The first diamond drill hole of the season is underway, the hole has now been drilled to a depth of 686 metres (2,250 feet) and will be continued to at least 785 metres (2600 feet). So far, quartz veinlets containing pyrite were intersected and have been sampled for assay.
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Video Transcript:
I’m Megan Edwards for Investmentpitch Media
GGX Gold Corp. has initiated the first diamond drill of its planned 5,000 meter drill program at its Gold Drop property.
The Gold Drop Property is located 3 kilometers north of Greenwood, in the Greenwood mining camp in southern British Columbia, one of the most prolific mining camps in Canada.
The first hole is testing the airborne deep-penetrating ultra-sonic Audio-Magnetotelluric geophysical anomaly that was identified by Earth Science Services Corporation of Oshawa, Ontario.
The large, geophysical anomaly, measuring 1,834 by 1,377 meters, is centered at the intersection of three interpreted major fault conduit structural traces and is located along strike and to the north of the C.O.D. vein trend.
The hole, now been drilled to a depth of 686 meters or 2,250 feet, will continue to at least 785 meters or 2,600 feet.
Quartz veinlets containing pyrite have been intersected and sent for assay.
Once this hole is completed, drilling will advance to other targets identified on the property.
The C.O.D. vein will be tested for depth extension by drilling at least two relatively long holes below mineralized zones that were intersected in previous drilling.
The structure will be also be drilled at its southern end where the alteration zone remains open along strike.
This is the area where some of the world’s best intercepts of the year were obtained as announced by the company in a news release in March 2019.
COD18-67 assayed 129 g/t gold, 1,154 g/t silver & 823 g/t tellurium over 7.28 meters core length.
COD18-70 assayed 107 g/t gold, 880 g/t silver & 640 g/t tellurium over 6.90 meters core length.
After that, one or more holes will be drilled to test the new veins exposed west of the C.O.D. vein by trenching last month.
Drilling is also planned the Gold Drop mine area, where previous trenches exposed visible gold in quartz veins near the former Gold Drop and North Star mines.
Surface trenching is also underway, concurrent with the drill program, to extend several known veins.
Two new veins were exposed west of the C.O.D. vein, one of which contains visible gold.
The excavator then moved to the Rhoderick Dhu area where trenching is being done on quartz veins originally exposed in historic shafts.
The shares are trading at $0.225.
For more information, please visit the company’s website at www.GGXgold.com, contact Barry Brown, CEO, at 604-488-3900 or email office@GGXgold.com.
I’m Megan Edwards for Investmentpitch Media
