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GGX Gold is planning to drill a high priority geophysical target at its Gold Drop Property

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Stargate II surveys were performed by Earth Science Services Corporation of Oshawa, Ontario (ESSCO) over the Republic Graben trend in Washington and British Columbia in 2014 and 2015 at 1 kilometer and 500 meter line spacings.

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Company: GGX Gold
Website: http://www.ggxgold.com
Stock Symbol: TSXV: GGX
Date Published: Jul 4, 2019
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

GGX Gold is planning to drill a high priority geophysical target at its Gold Drop Property.

The Gold Drop Property is located in the Greenwood mining camp in southern British Columbia, one of the most prolific mining camps in Canada.

Stargate II surveys were performed by Earth Science Services Corporation of Oshawa, Ontario over the Republic Graben trend in Washington and British Columbia in 2014 and 2015 at 1 kilometer and 500 meter line spacings.

The proprietary Stargate II Drill Target Modeling System incorporates Acoustic EM analysis, technology that was developed by ESSCO.

It employs an enhanced, deep-penetrating ultra-sonic AMT (Audio-Magnetotellurics) geophysical survey.

As the system is in developmental/pre-commercial stage the effectiveness of this technique is not fully known to GGX.

A resultant geophysical anomaly on the Gold Drop property in the Greenwood Mining Camp was supplied by Glenn Galata of ESSCO.

The 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.

Testing the target will require drilling to a depth of at least 400 and up to 764 meters, the deepest ever to be drilled on the Gold Drop property.

The anomaly is located at the intersection of corridors identified as “conduit-fault-structural traces”.

Two of these are coincident with the trend of the C.O.D. vein system and a probable NW-trending cross-fault.

GGX Gold management stated: “The correlation of anomaly corridors with known geological features provides some confidence in the result. GGX is excited to have the opportunity to engage this new technology with a drill test planned in the coming weeks. If successful, the test at the Gold Drop property could result in the discovery of a new gold deposit or even a new gold deposit type. It could also lead to further investigations utilizing the new geophysical technique in other areas of the Greenwood Mining Camp.”

Since the start of the season in Mid-April, the company has completed the first stage of infill drilling on the C.O.D. main vein, which consisted of 32 holes for a total of 1,923 meters.

Fourteen holes, which intersected the C.O. D. quartz vein at the target depths, contained variable amounts of pyrite mineralization.

Five vein intersects were visibly mineralized with possible gold-telluride mineralization and one other intercept contained visible gold.

The rig has now been moved to explore the C.O.D. North vein, which is a parallel vein located 700 meters northeast of the main vein.

Trench samples collected in 2018 from the C.O.D. vein assayed up to 21.7 grams per tonne gold over 0.4 meters.

An initial stage of 10 holes is planned to test the structure in the area of the surface trenches.

The drill program will continue this season with holes planned to test the Everest vein, a visible gold bearing vein that was discovered in 2018, and the Gold Drop mine, where visible gold in quartz has been identified in surface exposures.

GGX Gold is currently raising up to $1,750,000 from a combination of flow-through and non-flow-through, non-brokered private placements.

The shares are trading at $0.26 following a recent 1 for 3 consolidation.

For more information, please visit the company’s website at www.ggxgold.com, contact George Sookochoff, President, at 604-488-3900 or email george@GGXgold.com.

For Investor Relations contact Jack Singh at 604-720-6598 or email at ir@ggxgold.com.

I’m Cassandra Bolinski for Investmentpitch Media