GT Gold Reports Final 2018 Drill Results; Continues to Extend Saddle South Au-Ag Mineralized System

2019-02-12 / @nasdaq

 

VANCOUVER, British Columbia, Feb. 12, 2019 (GLOBE NEWSWIRE) -- GT Gold Corp. (“GT Gold” or the “Company”) (TSX.V: GTT) is pleased to report the results for the final Saddle South core holes from its 2018 exploration drilling program. The program was successful in extending the high-grade epithermal system discovered in 2017 along strike by several hundred metres, and to a similar depth beneath largely covered and untested areas east and west of Saddle Ridge. High-grade intercepts within numerous broadly mineralized intervals continue to increase the extent of the Saddle South mineralized system.

Figure 1
Saddle South Drilling Plan View


Figure 2
Saddle South Section XS Rockpile 1


Figure 3
Saddle South Section XS Rockpile 2


Figure 4
Saddle South Section XS Rockpile 3


Figure 5
Saddle South Section XS3444


Figure 6
Saddle Summary Plan View


Building on the success of the 2018 drilling campaign at Saddle South and North, the team at GT Gold is currently in the process of compiling and interpreting our enhanced data set ahead of our 2019 exploration season. Once finalized the company will update its plans for 2019.

Highlights

  • Southwest of Saddle Ridge: high-grade intervals within broadly mineralized intersections.
     
    • Hole TTD103:
      • 18.08 g/t Au and 313.38 g/t Ag over 2.13 metres from 92.18 metres, within 3.85 g/t Au and 57.39 g/t Ag over 16.06 metres from 82.57 metres, within
        • 1.19 g/t Au and 13.87 g/t Ag over 68.14 metres from 59.2 metres
      • 4.12 g/t Au and 7.72 g/t Ag over 4.27 metres from 259.66 metres,
      • And 48.0 g/t Au over 0.77 metres from 250.51 metres with visible gold, within
        • 1.56 g/t Au over 42.66 metres from 221.27 metres

    • Hole TTD096:
      • 8.15 g/t Au and 5.40 g/t Ag over 5.85 metres from 277.9 metres, within
        • 5.37 g/t Au and 2.85 g/t Ag over 16.19 metres from 267.56 metres, within
          • 2.34 g/t Au over 37.75 metres from 246 metres

    • Hole TTD100:
      • 5.17 g/t Au over 14.91 metres from 475.48 metres, and 5.24 g/t Au and 7.32 g/t Ag over 2.85 metres from 402.55 metres, within
        • 1.07 g/t Au over 126.20 metres from 382.8 metres
           
    • Drill results and oriented core data suggest that the mineralizing system trends more to the south, where it remains open.
       
  • East of Saddle Ridge: visible gold intersected in TTD105 (187.50 g/t Au & 53.6 g/t Ag over 0.74 m from 332.26 metres) confirms presence of high grades within the gold-bearing system in the easternmost drill holes. This intercept is coincident with an extensive high-potential chargeability anomaly that is yet to be fully tested.

“The 2018 exploration program exceeded our goals. Following our impressive 2017 discovery of high-grade gold at Saddle South, we hoped to considerably expand the footprint of gold-bearing mineralization,” said Charles Greig, Vice President of Exploration for GT Gold Corp. “These latest results show that the system stretches well to the southwest and continues with strength beneath the previously untested “Rockpile” on the southwest side of Saddle Ridge, where it remains open. With the recent excitement of GT Gold’s Cu-Au porphyry discovery at Saddle North, it is easy to overlook the fact that Saddle South has developed into a potentially economic prospect on its own. It remains open at depth and along strike to the east, and to the west, the Saddle South system appears to turn southerly, where it also remains open.”

A plan view (Figure 1) showing the locations of Saddle South core holes and drill sections, and the drill sections themselves (Figures 2-5), are attached to this news release, as is a summary plan view highlighting exploration potential of the Saddle zones (Figure 6). A total of 16,587 metres of core were drilled at Saddle South in 2018, and a grand total of 32,582 metres have now been drilled at Saddle South over two seasons of exploration. The mineralized system now has a strike length of at least 1300 metres, a width of up to 300 metres, and it extends to depth over 600 metres from surface.

Saddle South

The 2017 exploration program, testing an excellent Au-in-soil anomaly with the first-ever drilling in the Saddle area, confirmed the presence of an epithermal gold system at Saddle South. It is hosted by hydrothermally-altered volcanic fragmental and volcaniclastic rocks of the Upper Triassic Stuhini Group and cut by dikes, primarily of latest Triassic and Early Jurassic age. Drilling defined a well-mineralized east-west trend of gold-bearing and sulphide-rich veins spanning roughly 400 metres that was up to 150 metres across and is coincident with a moderate chargeability high and resistivity low. The 2017 drilling returned many high-grade intercepts (e.g., 51.53 g/t over 6.95 metres in TTD007; 20.02 g/t Au over 8.25 metres in TTD046), and the aim of the 2018 program at Saddle South was to further test the strike and depth extents of the system.

Early drilling in the 2018 season quickly expanded both the depth extent and the strike length of the high-grade system. Deep intercepts on the west (e.g., TTD079), and on the east (e.g., TTD069), have increased the size and exploration potential, as have intercepts along strike to the west (e.g., TTD065, TTD068, TTD076),and to the east (e.g., TTD105, with 187.5 g/t Au over 0.74m). On the west margin of Saddle Ridge, and in all holes drilled west of the ridge and beneath the rock glacier in that direction, mineralized veins generally trend north-northeast (average strike 200) and dip moderately west-northwest (average 55°). Veins oriented in this direction correspond with a more southerly trend of the system, toward an area across the rock glacier where 2018 soil and talus fines sampling yielded highly encouraging results for gold (see news, September 4, 2018; figure 6). Also encouraging was the fact that drill holes collared from the rock glacier encountered less overburden than expected (typically less than 30 metres), suggesting that the potential evident to the southwest may be readily tested.

Table 1 – Saddle South 2018 Diamond Drill Program Assay Results. Significant intercepts for 21 NQ-diameter diamond drill holes are reported below. For hole locations, dips and azimuths, please refer to the accompanying drilling plan view (Figure 1) and drill sections (Figures 2-5), as well as Table 2 below. Widths reported are drilled core lengths. True widths are estimated at approximately 85% of reported intercepts.

HoleAu (g/t)Interval (m)¹From (m)To (m)Ag (g/t)
 
TTD0800.546.5682.889.360.14
Including2.20.9782.883.770.34
 
TTD081No significant intervals
 
TTD0820.5177.83288.41366.240.45
 
TTD0830.3514.56236.68251.240.31
Including0.883.66236.68240.340.67
 
TTD0840.952.64391.91394.550.47
Including4.281.17543.05544.221.74
 
TTD0860.8618.41143.31161.721.14
Including1.96.2155.52161.722.8
Including9.130.9160.82161.7217.1
 
TTD0870.8626.62135.08161.73.76
Including1.4814.15147.55161.76.75
Including9.711.45147.5514961.5
 
TTD0881.870.7118.58119.282.23
 
TTD0890.2947.21220.84268.050.66
TTD0891.883.39325.05328.443.83
TTD0891.2110.35415.654260.68
Including8.921.24419.85421.092.51
 
TTD0910.747.8592.6140.450.85
Including0.9327.0892.6119.681.24
Including1.610.2292.6102.821.51
Including5.612.4299.35101.774.91
TTD09112.41.24209.762111.47
 
TTD0920.7727.93245.072730.68
Including2.45.54267.462732.3
Including3.812.54267.462703.8
 
TTD0940.2827.1285.24112.360.42
 
TTD0950.6416.81180.91197.721.07
 
TTD09612.292.07209.81211.889.23
Including23.51209.81210.8117.25
TTD0965.3716.19267.56283.752.85
Including7.025.58267.56273.142.28
Including19.751.84267.56269.44.5
And8.155.85277.9283.755.4
Including24.661.85277.9279.7512.04
 
TTD0970.2748.75113161.751.23
TTD0970.4130.9181.6212.50.19
Including2.343.23195.17198.40.42
TTD0975.322.2237239.21.62
TTD0971.8623.73347.5371.230.96
Including10.513347.5350.51.17
Including34.10.91348.42349.332.61
 
TTD0990.8318.7249.16267.860.64
TTD0993.812.41300.35312.762.85
Including6.56.35300.35306.73.7
Including27.30.53306.17306.712.75
TTD0991.624.41428432.4114.05
TTD0992.134.3465.74702.56
 
TTD1001.07126.2382.85091.88
Including5.242.85402.55405.47.32
And3.3224.89475.48500.373.8
Including5.1714.91475.48490.396.2
 
TTD1011.7713.35557570.351.74
Including2.9575575643.04
Including7.3725625648.61
 
TTD1031.1968.1459.2127.3413.87
Including3.8516.0682.5798.6357.39
Including8.864.9992.1897.17136.96
Including18.082.1392.1894.31313.38
TTD1031.5642.66221.27263.931.6
Including2.5725238.93263.932.56
Including²480.77250.51251.2813.4
And4.124.27259.66263.937.72
 
TTD104No significant intervals
 
TTD1050.3648.1442.6590.790.56
Including1.136.798490.792.75
 And²187.50.74332.2633353.6

1. Widths reported are drilled core lengths. True width is estimated to be approximately 85% of drilled length
2. Visible gold present in interval

Table 2 – Saddle South Collar Information: Refer also to the accompanying drilling plan view and drill sections

Hole
Number		Azimuth
(degrees)		Dip
(degrees)		Length
(m)		Elevation
(m)		UTM EUTM NSection
TTD080180-4546217264338976408284 
TTD081180-7038417264338976408284 
TTD082170-7066915334334036408310XS Rockpile 2/3*
TTD083350-4554917944340296408038 
TTD084170-5057314984333006408375 
TTD086165-5041116554342476408195 
TTD087165-6527916554342476408195 
TTD088165-8034516554342476408195 
TTD089195-4551616274344976408177 
TTD091125-4535715444333916408220XS Rockpile 2*
TTD0920-5047718284340626407892 
TTD0940-7047418284340626407892 
TTD095115-4529815524333896408119XS Rockpile 1*
TTD096115-7536615524333896408119XS Rockpile 1*
TTD097115-8562115524333896408119XS Rockpile 1*
TTD099170-5060315834334486408418XS Rockpile 2/3*
TTD100170-6356715834334486408418XS Rockpile 2/3*
TTD101170-5562415624334506408315XS Rockpile 2/3*
TTD103305-4542616514336836408097XS Rockpile 3*
TTD104350-4526717064346156408041 
TTD105170-4540817064346156408041 

*See section XS3444 for alternative section view of drill hole

QA/QC Procedures

GT Gold has implemented a rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling and analysis of diamond drill core, the details of which can be viewed on the Company's website at http://www.gtgoldcorp.ca/projects/tatogga/.

All assays are performed by ALS Canada Ltd., with sample preparation carried out at the ALS facility in Terrace, BC, and assays at the North Vancouver laboratory. Assay values are uncut. For gold, fire assays are performed as per ALS method Au-AA26 (0.01-100.00 g/t Au) using 50 grams of sample measured by atomic absorption (AA). Assays equal to or greater than 100 g/t Au are reanalyzed gravimetrically by method Au-GRA22. Silver and copper are analyzed by ALS method ME-MS61 with a 4-acid digestion followed by ICP-MS analysis.

Qualified Person

Charles J. Greig, M.Sc., P.Geo., Vice President, Exploration for GT Gold Corp. and a Qualified Person as defined by NI-43-101, has reviewed and approved the technical information in this press release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

About GT Gold

GT Gold Corp. is focused on exploring for base and precious metals in the geologically fertile terrain of British Columbia’s renowned Golden Triangle. The Company’s flagship asset is the wholly-owned, 45,847-hectare Tatogga property, located near Iskut, BC, upon which it achieved in 2017 two major discoveries at its Saddle prospect: a near surface bulk-tonnage and potential deep high-grade underground-style epithermal gold-silver vein system at Saddle South and, close by at Saddle North, a large-scale, richly mineralized and high-grade porphyry copper gold mineralized intrusion. The Company has the backing of major institutions and is currently in the process of planning its 2019 drilling campaign.

For more information please contact:

GT Gold Corp.GT Gold Corp.GT Gold Corp.
Steve BurletonCharles J. Greig, P.GeoAmandip Singh
President and Chief Executive OfficerVice President, ExplorationDirector, Corporate Development
Tel: (647) 256-6752Tel: (250) 492-2331Tel: (647) 256-6754
Website: www.gtgoldcorp.ca  

Cautionary Statement Regarding Forward Looking Statements

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Figures 1-6 accompanying this announcement are available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/fd4dc608-d03a-4fbd-969a-71591a720397

http://www.globenewswire.com/NewsRoom/AttachmentNg/18f8667c-75e5-489a-8937-3d5351146bfc

http://www.globenewswire.com/NewsRoom/AttachmentNg/b24c05cf-2137-4efd-83a1-75a4bd17ff13

http://www.globenewswire.com/NewsRoom/AttachmentNg/91df4ad5-8d8b-477d-8cf1-997ad1418e02

http://www.globenewswire.com/NewsRoom/AttachmentNg/1526fdd6-ec00-46e7-afb1-767fba7c1c5f

http://www.globenewswire.com/NewsRoom/AttachmentNg/dcad1391-30c4-4fe5-835d-c141c26fe4cd

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