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GGX Gold requests tellurium re-analysis of select 2018 high-grade drill core samples from COD vein in southern British Columbia

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The highlights of the program are COD18-67 that intersected 129 grams per tonne gold and 1,154 grams per tonne silver over a 7.28 meter core length and COD18-70 which intersected 107.5 grams per tonne gold and 880 grams per tonne silver over a 6.90 meter core length.

Additional Information:

Company: GGX Gold
Website: http://www.ggxgold.com
Stock Symbol: TSXV: GGX
Date Published: Mar 7, 2019
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

GGX Gold has instructed ALS Canada to re-analyse the tellurium reported in select drill core samples from its Fall 2018 diamond drill program, as multiple core samples from holes COD18-67 and COD18-70 exceeded the upper 500 grams per tonne analytical limit for tellurium.

The Fall 2018 drill program tested the COD Vein, located in the Gold Drop Southwest Zone of the Gold Drop Property in southern British Columbia.

The program followed up on results from previous 2018 diamond drilling at the southern extension of the COD vein.

The highlights of the program are COD18-67 that intersected 129 grams per tonne gold and 1,154 grams per tonne silver over a 7.28 meter core length and COD18-70 which intersected 107.5 grams per tonne gold and 880 grams per tonne silver over a 6.90 meter core length.

Highlights of the intersections from the 2017 and 2018 diamond drill holes at the COD vein are listed in this table.

Fourteen drill core samples from the high-grade gold and silver intersections of drill holes COD-18-67 and COD-18-70 returned greater than the upper analytical limit of 500 grams per tonne for tellurium during initial analysis.

As a result, the tellurium weighted average grade for these intersections could not be determined.

Tellurium is one of the rarest elements on earth.

Most of the world’s tellurium comes from copper refining, although the United States Geological Survey (USGS) has noted that, due to declining copper grades worldwide, “New copper recovery processes…are being considered for implementation, but these methods do not recover tellurium. As a result, alternative sources for this critical element must be considered.”

According to a 2017 “Critical Mineral Resources” report by the United States Geological Survey, epithermal vein deposits with tellurium may offer a viable alternative for future tellurium needs.

Today cadmium telluride is the most preferred material for thin film solar, which represents the second-most utilized solar cell material in the world behind silicon.

This rapid deployment of thin film technology is forecast to generate steady growth in the demand for tellurium, as thin film manufacturing consumes approximately 40% of the world’s tellurium supply.

This is supported by a report by Global Market Insights which stated: “The market for thin film solar panels is expected to grow from a current value of US$8 billion to over US$30 billion by 2024.”

In addition to thin film solar technology, growth in tellurium demand is expected to come from emerging technologies such as phase-change memory, next-generation batteries and tellurium nanoparticles used in water desalination.

The shares are trading at $0.10.

For more information, please visit the company’s website at www.ggxgold.com, contact Jack Singh, Investor Relations, at 604-720-6598, or by email at ir@ggxgold.com.

I’m Samantha Deutscher for Investmentpitch Media