes DDCOD18-1 to DDCOD18-03, testing the COD Vein.
Since true widths cannot be accurately determined from the information available the core lengths
(meters) are reported. The Gold and Silver analyses are reported in grams per tonne (g/t equals parts per
million). The intervals listed in the table below are from the gold and silver bearing vein and / or adjacent
low grade mineralized host rock.
Hole ID From (m) To (m)
Interval Length
(m) Au (g/t) Ag (g/t) Te (g/t)
COD18-1 31.1 32.3 1.2 5.51 46.3 32.6
including
COD18-1 31.1 31.6 0.5 4.65 49.9 32.1
COD18-1 31.6 32.3 0.7 6.12 43.7 32.9
COD18-2 39.9 41.25 1.35 0.64 7.04 4.67
COD18-2 41.25 42.15 0.9 7.81 70.3 46.9
COD18-2 42.15 42.78 0.63 0.48 4.83 3.22
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COD18-3 46.35 47.02 0.67 0.83 5.45 3.73
COD18-3 49 51.1 2.1 14.62 150.2 102.0
including
COD18-3 49 49.55 0.55 3.14 17.9 3.73
COD18-3 49.55 49.95 0.4 4 36.6 26.30
COD18-3 49.95 51.1 1.15 23.8 253 170.50
The most significant gold mineralization is found in the COD Dentonia /Jewel style quartz vein. The vein is
mineralized with pyrite and trace chalcopyrite and telluride minerals. The hostrock near the vein is often
altered and carries anomalous silver and gold values, such as at 39.9 -41.25 m and 42.15 -42.78 m in
DDCOD18-2 an d 46.35 -47.02 m in DDCOD18 -3. This silicification and chlorite alteration is texture and
magnetite destructive. Strong fine disseminated pyrite is often found in these alteration zones.
Observed core vein contact angles indicate the COD vein is sub -vertical being structurally controlled by
the host rock. The predominant host rock for the COD vein is a massive and competent medium grain
granodiorite of the Antsey Pluton. Faulting does occu r however the general north south trend of the vein
is predictable.
In 2017 the Company had received analytical results for 68 trench channel samples collected at the COD
Vein. These samples returned anomalous to high grade values for gold, including hi gh values of 43.2
grams / tonne (g/t) Gold and 224 g/t Silver (News Release of July 26, 2017). The first batch of 2017 drill
core samples for the COD Vein returned up to 24.1 g/t Gold and 192 g/t Silver (News Release of Aug 28,
2017). The second batch of drill core samples also returned significant gold and silver values including a
broad intersection in hole COD17 -14 grading 4.59 g/t Gold and 38.64 g/t Silver over 16.03 meters core
length with a high grade core grading 10.96 g/t Gold and 89.86 g/t Silver over 5.97 meters core length
(News Release of Sept 7, 2017).
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Drill core is being geologically logged and sampled at the Greenwood facility. Drill core is sawn in half
with half core samples submitted for analys is and remaining half core stored in a secure location. Core
samples were delivered to the ALS Minerals laboratory in Vancouver to be analyzed for gold by Fire Assay
– AA. The samples are also being analyzed for 48 Elements by Four Acid and ICP -AES / ICP -MS. Quality
control (QC) samples are inserted at regular intervals.
David Martin, P.Geo., a Qualified Person as defined by NI 43 -101, is responsible for the technical
information contained in this News Release.
On Behalf of the Board of Directors,
Barry Brown, Director
604-488-3900
Investor Relations:
Mr. Jack Singh: 604-488-3900 E-mail: [email protected]
“ We don’t have to do this, we get to do this ”
The Crew
Forward Looking Information
This news release includes certain statements that constitute “forward -looking information” within the
meaning of applicable securities law, including without limitation, the Company’s information and
statements regarding or inferring the future business, operations, financial performance, prospects, and
other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include
statements regarding the completion of the proposed transactions. Forward -looking statements address
future events and conditions and are necessarily based upon a number of estimates and assumptions. These
statements relate to analyses and other information that are based on forecasts of future results, estimates
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of amounts not yet determinable and assumptio ns of management. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or
future events or performance (often, but not always, using words or phrases such as “exp ects” or “does not
expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating
that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be
achieved), and variati ons of such words, and similar expressions are not statements of historical fact and
may be forward-looking statements. Forward-looking statement are necessarily based upon several factors
that, if untrue, could cause the actual results, performances or ac hievements of the Company to be
materially different from future results, performances or achievements express or implied by such
statements. Such statements and information are based on numerous assumptions regarding present and
future business strategies and the environment in which the Company will operate in the future, including
the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will
be able to obtain required licenses and permits. While such estimat es and assumptions are considered
reasonable by the management of the Company, they are inherently subject to significant business,
economic, competitive and regulatory uncertainties and risks including that resource exploration and
development is a specul ative business; that environmental laws and regulations may become more
onerous; that the Company may not be able to raise additional funds when necessary; fluctuating prices of
metals; the possibility that future exploration, development or mining results will not be consistent with
the Company’s expectations; operating hazards and risks; and competition. There can be no assurance that
economic resources will be discovered or developed at the Gold Drop Property. Accordingly, actual results
may differ mater ially from those currently anticipated in such statements. Factors that could cause actual
results to differ materially from those in forward looking statements include continued availability of
capital and financing and general economic, market or busines s conditions, the loss of key directors,
employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service
providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that
forward-looking statements are not guarantees of future performance or events and, accordingly are
cautioned not to put undue reliance on forward -looking statements due to the inherent uncertainty of such
statements. The forward -looking statements include d in this news release are made as of the date hereof
and the Company disclaims any intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as expressly required by
applicable securities legislation.
Neither 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