GGX Gold Corp (CVE:GGX) (OTCQB:GGXXF) (FRA:3SR2) told investors that 18 new holes have been completed as part of a diamond program at its flagship high grade, near surface Gold Drop property in the historic Greenwood Mining Camp, in British Columbia.
In the update on its exploration work, GGX Gold said the core diamond drilling program which started on June 8 this year has progressed rapidly with a total of 18 drill holes completed to date.
“The program started by drilling the Perky vein where 12 drill holes were completed to test the northern lateral extension of the vein,” said the company. The drilling rig was then moved over to test the Lively vein where a total of 6 drill holes have been completed with the seventh drill hole currently in progress.
According to the Vancouver-based company, the Lively vein successfully intersected the vein and discovered a parallel mineralized structure to east of the Lively vein, approximately 10-20 cm in true width containing pyrite along the contact margins.
Once drilling of the seventh hole at the Lively vein is complete, the rig will be relocated to the COD vein where one drill hole is planned to test the northern edge of the known mineralization, added the company.
Separately, GGX Gold said in the statement that it will not be proceeding with the issuing stock options previously announced on June 17, 2021.
GGX Gold’s Gold Drop property was mined intermittently from 1919 to the 1980s. Historical production amounted to 7,572 tonnes at an average grade of 5.2 grams per ton (g/t) of gold and 93.4 g/t of silver, with the majority of production coming before 1942.
GGX's attention has particularly focused at the COD vein on the property, which is high-grade and near-surface.
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