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GGX Gold Signs Exclusivity Letter with Golden Dawn Minerals Regarding the Kettle River Claim Group in the Greenwood Mining Camp.
VANCOUVER, BC / ACCESSWIRE / May 07, 2019 / GGX Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FR...
About this update from Ggx Gold Corp.
[{"type":"text","content":"GGX Gold Signs Exclusivity Letter with Golden Dawn Minerals Regarding the Kettle River Claim Group in the Greenwood Mining Camp.VANCOUVER, BC / ACCESSWIRE / May 07, 2019 / GGX Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the \"Company\" or \"GGX\") is pleased to announce it has signed an \"Exclusivity Letter\" with Golden Dawn Minerals Inc. (GOM) (TSX-V:GOM) giving GGX a sixty day \"Exclusivity Period\" whereby GGX may conduct a due diligence investigation for a possible acquisition. During this period, GGX will investigate claim standings, exploration data and complete an independent third-party valuation of the Kettle River Claim Group (KRCG), located in the Greenwood Mining Camp of southern British Columbia. After the Exclusivity Period, GGX may negotiate a mutually acceptable \"Definitive Agreement\" with GOM for acquisition of all or part of the KRCG. View Greenwood Claim MapThe Kettle Claim Group is owned by Kettle River Resources a private company which GOM owns all the outstanding shares.The KRCG consists of two separate claim blocks. The first block is referred to as the Phoenix claim block which is directly adjacent to the Gold Drop property owned by GGX. The Phoenix claim block is a 10,321 Ha land package consisting of: 51 mineral tenure claims 57 Crown grants with sub-surface rights covering the historic Phoenix mine 24 Crown grants with surface rights that include old town site lots from Phoenix 20 Crown grants with sub-surface rights over historic mine workings 49 documented mineral showings +30 historical past producing mines View Phoenix MapThis claim block also includes the historic Phoenix mine. The Phoenix mine originally operated as an underground operation from the early 1890's. In 1956 Granby Mining started an open pit mining operation which ran until 1978. During the open pit mining period the Phoenix Mine produced 21.5 million tonnes at a grade of 0.9% Cu and 1.12 g/t Au, containing +1 million ounces of gold, 18 million ounces of silver and 575 million pounds of copper. (BC MINFILE 082ESE020)As part of the evaluation process GGX will be reviewing a recently compiled extensive digital database of the Phoenix claim block representing 120 years of geological and mining information, comprised of files, records, reports and maps, rock specimen samples, and a core storage library.The second claim block...