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GGX Gold intersects 5.68 metres of 2.51 g/t gold in COD Vein at Gold Drop property, Greenwood, BC

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Assay results were received for drill holes 11 to 16 on the C.O.D. vein. Highlights include a large 5.3 metre thick mineralized quartz vein in hole COD20-11, extending from 18.43 to 23.71 metres.

Additional Information:

Company: GGX Gold Corp.
Website: http://www.GGXgold.com
Stock Symbol: TSXV: GGX
Date Published: Mar 9, 2021
Transcript: Available

Video Transcript:

I’m Megan Edwards for Investmentpitch Media

GGX Gold Corp. has released additional results from its 2020 exploration program at its Gold Drop property.
The Gold Drop Property is located 3 kilometres north of Greenwood, in the Greenwood mining camp in southern British Columbia, one of the most prolific mining camps in Canada.

A total of 3,865 metres was drilled in 37 holes.

This included one hole of 786 metres to test a deep geophysical porphyry target, 19 holes totaling 1,894 metres to test the C.O.D. vein structure, and 17 holes totalling 1,185 metres to test the Perky vein.

Assay results were received for drill holes 11 to 16 on the C.O.D. vein.

Highlights include a large 5.3 metre thick mineralized quartz vein in hole COD20-11, extending from 18.43 to 23.71 metres.

The immediate wall rock assayed 9.14 grams per tonne gold over 0.4 metres and values of 9.66 grams per tonne gold over 0.5 metres and 3.34 grams per tonne gold over 1.09 metres were obtained within the vein.

The weighted average for the intercept from 18.03 to 23.71 meters in hole was 5.68 metres grading 2.51 grams per tonne gold.

This hole was drilled to test the northern edge of an area of high-grade mineralization that was discovered in 2018 and drilled in 2018 and 2019.

The significant result for this hole shows that the mineralized zone extends further north than previously defined.

Holes 12 to 15 were drilled to intersect the COD vein from its west side, north of the high-grade zone.

Holes 12, 13 and 15 intersected a massive quartz-rich pegmatite body making up to 13 meters length in the core, with no significant precious metal values.

Hole 14 intersected clay altered granodiorite with no significant precious metal values, possibly indicating the vein zone pinches down to a fault zone at this spot.

Hole 16, which failed to intersect any quartz veins, was drilled to test the southern extension of the COD Vein, near a previous intercept obtained in hole COD18-42 of 6.58 grams per tonne gold over 0.35 meters.

Analytical results are pending for the remaining holes drilled on the C.O.D. structure and several holes drilled on the Perky vein, a new discovery vein where high-grade assay results were obtained from surface trenching.

The company also announced a non-brokered private placement and plans to raise gross proceeds of up to $300,000 from the placement of up to 2,050,000 units priced at $0.1463.

Each unit consists of 1 share and 1 warrant, with the warrant exercisable at $0.2438 per share for 36 months.

The proceeds of the private placement will be used for general working capital and continued exploration work at the Gold Drop property.

The shares are trading at $0.15.

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