GT Gold Corp.
TSX VENTURE : GTT

GT Gold Corp.

December 04, 2017 07:00 ET

GT Gold Continues to Drill Multiple High-Grade Intercepts at Saddle South, Intersecting 12.05 g/t Au Over 3.79 Metres and 9.77 g/t Au Over 5.53 Metres in Hole TTD045

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 4, 2017) - GT Gold Corp. ("GT Gold" or the "Company") (TSX VENTURE:GTT) is pleased to report continued high-grade assays from drilling at its Saddle gold discovery, located on the Company's 100%-owned Tatogga property in northwestern British Columbia, Canada. Results for 6 Saddle South core holes are reported in this news release, highlighted by holes TTD045 and its four undercuts TTD047, 048, 050 and 052, which achieved multiple high-grade intercepts as detailed in Table 1 below. Assays for an additional 13 core holes (9 from Saddle South, 4 from Saddle North) are pending.

Holes TTD045, 47, 48, 50 and 52 were step-backs drilled to the north from the same pad, located roughly 60 metres south of the initial fence of core holes at Saddle South. The holes targeted mineralization within volumes previously tested by holes TTD013, 014, 015 and 016, and down-dip potential below these earlier intercepts, which included 14.86 g/t Au over 2.00 metres from 105.00 metres in TTD013 (news, Oct. 16), and 7.51 g/t Au over 9.09 metres from 23.52 metres in TTD016.

Highlights include:

Hole TTD045:

  • 12.05 g/t Au over 3.79 metres from 144.41 metres
    • Including 35.15 g/t Au over 1.04 metres
  • 9.77g/t Au over 5.53 metres from 183.15 metres
    • Including 20.17 g/t Au over 2.31 metres

Hole TTD050:

  • 6.12 g/t Au over 7.00 metres from 125.00 metres
    • Including 18.55 g/t Au over 1.18 metres

"We continue to be impressed by the strength of the mineralized system at Saddle South," says Kevin Keough, President and CEO. "Again we've achieved numerous high-grade intercepts highlighting excellent continuity to depth. With every set of assays we receive we continue to learn more about the system and its potential."

Table 1 - Saddle South Diamond Drill Program Assay Results: Refer to drilling plan views for location of holes.

Hole Number From
(m)
To
(m)
Interval
(m)
Uncut Grade
g/t
Au
Uncut Grade
g/t
Ag
Comments Zone
TTD045 133.00 136.16 3.16 7.30 - Step-back Saddle South
Including 135.00 136.16 1.16 17.85 -
And 144.41 148.20 3.79 12.05 -
Including 145.08 146.12 1.04 35.15 15.13
And 168.00 174.34 6.34 3.60 -
Including 168.00 169.24 1.24 10.60 -
And 183.15 188.68 5.53 9.77 -
Including 183.15 185.46 2.31 20.17 12.59
TTD047 20.00 20.78 0.78 6.03 - Undercut to 045 Saddle South
And 80.30 86.84 6.54 2.50 -
Including 81.17 82.14 0.97 6.59 11.10
And including 86.38 86.84 0.46 11.55 -
And 209.43 210.00 0.57 28.60 44.30
TTD048 73.28 74.71 1.43 14.50 - Undercut to 047 Saddle South
And 85.53 86.13 0.60 3.96 -
And 167.74 170.58 2.84 2.56 -
Including 167.74 168.25 0.51 7.59 -
And 193.95 194.34 0.39 15.15 23.80
TTD049 75.97 77.67 1.70 2.18 - West step-out Saddle South
And 120.33 126.43 6.10 4.84 -
Including 121.92 122.42 0.50 9.45 -
And including 123.85 126.43 2.58 7.61 -
Including 124.92 125.69 0.77 13.80 -
And 135.76 138.72 2.96 4.92 -
Including 136.82 137.90 1.08 9.75 -
And 142.88 145.19 2.31 4.05 -
And 189.42 191.07 1.65 13.53 -
Including 190.20 191.07 0.87 22.70 -
TTD050 114.73 116.30 1.57 2.46 - Undercut to 048 Saddle South
Including 116.09 116.30 0.21 11.65 -
And 125.00 132.00 7.00 6.12
Including 127.75 128.93 1.18 18.55 -
And including 131.55 132.00 0.45 18.20 12.20
And 150.59 151.80 1.21 9.19 -
Including 150.59 151.11 0.52 12.50 -
And 171.00 171.95 0.95 5.13 -
And 204.35 214.57 10.22 2.08 10.50
Including 204.35 205.22 0.87 6.33 -
And 247.86 248.53 0.67 5.77 -
TTD052 136.00 138.79 2.79 2.97 - Undercut to 050 Saddle South
Including 138.25 138.79 0.54 9.38 -
And 362.05 362.50 0.45 10.10 -

Significant intercepts for 6 diamond drill holes, arranged by hole number (see two plan views and two cross-sections) are reported above. Widths reported 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.

Table 2 - Saddle South Diamond Drill Hole Details: Key information for the above 6 diamond drill holes, arranged by hole number, is reported below. Refer to drilling plan views for location of holes and sections.

Hole Number Azimuth(degrees) Dip
(degrees)
Elevation
(m)
Length
(m)
UTM E UTM N Section
TTD045 0 -45 1651 222.00 433714 6408127 715
TTD047 0 -55 1651 234.00 433714 6408127 715
TTD048 0 -68 1651 282.00 433714 6408127 715
TTD049 180 -80 1629 309.00 433590 6408270 590
TTD050 0 -75 1651 297.00 433714 6408127 715
TTD052 0 -85 1651 405.00 433714 6408127 715

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 on Individual Drillholes:

Hole TTD045, a minus 45 degree, north-drilling, roughly 60-metre step-back on the first fence of core holes at Saddle South, targeted mineralization within volumes previously tested by TTD014, 15 and 16 (news releases Sept. 18 and Oct. 16). In the interval from about 135 to 187 metres down-hole, four distinct zones of high grade (>10 g/t Au) were intercepted, within a broader lower grade mineralized envelope.

Hole TTD047, a minus 55 degree undercut to TTD045, returned anomalous (<0.1 g/t Au) to very low grade (0.1 to 1 g/t Au) results for much of its length, with occasional low (1-3 g/t Au) to moderate (3-10 g/t Au) values, and two isolated highs (>10 g/t Au).

Hole TTD048, a minus 68 degree undercut to TTD047 and 045, returned scattered moderate (3-10 g/t Au), low (1-3 g/t Au) and very low (0.1 to 1 g/t Au) grade assays and a single high grade (>10 g/t Au) value in the interval from surface to about 100 metres down-hole and, thereafter, a cluster of stronger values at approx. 167 metres downhole. An isolated high-grade intercept occurred at 194 metres downhole.

Hole TTD049, a minus 85 degree, south-drilling west step-out drilled beneath holes TTD044 and 046 (news release, Nov. 20) returned multiple narrow moderate (3-10 g/t Au) to high (>10 g/t Au) grade intervals, starting at about 120 metres down hole and running to 190 metres, within a broader 140 metre interval of anomalous (<0.1 g/t Au) to low grade (1-3 g/t Au) values.

Hole TTD050, a minus 75 degree, north-drilling undercut to TTD048, 047 and 045, intercepted a broad zone from approximately 110 to 230 metres down-hole. This zone encompassed five generally higher-order sub-intervals with values ranging from high grade (>10 g/t Au) down to very low grade (0.1 to 1 g/t Au).

Hole TTD052, a minus 85 degree undercut to TTD050, returned generally very low grade (0.1 to 1 g/t Au) scattered values, interspersed with local low grade (1-3 g/t Au) results. The most coherent zone of generally stronger values was in the range of 131-139 metres.

About Saddle South

The Saddle South discovery is located in B.C.'s Golden Triangle, within 10 kilometres of paved highway 37 and a similar distance from grid power. Mineralization is of transitional low sulphidation epithermal type, with higher-grade sections characterized by semi-massive to massive quartz-carbonate sulphide veins and vein breccias dominated by pyrite with subordinated sphalerite, galena, chalcopyrite and local sulphosalts. The mineralized zones follow a steeply dipping, east-west trending structure with intersecting northwest-southeast structural elements. Host rocks consist of fragmental volcanic and volcaniclastic rocks of the Lower Jurassic Hazelton Group.

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/.

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.

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 Figure 1, please visit the following link: http://media3.marketwire.com/docs/1105605_NRPlan.pdf

To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/1105605_V2.pdf

To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/1105605_XS590.pdf

To view Figure 4, please visit the following link: http://media3.marketwire.com/docs/1105605_XS715.pdf

Contact Information

  • GT Gold Corp.
    Kevin M. Keough
    President and Chief Executive Officer
    (613) 832-4592
    Website: www.gtgoldcorp.ca

    GT Gold Corp.
    Charles J. Greig, P.Geo
    Vice President, Exploration
    (250) 492-2331