17:29:02 EDT Sat 04 May 2024
Enter Symbol
or Name
USA
CA



GGX Gold Corp
Symbol GGX
Shares Issued 37,718,609
Close 2018-04-23 C$ 0.10
Market Cap C$ 3,771,861
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GGX Gold completes 1,484 m on COD vein at Greenwood

2018-04-24 08:02 ET - News Release

Mr. David Martin reports

GGX GOLD COMPLETES 1484 METERS ON THE COD VEIN AND EXTENDS THE VEIN - 30 METERS TO THE SOUTH - GREENWOOD BC

GGX Gold Corp. has completed 24 diamond drill holes targeting the COD vein in the Gold Drop southwest zone. To date the 2018 diamond drill program has completed 24 drill holes totalling 1,484 metres or 4,883 feet on the COD vein. Updates on the diamond drilling at the Everest vein will be provided shortly.

Currently the COD vein drill is located at a pad 30 metres south of the southernmost extent of the 2017 trench. The drill hole DDCOD18-24 intersected the COD vein 42 m below surface. The drill hole successfully extends the COD vein occurrence 30 m along strike. Listed below are the highlights from the latest series of COD diamond drill holes (holes 10 to 24). All reported widths are core length.

  • DDCOD18-24 intersected a 2.17 m mineralized zone including a 1.6 m wide quartz vein intercept.
  • DDCOD18-21 intersected a 7.32 m mineralized zone including 3.52 m of quartz veining.
  • DDCOD18-20 intersected a 2.66 m mineralized zone including a 1.56 m quartz vein intercept.
  • DDCOD18-19 intersected a 1.40 m quartz vein intercept and a second 0.46 m vein intercept.
  • DDCOD18-18 intersected a 1.54 m mineralized zone including 1.14 m quartz vein intercept.
  • DDCOD18-14 intersected a 2.94 m mineralized zone including a 1.5 m quartz vein intercept.

The core is currently being split and securely packaged for shipment to ALS laboratories in Vancouver, B.C. There the core will be analyzed for gold by fire assay and for 48 multielement four-acid and ICP-MS (inductively coupled plasma mass spectrometry). Quality control (QC) samples are being inserted at regular intervals.

David Martin, PGeo, a qualified person as defined by NI 43-101 and consultant for GGX, is responsible for the technical information contained in this news release.

The company, as previously announced on April 6, 2018, wishes to remind all subscribers and finders from its private placement that took place during April, 2017, that the company has accelerated the term of these warrants to further finance its continuing drill program. The term of the 10-cent warrants associated with this placement may be accelerated in the event that the issuer's shares trade at or above a price of 15 cents per share for a period of 10 consecutive days. In June of 2017, after the final closing announced on May 3, 2017, the shares of the company traded in this range. The warrants being accelerated at 10 cents are attached to the 7.5-cent private placement that took place in April, 2017. Warrantholders now have until May 7, 2018, to exercise their warrants, or they will be terminated.

We seek Safe Harbor.

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