GGX Gold Reports 34.1 gpt Gold and 233 gpt Silver from Grab Sample at New Discovery Vein in British Columbia - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - July 25, 2017) - GGX Gold (TSXV: GGX) has discovered a new gold and silver bearing quartz vein at the Gold Drop Project, located 40 kilometres from Grand Forks, British Columbia in the Greenwood District.
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The vein, now referred to as the Everest Vein, in the South West zone, was discovered by hand pitting a zone of local quartz float, which resulted in exposing the vein in-situ. The initial grab sample of the vein from the hand pit returned assays of 34.1 grams per tonne, or 1.0 ounces per ton gold and 233 grams per tonne silver.
The discovery of the Everest Vein was the result of a recent prospecting program, initiated in an area now more easily accessible due to logging activities. This new vein is located approximately 600 metres southwest of the C.O.D. shaft, and on strike with the newly exposed C.O.D. Vein, where the company is currently conducting diamond drilling.
Since discovery of the Everest Vein outcrop the GGX team has followed up with a second excavator, trenching the vein. To date 40 meters of trenching has been completed and the vein has been chip and channel sampled with samples recently submitted to ALS Minerals. The Everest Vein is mineralized with pyrite and what the company geologists speculate is the gold telluride Calaverite. Visible gold has also been found in the Everest Vein in three locations along the newly exposed structure. The GGX team will focus on expanding the mineralized Everest Vein to the north by means of excavator trenching. Drilling of this area will be dependent on the chip and channel sample assay results.
The shares are trading at $0.195 and with 23.5 million shares outstanding, the company is capitalized at $4.6 million.
For more information, please visit the company's website at www.ggxgld.com, contact Jack Singh, Investor Relations, at 604-720-6598, or by email at ir@ggxgold.com.
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