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GGX Gold (TSXV:GGX) released the first batch of results from phase III drill program on the Gold Drop Property

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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.

Additional Information:

Company: GGX Gold
Website: http://www.ggxgold.com
Stock Symbol: TSXV: GGX
Date Published: May 29, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

GGX Gold has released the first batch of results from this season’s phase III diamond drill program on the Gold Drop Property.

The Gold Drop Property is located 40 kilometres from Grand Forks, British Columbia in the Greenwood District.

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.

These results are for the first three holes of the 2018 drilling program, which were completed from a pad north of the COD Mineshaft.

The 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 - 20 metres north of the COD mineshaft.

The initial 3 drill holes all intercepted the COD vein at depth.

Hole DDCOD18-1 intercepted the vein at an in-hole depth of 31.1 metres, or true depth of 22 metres, with DDCOD18-2 intercepting the vein at an in-hole depth of 41.2 metres, or true depth of 35 metres, and DDCOD18-3 intercepting the vein at an in-hole depth of 49 metres or 42 metres true depth.

The most significant gold mineralization is found in the COD Dentonia/Jewel style quartz vein, which is mineralized with pyrite and trace chalcopyrite and telluride minerals.

The host rock near the vein is often altered and carries anomalous silver and gold values, such as at 39.9 -41.25 metres and 42.15 - 42.78 metres in DDCOD18-2 and 46.35 - 47.02 metres 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 occur, however the general north south trend of the vein is predictable.

In 2017 the company received results for 68 trench channel samples collected at the COD Vein, which returned anomalous to high grade values for gold, including high values of 43.2 grams per tonne gold and 224 grams per tonne silver.

The first batch of 2017 drill core samples for the COD Vein returned up to 24.1 grams per tonne gold and 192 grams per tonne silver.

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 grams per tonne gold and 38.64 grams per tonne silver over 16.03 meters core length with a high-grade core grading 10.96 grams per tonne gold and 89.86 grams per tonne silver over 5.97 metres core length.

The company has two drill rigs on the property and is awaiting assay results from a number of additional completed holes.

The shares are trading at $0.115.

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