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GGX Gold Intersects 235 metres of Magnetite - Mineralization at Geophysical Target
VANCOUVER, BC / ACCESSWIRE / December 6, 2019 / GGX Gold Corp. (TSXV:GGX)(OTCQB:GGXXF)(FRA:3...
About this update from Ggx Gold Corp.
[{"type":"text","content":"GGX Gold Intersects 235 metres of Magnetite - Mineralization at Geophysical TargetVANCOUVER, BC / ACCESSWIRE / December 6, 2019 / GGX Gold Corp. (TSXV:GGX)(OTCQB:GGXXF)(FRA:3SR2) (the \"Company\" or \"GGX\") is pleased to provide an update on its last drill hole that tested a large, deep geophysical anomaly at its Gold Drop property in the Greenwood Mining Camp.As previously announced in a news release dated July 24, an airborne audio magnetotelluric (AMT) geophysical anomaly was identified on the property by Earth Science Services Corporation of Oshawa, Ontario (ESSCO). The anomaly is interpreted as a pipe-like structure that measures 1834 by 1377 metres in width. For more information, see the video posted on the corporate website.The last hole drilled on the Gold Drop property in 2019, Hole AMT19-01, tested this geophysical feature and was competed to a depth of 718.8 metres (2,358 feet) on October 21. This hole was one of three holes proposed to test the feature (the other two holes will be permitted in 2020). As described in a previous news release, the hole intersected calc-silicate alteration (patches of epidote-calcite-garnet) and disseminated magnetite mineralization starting at 479 meters depth. The magnetite mineralization continues to 714.8 metres depth, for a total mineralized interval of over 235 metres. Magnetite varies in abundance, being strongest within greenstone and weakest in cherty host rocks (and absent in rhyolite and porphyry dikes). Magnetite was not detected in only the last 4 metres of the hole, which passed through cherty argillite and a 1 metre thick porphyry dike. This last 4 metres could be a weakly mineralized interval in which case additional mineralization could lie below the bottom of the hole. Minor visible sulphide mineralization was observed between 699.4 and 714.8 metres depth, consisting of iron sulphides (pyrite and pyrrhotite), possibly indicating a gradation to sulphide mineralization.Location of hole AMT19-01 within geophysical anomaly (red) and location of C.O.D. veins (green).The first appearance of strong magnetite mineralization at 479 meters closely corresponds to the predicted start of the modeled anomalous zone (the start of the zone was predicted at 441 metres depth by ESSCO) so it appears the magnetite mineralization is the source of the geophysical anomaly.The origin of the m...