GGX Gold’s Syndicate Partner J2 Samples 14.6 g/t Gold and 2,890 g/t (84.3 oz/t) Silver on Golddigger Property in the “Golden Triangle”
Vancouver - GGX Gold Corp. (“GGX”) formerly Revolver Resources Inc.The Golddigger property was recently staked by the J2 private syndicate located approximately 30 kilometres southeast of Stewart on tide water on Hastings Arm in the Golden Triangle of Northern BC. The claims cover 8,111 hectares and have tidewater access
In spring, summer and fall of, 2016, geologist Trevor Bremner, P.Geo., played a key role in supervising the J2 Syndicate private syndicate which generated and prospected a total of 110 targets. Based on positive assay results, multiple stand-alone precious metal prospects have been staked in Northwest BC totalling 38,698 hectares. Under an agreement with J2, GGX has a 9% interest in the syndicate. As per news release dated Sept 20 2016. A brief summary of each of these projects will be released as they become available.
The Golddigger property was prospected and staked during the summer and fall of 2016. Golddigger is the first of many to be reported. All the results on the Lotto discovery zone were achieved in just two days of prospecting.
The Lotto discovery zone is up to 100 metres wide, has been traced by prospecting for 3.5 kilometres, and remains open. Bedrock grab samples from a quartz vein in the main Lotto zone have returned assays up to 14.6 grams per tonne gold and 2,890 grams per tonne (84.3 ounces per ton) silver. Another bedrock grab sample from the main Lotto zone assayed 6.4 grams per tonne gold, 1,815 grams per tonne (52.9 ounces per ton) silver, and over 1 per cent lead. Additional sampling has produced multiple samples with values with over 1 gram per tonne gold and 100 grams per tonne silver along a 1.5 kilometre portion of the main Lotto zone.
Within the Lotto zone, there is a strongly mineralized, continuous near-vertical polymetallic vein striking north-south and ranging from 0.5 m to more than 3 meters wide. It is exposed over a vertical extent of more than 500 metres. Due to limited time and challenging topography, much of the vein remains to be sampled. Within the main Lotto vein, galena, pyrite, chalcopyrite, and specular hematite occur as disseminations or masses, and the surface is stained with malachite and iron oxides. The granitic wall rock is intensely silicified with minor disseminated sulphides for up to 3 metres from the vein margins, within a broader envelope of sericite and clay alteration.
The main gold bearing vein appears to continue for at least 1.5 kilometres to the north across a cirque, where a grab sample from a three metre wide vein referred to as Lotto North assayed 1.87 grams per tonne gold, 227 grams per tonne (6.62 ounces per ton) silver, 0.73 per copper, and 0.55 per cent lead and remains open. A bedrock grab sample from quartz veining mid-way between the Lotto main zone and the Lotto North zone assayed 1.84 grams per tonne gold and over 1 per cent lead.
The Lotto structure has been traced visually an additional two kilometres on trend to the north for a total of 3.5 kilometres, where a spot check grab sample on the ridge crest returned 17 grams per tonne silver and 0.1 per cent copper. Multiple parallel veins adjacent to the main vein and along the 3.5 kilometre Lotto structure remain to be sampled.
The Lotto zone is 4.5 kilometres west of a past producer (from 1929)and is located on claims owned by others where high grade historic channel samples have assayed 220.18 grams per tonne (6.43 ounces per tonne) gold over 0.18 meters and 665 grams per ton (19.4ounces per ton) silver have been reported in the past.
Limited prospecting on the east part of the property near a gossaned contact between Hazelton volcanics and granite of the Coast Plutonic Complex has also resulted in discovery of a new zone with significant gold and silver values in outcrop over a distance of nearly half a kilometre that remains open. This area is located 15 kilometres east of the Lotto discovery zone. Mineralization occurs in quartz stringers and breccias containing chalcopyrite and pyrite. A northeast-striking quartz vein with up to 25 per cent pyrite returned 1.7 grams per tonne gold, 28.1 grams per tonne silver, and 0.44% copper in grab samples. Several other bedrock grab samples from this zone returned 1.58 grams per tonne gold, 1.05 grams per tonne gold with 77.4 grams per tonne silver and 1.55 per cent copper, and 1.02 grams per tonne gold with 83.3 grams per tonne silver and 1.13 per cent copper respectively.
A grab sample of comb textured quartz angular float from a ridge on the property 14 kilometres southeast of the Lotto zone assayed 3.6 grams per tonne gold, 52.3 grams per tonne silver, and 0.94 per cent lead. Further prospecting of this area is recommended to locate the outcrop source.
These new discoveries were all made in less than five days of total reconnaissance prospecting on the 8,111 hectare property, over 90 per cent of which remains unexplored. The results have suggested the strength and continuity of the main Lotto vein system, and the wide distribution of gold and silver on the Golddigger property.
An extensive follow up program including geological mapping, prospecting, and channel sampling, is recommended for the Lotto Zone and the new gold zone on the East end of the property in preparation for drilling. In addition, the historic Minfile showings several kilometres east of the Lotto discovery zone are planned to be evaluated.
All the precious metals properties staked in North West B.C. will be made available for option to qualified parties. For further information, interested parties may contact by email J2syndicate@gmail.com ,or by telephone 778 233 0923
A total of 51 rock grab and selected samples were taken on the Golddigger property in 2016. Rock grab samples ranged from below detection limit to 14.6 grams per tonne gold. There are no assays outstanding. Note that grab and selected samples are not indicative of average grades which may be obtained; these can only be determined by additional formal sampling programs.
GGX Gold Inc looks forward, with great anticipation, to disseminating news regularly pertaining to the J2 syndicate properties.
As well the company has granted 1,200,000 stock options at an exercise price of $00.265 cents. The options are exercisable for five years and will be cancelled 30 days after cessation of acting as director, officer, employee or consultant of the company.
On Behalf of the Board of Directors
Dan Stuart, President, C.E.O. & Director
778 233 0293
This News Release may contain forward-looking statements including but not limited to comments regarding the acquisition of certain mineral claims. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Revolver undertakes no obligation to update such statements, except as required by law.
Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates, including that: the current price of and demand for minerals being targeted by the Company will be sustained or will improve; the Company will be able to obtain required exploration licences and other permits; general business and economic conditions will not change in a material adverse manner; financing will be available if and when needed on reasonable terms; the Company will not experience any material accident; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; potential inability to find suitable acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company’s public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Rein Turna P.Geo. Is a qualified person, as defined by National Instrument 43-101, for GGX Gold’s British Columbia exploration projects. He has reviewed and approved, the technical information in this release.
Sample analysis and assaying for all of J2's projects have been conducted by ALS Global laboratory which is ISO accredited, using standard assay techniques in North Vancouver, BC.
Rock samples were crushed to 70% less than 2 millimetres, and a 250 gram sample was split with a riffle splitter. The split is pulverized to 85 per cent less than 75 microns, and 30 gram charges are then assayed for gold using fire assay fusion and ICP ES finish with a lower detection limit of 1 ppb, and an upper detection limit of 10 ppm Au. Samples with gold, silver, copper, lead, or zinc exceeding the upper detection level are reanalyzed the most appropriate method determined by the lab. Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process.
Note: Grab are selective by nature, and are unlikely to represent average grades on the property.