GT Gold Corp.
TSX VENTURE : GTT

GT Gold Corp.

October 16, 2017 08:30 ET

GT Gold Continues to Deliver Abundant High Grades at Saddle South; Intercepts 220 g/t Au over 0.54m in TTD031 and 14.75 g/t Au over 12.15m in TTD019...

... While Extending Strike Length to 1000 Metres

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 16, 2017) - GT Gold Corp. ("GT Gold" or the "Company") (TSX VENTURE:GTT). GT Gold is pleased to report continued high grade assays from drilling at its Saddle gold discovery, located just 10 kilometres off highway 37 on the Company's Tatogga property in northwestern British Columbia, Canada.

The latest strong results can be broken into three categories:

  1. Continuing abundant high-grade intercepts at Saddle South; commonly multiple hits per hole;
  2. Major extension of the strike length at Saddle South;
  3. Strong new mineralized intercepts at the very large-scale Saddle North target, enhancing the high-grade epithermal potential and suggesting discovery potential for a large-scale copper-gold porphyry

16,180 metres of drilling has now been completed in 64 core holes at Saddle, far beyond the 2,600 metres of core drilling envisaged at the start of the season. Results for 17 Saddle South core holes are reported in this news release, continuing the well-established pattern of high grades and excellent zone continuity delivered by earlier drill results. Assays for an additional 33 core holes (4 from Saddle North, 29 from Saddle South) are pending and will be released in the weeks ahead. Strong-to-exceptionally strong visual intercepts in several of these remaining 33 holes, supported by X-Ray Fluorescence (XRF) for gold pathfinder elements, indicates drilling has tapped into richly mineralized portions of the system, suggesting the program's best results may yet be to come.

  1. Continuing abundant high grade intercepts at Saddle South (see Table 1 for complete results):
  • 14.86 g/t Au & 7.50 g/t Ag over 2.00 m from 105.00 to 107.00 m in TTD013
    • inc. 17.60 g/t Au & 9.90 g/t Ag over 1.11 m from 105.00 to 106.11 m
  • 16.84 g/t Au & 41.39 g/t Ag over 0.67 m from 32.11 to 32.78 m in TTD018
    • and 10.94 g/t Au & 24.53 g/t Ag over 1.36 m from 129.50 to 130.86 m
  • 14.75 g/t Au & 36.23 g/t Ag over 12.15 m from 75.00 to 87.15 m in TTD019
    • inc. 24.34 g/t Au & 55.40 g/t Ag over 3.16 m from 82.00 to 85.16 m
    • inc. 30.10 g/t Au & 86.00 g/t Ag over 1.00 m from 83.00 to 84.00 m
  • 10.90 g/t Au & 37.10 g/t Ag over 0.97 m from 77.20 to 78.17 m in TTD020
  • 13.22 g/t Au & 15.18 g/t Ag over 7.00 m from 121.00 to 128.00 m in TTD022
    • inc. 20.59 g/t Au & 23.08 g/t Ag over 4.29 m from 121.71 to 126.00 m
    • inc. 30.10 g/t Au & 30.00 g/t Ag over 1.50 m from 124.50 to 126.00 m
  • and 18.70 g/t Au & 14.50 g/t Ag over 0.60 m from 137.15 to 137.75 m in TTD022
  • 12.37 g/t Au & 15.40 g/t Ag over 4.44 m from 43.56 m to 48.00 m in TTD024
    • inc. 16.75 g/t Au & 21.18 g/t Ag over 3.17 m from 43.56 to 46.73 m
    • inc. 28.40 g/t Au & 33.76 g/t Ag over 1.44 m from 43.56 to 45.00 m
  • and 13.65 g/t Au & 58.29 g/t Ag over 3.03 m from 70.05 to 73.08 m in TTD024
    • inc. 16.52 g/t Au & 74.40 g/t Ag over 2.03 m from 71.05 to 73.08 m
    • inc. 21.40 g/t Au & 94.80 g/t Ag over 0.52 m from 72.56 to 73.08 m
  • 14.09 g/t Au & 102.61 g/t Ag over 1.70 m from 44.53 to 46.23 m in TTD026
    • inc. 34.40 g/t Au & 246.00 g/t Ag over 0.69 m from 45.54 to 46.23 m
  • and 16.07 g/t Au & 65.67 g/t Ag over 2.91 m from 154.82 to 157.73 m in TTD026
    • inc. 26.58 g/t Au & 115.16 g/t Ag over 1.62 m from 156.11 to 157.73 m
    • inc. 84.70 g/t Au & 371.00 g/t Ag over 0.47 m from 156.11 to 156.58 m
  • 11.44 g/t Au & 115.71 g/t Ag over 1.43 m from 131.00 to 132.43 m in TTD029
  • 28.40 g/t Au & 3.50 g/t Ag over 0.61 m from 34.34 to 34.95 m in TTD030
  • 48.85 g/t Au & 8.97 g/t Ag over 3.36 m from 109.25 to 112.61 m in TTD031
    • inc. 220.00 g/t Au & 36.80 g/t Ag over 0.54 m from 109.25 to 109.79 m
  • and 46.70 g/t Au & 10.00 g/t Ag over 0.96 m from 111.65 to 112.61 m in TTD031
  • and 17.10 g/t Au & 19.80 g/t Ag over 0.90 m from 143.10 to 144.00 m in TTD031

  1. Major extension of the strike length at Saddle South
  • Expansion drilling extends the strike length of mineralization at Saddle South to 1,000 metres east-west, a major increase from the 360 metres reported on Sept. 18, 2017 (see discussion, below);
  • Exceptionally strong chalcopyrite and other key pathfinder mineral and element-enriched visual intercepts in multiple holes including TTD058 and TTD060 (assays pending - TTD058 photos posted to website).
  • Saddle South west step-outs: Saddle South hole TTD051 (plan view, attached, assays pending); an aggressive 150-metre step-out west of previous intercepts, achieved a strong, broad, visual intercept, a photo of which has been posted to the website. This hole was drilled to the south below the glacial debris in the adjacent valley south and west of the Saddle South core area. The intercepts in hole TTD051 confirm that mineralization continues west below the valley bottom, which is supported by intercepts achieved in multiple other holes drilled between it and the Saddle South core area. This could represent a significant enlargement of the Saddle South discovery.
  • Saddle South east step-outs: Saddle South holes TTD059 and TTD061 (plan view, attached, assays pending), were drilled 250 and 500 metres respectively east of previous intercepts. These were designed to test geochemical/geophysical anomalies along the main Saddle South E-W structural corridor. Both holes achieved visual+XRF intercepts, with visible gold seen in hole TTD059. The intercepts in hole TTD051 (far west) and TTD061 (far east) extend the known strike length of the mineralized structural panel at Saddle South to over 1,000 metres east-west.

  1. Strong new mineralized intercepts at the very large-scale Saddle North target, enhancing the high-grade epithermal potential and suggesting discovery potential for a large-scale copper-gold porphyry
  • Four new reconnaissance holes (TTD057, 062, 063, 064 - plan view, attached, assays pending) for 1,116 metres have been completed, testing along 1.7 km of the 2.4 km long Saddle North IP anomaly. Saddle North is anchored toward its east end by a very large, intense, IP high that is coincident with an airborne magnetic high. The northwestern arm of this anomaly has recently been demonstrated (holes TTD011, TTD012, NR Sept 18, 2017) to carry a Cu-Au porphyry signature apparently overprinted by high-grade epithermal-style gold;
  • TTD062 was drilled into the large IP "anchor" portion of the target to a total depth of 234 metres. Visual inspection of core shows encouraging veining and alteration including magnetite and chalcopyrite in veins and local disseminations, suggestive of the presence of the higher-temperature part of a porphyry system. Assays are pending;
  • TTD057, drilled below the Saddle North gold-in-soil anomaly, intercepted visually strong "Saddle South style" epithermal mineralization (see photo, website). Assays are pending.

Maps of drill hole locations and drill sections are included below. The same images, along with photos of core, camp and drill sites, can be obtained from the "Downloads" portion of the Company's homepage (scroll down, left) at http://www.gtgoldcorp.ca/.

Comments:

"Saddle is looking better and better the more we get into it," says Kevin Keough, President & CEO. "It's a rich, high-grade system. Continuity is excellent and, based on what we've seen in late program core - including intense chalcopyrite enrichment supported by high XRF readings for an array of gold pathfinders - it has the potential to generate very high grades even beyond what we've witnessed to date. Possibly the best is yet to come. We hit almost anywhere we choose to point the drills and, as a result, we've achieved rapid discovery expansion. Coupled with the consistency of our results - high grades, strong widths and continuity - we're highly encouraged."

"As the much-expanded 2017 Saddle drill campaign comes to a close, we are genuinely excited by the progress and prospects for Saddle and the wider Tatogga property," says Charlie Greig, VP Exploration. "This is unquestionably one of the more significant new gold discoveries to emerge in B.C. in recent years. While our outstanding results at Saddle South are the most exciting on the property to date, our first holes into the large Saddle North system have also yielded what appear to be excellent intersections in what is clearly a robust mineralizing system, and a system with likely porphyry-style elements.

In addition, our increasing knowledge of these mineralizing systems, and particularly of their expression in geology and gold pathfinder element geochemistry, has resulted in renewed interest in other mineralized areas on the property, in particular the extensive Quash-Pass system, which lies approximately 6-8 km to the south of the Saddle area. With an excellent crew of (mostly) young geologists, excellent recent results, and many forthcoming high-potential assays, we're looking forward to the immediate future, analyzing what we have and leveraging the knowledge we've gained during the 2017 season, in planning for 2018."

Table 1 - Saddle Diamond Drill Program Assay Results: Significant intercepts for 17 diamond drill holes, arranged by drill section (see plan view map) are reported below. All 17 holes were drilled into the Saddle South target, located as shown on the accompanying plan and section views. Assays for pending holes will be made public, multiple holes per release, following receipt, QA/QC, and interpretation. Note: widths reported below are drilled core lengths. True widths are estimated to be approximately 90% of drilled lengths for minus 45-degree holes, 70% for minus 70-degree holes, and about 50% for minus 85-degree holes. All assays are performed by ALS Canada Ltd., with sample preparation carried out at the ALS facility in Terrace, BC, and assays at the North Vancouver laboratory. Assay values are uncut. Assay results presented below are fire assay results only. For gold, fire assays are performed as per ALS protocol Au-AA26 (0.01-100.00 g/t Au) using 50 grams of sample with assays equal to or greater than 5 g/t Au calculated gravimetrically, and lower-grade samples measured by (AA) atomic absorption.

Refer to drilling plan view map for location of sections

Section 688mE (Saddle South)
Hole ID Az Dip Zone From
(m)
To
(m)
Intercept
(m)
Au
(g/t)
Ag
(g/t)
Comments
TTD029 180 -45
Zone 71.75 72.45 0.70 22.20 4.10 First south azimuth hole to test below glacial till in valley south and west of Saddle South core area
Zone 129.58 133.23 3.65 5.86 63.22
Inc. 131.00 132.43 1.43 11.44 115.71
Zone 140.60 141.77 1.17 11.78 23.25
TTD031 0 -70
Zone 109.25 112.61 3.36 48.85 8.97
Inc. 109.25 109.79 0.54 220.00 36.80
And 111.65 112.61 0.96 46.70 10.00
Zone 143.10 144.00 0.90 17.10 19.80
Zone 221.79 225.29 3.50 5.30 2.82
Inc. 222.74 223.92 1.18 11.70 6.02
Zone 244.17 246.00 1.83 10.66 1.82
Inc. 244.17 245.00 0.83 21.10 3.70
Section 720mE (Saddle South)
Hole ID Az Dip Zone From
(m)
To
(m)
Intercept
(m)
Au
(g/t)
Ag
(g/t)
Comments
TTD013 0 -45
Zone 76.00 156.00 80.00 0.61 0.71 Holes TTD014 and 016 from this pad previously reported
Inc. 102.89 107.00 4.11 8.35 4.71
Inc. 105.00 107.00 2.00 14.86 7.50
Inc. 105.00 106.11 1.11 17.60 9.90
TTD015 0 -85
Zone 19.58 59.17 39.59 1.14 2.58
Section 763mE (Saddle South)
Hole ID Az Dip Zone From
(m)
To
(m)
Intercept
(m)
Au
(g/t)
Ag
(g/t)
Comments
TTD030 0 -45
Zone 34.34 34.95 0.61 28.40 3.50 100 metre step-back on TTD007-008-009-010
Zone 146.00 147.00 1.00 7.91 16.90
Zone 181.43 184.97 3.54 4.04 2.63
Inc. 181.43 181.90 0.47 8.51 4.60
Zone 189.27 189.87 0.60 13.05 9.90
Section 800mE (Saddle South)
Hole ID Az Dip Zone From
(m)
To
(m)
Intercept
(m)
Au
(g/t)
Ag
(g/t)
Comments
TTD017 0 -45
Zone 28.85 140.65 111.80 0.46 2.09 Same pad as holes TTD018, 019, 020, below
Zone 107.60 108.66 1.06 6.71 138.00
Zone 126.56 127.55 0.99 7.38 5.60
TTD018 0 -65
Zone 32.11 33.52 1.41 8.78 21.45
Inc. 32.11 32.78 0.67 16.84 41.39
Zone 86.13 88.68 2.55 6.89 8.40
Inc. 87.00 87.56 0.56 17.10 19.00
Zone 127.00 132.00 5.00 6.24 15.24
Inc. 129.50 130.86 1.36 10.94 24.53
TTD019 0 -75
Zone 21.00 24.00 3.00 4.93 4.80
Zone 32.59 33.37 0.78 18.45 29.00
Zone 75.00 87.15 12.15 14.75 36.23
Inc. 82.00 85.16 3.16 24.34 55.40
Inc. 83.00 84.00 1.00 30.10 86.00
TTD020 0 -85
Zone 63.60 64.42 0.82 16.75 10.30
Zone 77.20 78.17 0.97 10.90 37.10
Zone 187.00 188.00 1.00 5.72 1.10
Section 855mE (Saddle South)
Hole ID Az Dip Zone From
(m)
To
(m)
Intercept
(m)
Au
(g/t)
Ag
(g/t)
Comments
TTD024 0 -45
Zone 15.00 121.15 102.36 1.26 2.83 Same pad as holes TTD026 and 027, below
Inc. 43.56 48.00 4.44 12.37 15.40
Inc. 43.56 46.73 3.17 16.75 21.18
Inc. 43.56 45.00 1.44 28.40 33.76
And 70.05 73.08 3.03 13.65 58.29
Inc. 71.05 73.08 2.03 16.52 74.40
Inc. 72.56 73.08 0.52 21.40 94.80
TTD026 0 -65
Zone 44.53 46.23 1.70 14.09 102.61
Inc. 45.54 46.23 0.69 34.40 246.00
Zone 63.61 65.50 1.89 6.74 76.51
Zone 154.82 157.73 2.91 16.07 65.67
Inc. 156.11 157.73 1.62 26.58 115.16
Inc. 156.11 156.58 0.47 84.70 371.00
TTD027 0 -85 No significant intercepts
Section 950mE (Saddle South)
Hole ID Az Dip Zone From
(m)
To
(m)
Intercept
(m)
Au
(g/t)
Ag
(g/t)
Comments
TTD023 0 -45 Zone 35.24 36.00 0.76 8.97 6.60 Hole TTD059 (assays pending) located ~250 m east of this section has intercepted mineralization (VG)
TTD025 0 -65 No significant intercepts
TTD028 0 -85 No significant intercepts
Off-Azimuth Holes (Saddle South) (Note: pad located approx. on section 800mE with TTD030, but holes drilled southwest azimuth)
Hole ID Az Dip Zone From
(m)
To
(m)
Intercept
(m)
Au
(g/t)
Ag
(g/t)
Comments
TTD021 225 -45 Off-azimuth hole, drilled SW across zone to test orientation. No significant intercepts
TTD022 225 -69 Off-azimuth hole, undercut to TTD021 to test zone orientation
Zone 121.00 128.00 7.00 13.22 15.18
Inc. 121.71 126.00 4.29 20.59 23.08
Inc. 124.50 126.00 1.50 30.10 30.00
Zone 137.15 141.22 4.07 6.83 8.98
Inc. 137.15 137.75 0.60 18.70 14.50
And 139.19 139.84 0.65 13.05 18.40
And 140.73 141.22 0.49 15.95 30.20
Zone 155.25 156.00 0.75 10.51 0.25

QA/QC Procedures

GT Gold has implemented a rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling and analysis of RC chips and diamond drill core, the details of which can be viewed on the Company's website at http://www.gtgoldcorp.ca/projects/tatogga/.

Charles J. Greig, M.Sc., P.Geo., Vice President, Exploration for GT Gold and the Company's Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement Regarding Forward Looking Statements

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward-looking statements involve risks, uncertainties and other factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

To view the maps associated with this press release, please visit the following link: http://media3.marketwire.com/docs/Maps_GTT.pdf

Contact Information

  • GT Gold Corp.
    Kevin M. Keough
    President and Chief Executive Officer
    (613) 832-4592

    GT Gold Corp.
    Charles J. Greig
    Vice President, Exploration
    (250) 492-2331
    www.gtgoldcorp.ca