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GGX Gold announced it is now fully permitted to drill test a large, deep geophysical anomaly at its Gold Drop Property

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The new 5-year, area-based exploration permit for the Gold Drop property will allow drilling of a large, deep geophysical anomaly identified by previous Stargate II surveys performed by Earth Science Services Corporation of Oshawa, Ontario (ESSCO) (www.earthscienceservices.ca) over the Republic Graben trend in Washington and British Columbia.

Additional Information:

Company: GGX Gold
Website: http://www.ggxgold.com
Stock Symbol: TSXV: GGX
Date Published: Sep 5, 2019
Transcript: Available

Video Transcript:

I’m Nadika Viswakula for Investmentpitch Media

GGX Gold announced that it is now fully permitted to drill test a large, deep geophysical anomaly 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.

The new 5-year, area-based exploration permit for the Gold Drop property will allow drilling of a large, deep geophysical anomaly identified by previous Stargate II surveys performed by Earth Science Services Corporation of Oshawa, Ontario over the Republic Graben trend in Washington and British Columbia.

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

The anomaly is interpreted as a pipe-like structure, measuring 1,834 by 1,377 meters, with a target zone at depths between 500 and 800 meters.

Three drill holes, which are included in the new permit work plan, are planned to test this anomaly at different directions from separate locations.

Thanks to prompt action by the B.C. Ministry of Energy, Mines and Petroleum Resources in response to the company’s request, one site was added to the existing permitted work for this year, with the remaining two sites in next year’s plan.

The company is now preparing the drill site and will move the drill rig once it has completed the last hole at the C.O.D. vein.

Drilling at the C.O.D. North vein was completed, and the rig was moved back to the main C.O.D. vein to test below the best mineralized area identified to date.

As of September 2, a total of 2,284 metres have been drilled in 48 holes on the main C.O.D. vein, and an additional 685 metres drilled in 10 holes on the C.O.D. North vein.

Assays from the first drill holes are pending.

The new permit also allows exploration trenching and drilling in other areas of the property this year, including an area west of the C.O.D. vein on parallel vein targets, at the Rhoderick Dhu prospect, and at multiple sites at the historic Gold Drop gold mine.

The shares are trading at $0.23.

For more information, please visit the company’s website at www.ggxgold.com, contact Barry Brown, Director, at 604-488-3900.

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

I’m Nadika Viswakula for Investmentpitch Media