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GGX Gold unveils more drill results from Gold Drop, including 0.5 m at 84.7 g/t gold

This year, a total of 3,160 m were drilled in 49 holes to test the COD and COD North veins

GGX Gold Corp. -
Another highlight drill assay was 0.48 m at 41.20 g/t gold, 431 g/t silver and 314 ppm tellurium

GGX Gold Corp (CVE:GGX) (OTCMKTS:GGXXF) unveiled drill assays on Friday for holes sunk this season at the Gold Drop project in the Greenwood mining camp in British Columbia, including highlights of an intersection of 0.5 metres (m) at 84.7 grams per ton (g/t) gold. 

This year, a total of 3,160 metres were drilled in 49 holes to test the COD and COD North veins, the company said. In another deep hole, 719 metres were drilled. Today's assays are from holes 28 to 48. 

Other highlight assays included 0.32 m at 58.30 g/t gold and 384 g/t silver and 355 parts per million (ppm) tellurium in one hole. 

Also recovered was 0.48 m at 41.20 g/t gold, 431 g/t silver and 314 ppm tellurium.

READ: GGX Gold posts more encouraging drill results from Gold Drop

Greenwood is one of the most prolific gold-copper camps in North America and the Vancouver-based group's flagship site is the high grade, near surface, Gold Drop property, which was mined intermittently from 1919 to the 1980s.

Historical production amounted to 7,572 tonnes at an average grade of 5.2 grams per tonne (g/t) of gold and 93.4 g/t of silver, with the majority of production coming before 1942.

The wider Greenwood district was once home to 26 mines, which produced more than 1.2 million ounces of gold and over 270,000 tonnes of copper, as well as silver, lead and zinc.

Last week, the firm reported that it had hit 235 m of magnetite mineralization with its deep hole into the large, deep geophysical anomaly at its flagship Gold Drop project in British Columbia.

This is one of three holes planned to test the feature, with the other two holes to be permitted in 2020.

The hole showed that the magnetite mineralization continues to 714.8 m depth, for a total mineralized interval of over 235 m, GGX revealed.

The origin of the magnetite mineralization remains unexplained, said GGX, but added that magnetite is commonly associated with skarn-type copper-gold deposits formed by the replacement of limestone.

Contact the author at [email protected]

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