Gold Drop Property Multiple Gold Bearing Rock Samples including 19.6 g/t Gold at Historic C.O.D Shaft And 14.1 g/t Gold at New Vein Showing Greenwood BC ______________________________________________________________________________________
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TSX-V: GGX
Gold Drop Property Multiple Gold Bearing Rock Samples including
19.6 g/t Gold at Historic C.O.D Shaft And
14.1 g/t Gold at New Vein Showing
Greenwood BC
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Vancouver, British Columbia – June 8, 2017 – GGX Gold Corp. (TSXV: GGX) (the “Company” or
“GGX”) is pleased to announce analytical results for initial rock samples collected during May 2017 at its
high-grade Gold Drop property, located near Greenwood in southern British Columbia. Seven grab quartz
vein samples collected at the Gold Drop Southwest Zone returned in excess of 1 gram per tonne gold (g/t
Au). Two of these samples exceeded 10 g/t Au including a sample adjacent to the historic C.O.D. shaft
(19.65 g/t Au) and a bedrock vein sample along a new access road which returned 14.1 g/t Au. This new
vein showing is approximately 680 metres northeast of the C.O.D. shaft. The property covers geologically
prospective ground in the well-mineralized Greenwood Mining Division. The property hosts numerous low-
sulfide, gold and silver bearing quartz veins or vein systems , four of which were previously mined . One
focus of the current work is to locate and sample reported veins and document historic workings. Such work
was conducted in the Gold Drop Southwest Zone during May 2017.
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During May 2017 the Company collected multiple rock samples at the Gold Drop Southwest Zone. Gold
and silver bearing veins are reported in th is area including the C.O.D. and Tel 2 gold – silver vein
occurrences (B.C. MINFILE Occurrence No. 082ESE285 and082ESE287). The Company located the C.O.D.
vein and historic C.O.D. shaft and other historic trenches and pits in this area during May. Rock samples
were collected during the program at the C.O.D. vein at and close to the C.O.D. shaft; and from quartz veins
northeast and northwest of the C.O.D. shaft. The samples were submitted to ALS Minerals in North
Vancouver for gold analysis (Fire Assay and AAS) . Select samples were also analyzed for 33 additional
elements (Four Acid and ICP -AES). The Company has received analytical results for the first 20 samples
collected. Seven of these rock samples exceeded 1 g/t Au (all being grab rock samples) , listed in the
following table:
Sample No. Au (g/t) Comments
V108001 19.95
Sample from southwest striking C.O.D. quartz vein (approximately 1 metre wide)
at historic C.O.D. shaft.
V108002 1.20 Sample from C.O.D vein 15 metres southwest of V108001.
V108003 2.93
Sample from pyrite bearing, southwest striking quartz vein (approximately 1
metre wide) at historic shaft approximately 750 metres northeast of sample
V18001.
V108005 14.10
Sample from pyrite bearing, newly exposed quartz vein (approximately 0.5
metres wide) along new road. Approximately 80 metres southwest of sample
V108003 and approximately 680 metres northeast of V108001 (C.O.D. shaft).
V108007 2.03
Sample of quartz vein from small pit approximately 40 metres northeast of
sample V108003.
V108008 2.11
Sample of quartz vein from small pit approximately 170 metres northeast of
sample V108003.
V108011 2.02
Sample of quartz vein (approximately 0.5-0.75 metres wide) from small pit
approximately 420 northwest of sample V108001.
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This historic C.O.D. shaft is reported to be approximately 21 metres deep, and reported to have been sunk
around 1900 on a gold bearing quartz vein (C.O.D. occurrence) . The shaft was reported to have b een de-
watered in 1983 with the vein in the shaft being sampled. Historic 1980s trenches reportedly traced the
vein to the southwest to the Tel 2 occurrence. The quartz vein in the shaft (C.O.D occurrence) is reported
to be 1.22 metres wide, striking northeast – southwest. A 1988 diamond drill hole reported adjacent to the
shaft was reported to intersect 7.4 g/t Au and 86.8 g/t Ag over 0.75 metres (true width of mineralization
not reported). Chip samples during 1983 from the vein were reported to average 10.3 g/t Au and 102.6 g/t
Ag over a length of 1.2 metres. A 1988 quartz vein grab sample from a trench southwest of the C.O.D. shaft
was reported to return 20.8 g/t Au and 115.6 g/t Ag (Tel 2 gold and silver occurrence). This 1988 sample
was reported as banded chalcedonic quartz.
Excavator trenching is underway now to further expose and trace the gold being veins sampled in May.
Trenching in the area of sample V108005 is a high priority to Company management. This newly exposed
quartz vein is on the approximate northeast trend of the C.O.D. vein. Samples V108003, V108007 and
V108008 were also collected in this general area and further northeast of V108005. Trenching will test the
area between the C.O.D shaft and this area of gold bearing veins.
Historic shaft in southwest region of Gold Drop Property
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Readers are warned that historical records referred to in this News Release have been examined but not
verified by a qualified person. Further work is required to verify that historical assays referred to in this
News Release are accurate.
David Martin, P.Geo., a Qualified Person as defined by NI 43 -101, is responsible fo r the technical
information contained in this News Release.
On Behalf of the Board of Directors,
Barry Brown, Director
604-488-3900
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 of amounts
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not yet determinable and assumptions 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 “expects” or “does not expect”, “is
expected”, “anticipates” or “does not anticipat e”, “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
variations of such words, and similar expressions are not statements of historical fac t 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 achievements 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 estimates 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 speculative 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 materially from those currently
anticipated in such statements. Factors that could c ause actual results to differ materially from those in
forward looking statements include continued availability of capital and financing and general economic,
market or business conditions, the loss of key directors, employees, advisors or consultants, eq uipment
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 included 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