GGX Gold Vein Samples Return Up to 81.8 g/t Gold and 630 g/t Silver at Newly Discovered Everest Vein The Gold Drop Property Greenwood BC
Vancouver, British Columbia (FSCwire) - GGX Gold Corp. (TSXV: GGX) (the “Company” or “GGX”) is pleased to announce receipt of the first batch of analytical results from the current chip and grab sampling program along the newly discovered Everest Vein, located in the Gold Drop Southwest Zone. The Everest Vein was recently discovered by hand pitting a zone of local quartz float, which exposed the vein in-situ. This newly discovered vein is located approximately 600 meters southwest of the C.O.D. shaft and on strike with the newly exposed C.O.D. Vein. The initial grab sample of the Everest Vein from the pit returned 34.1 grams /tonne (g/t) or 1.0 Troy ounces / ton of gold and 233 g/t silver (New Release of July 24 2017). Samples from the first batch of samples returned significant results for gold and silver with values up to 81.8 g/t Gold and 630 g/t Silver.
Since discovery of the Everest Vein outcrop the GGX team has completed 40 meters of excavator trenching and the vein has been chip and grab sampled with samples recently submitted to ALS Minerals for gold and silver analysis. Visible gold has been found at three locations along the vein exposure.
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The Everest Vein samples were analyzed by means of Au and Ag fire assay with gravimetric finish. The first batch of samples from this vein has returned significant results for both gold and silver. Sample 844771, a grab sample of a quartz vein boulder broken off the outcrop by the excavator returned 81.8 g/t gold and 630 g/t silver. Chip samples across the vein exposure returned up to 52.8 g/t gold and 377 g/t silver. The chip samples were collected at approximate 3.5 meter intervals along the vein with samples collected across the face of the vein, being approximately 0.4 meters wide. Gold and silver analyses for the first 8 samples from the Everest vein are listed in the following table:
| SAMPLE | Au | Ag | Sample type |
| DESCRIPTION | ppm | ppm | |
| S844766 | 34.8 | 277 | Chip |
| S844767 | 52.8 | 377 | Chip |
| S844768 | 12.1 | 110 | Chip |
| S844769 | 20.2 | 167 | Chip |
| S844770 | 41.8 | 359 | Chip |
| S844771 | 81.8 | 630 | Grab |
| S844772 | 25.3 | 217 | Chip |
| S844773 | 6.48 | 47 | Chip |
The Company will resume trenching on the Everest Vein when the Fire Danger rating for the region drops to acceptable safe levels. GGX Gold has submitted an additional 5 chip samples for analysis.
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David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.
On Behalf of the Board of Directors,
Barry Brown, Director
604-488-3900
Investor Relations:
Mr. Jack Singh: 604-720-6598 E-mail: ir@ggxgold.com
“ We don’t have to do this, we get to do this ” The GGX Team
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Forward Looking Information
This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, the Company’s information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks 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; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed at the Gold Drop Property. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/ggx08212017.pdf
Source: GGX Gold Corp. (TSX Venture:GGX, OTC Pink:GGXXF)
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