GGX Gold Completes Soil Sampling Program at Gold Drop Project Near Greenwood, B.C., 160 Samples Shipped for Analysis - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - September 1, 2017) -GGX Gold (TSXV: GGX) (OTC Pink: GGXXF) has completed a detailed soil sampling and prospecting program at the Gold Drop project, which is located 40 kilometres from Grand Forks, British Columbia in the Greenwood District.
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The program was completed in the gold Drop Southwest Zone in the area of the C.O.D. Vein. The C.O.D. Vein is a Dentonia/Jewel style quartz vein that has been exposed on surface during the 2017 field season.
To date, 200 metres of trenching has exposed over 160 metres of vein. The area of interest is located north of the current trench and drill pad locations.
The objective of the soil sampling and prospecting program was to help identify the continuity of the C.O.D. Vein and possible structures between the C.O.D. and the C.O.D. North Zone. Analytical results for 68 channel samples have been received, with samples returning anomalous to high grade values for gold, up to 43.2 grams per tonne gold and 224 grams per tonne silver. Detailed East-West soil traverses with 25 metre spacing have been completed in the area.
To date 160 soil samples have been collected and shipped to Vancouver for analysis, with a second survey currently underway in the C.O.D. north area, to identify targets between the veins.
During the soil sampling program, a small 2 metre deep adit was discovered 175 metres north of the C.O.D. trench. The adit is driven on a North-south striking quartz vein that is on strike with the C.O.D. Vein, and appears to be of the same Detonia/Jewel style quartz vein. The area of this newly discovered adit is a trenching target. The objective of future trenching in this area is to define the vein trend and possible length.
The company recently closed an oversubscribed non-brokered private placement, raising gross proceeds of $480,000 from the issuance of 2.4 million flow-through units, priced at $0.20, with wach unit consists of 1 share and 1 warrant, with each warrant exercisable to purchase an addition flow through share at $0.25 for 60 months, subject to an acceleration clause.
The shares are trading at $0.16 and with 26.9 million shares outstanding, the company is capitalized at $4.3 million.
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.
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