GT Gold Corp.
TSX VENTURE : GTT

GT Gold Corp.

November 30, 2016 08:30 ET

GT Gold's Saddle Gold Target Delivers Outstanding Gold-in-Soil Values

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 30, 2016) - GT Gold Corp. (TSX VENTURE:GTT) is pleased to report assays from an initial 11 of a total of 33 sequential soil samples collected in August this year from the company's Saddle gold target located on the Tatogga property in northwestern British Columbia, Canada. Only 11 of the 33 samples taken in August were initially assayed. Results for the remaining 22 soil samples, in addition to several hundred additional soil samples taken in October, are expected prior to December 10th.

The August sampling was carried out at roughly ten metre intervals in a single line along a subtle east-west topographic low, possibly reflecting a buried structure, which transects for some 300 metres the western part of the Saddle South anomaly. The 11 assayed soil samples have returned an average value in soils of 0.80 ounces per short ton Au or 27.30 grams per metric tonne Au. The median soil assay is 14.75 g/t Au. A complete table of the soil assay results is presented below.

The Saddle South anomaly is an entirely new prospect and has never been drilled. It represents among the more promising untested gold targets in B.C.'s Golden Triangle. The Saddle anomalies were first identified in previous programs conducted by GT Gold's wholly owned subsidiary, New Chris Minerals Ltd., in 2013 and 2014. They appear as separate and sub-parallel WNW trending anomalies that at present cover at least 1.5 kilometres (Saddle South) and 1 kilometre (Saddle North).

The sampled part of the Saddle South anomaly occupies a largely moss covered, saddle-shaped upland ridge with very little outcrop. Where parts of the anomalous zones do outcrop, veining and alteration are subtle and not overly apparent. For these reasons the Saddle gold anomalies were missed by early prospectors and geologists in the region.

In follow up to the August sampling results, a further 265 soil samples were collected in early October on a 25 X 25 metre grid covering the immediate area where the reported samples were collected. The follow-up program was undertaken after the first snowfall of winter, just prior to shutting the program down for the season. These samples are currently being processed and results will be released when available.

Reporting on the present results, Charlie Greig, GT Gold's Vice President, Exploration, stated "These are exceptionally high soil geochemical samples. Typically a soil sample grade of 100 ppb (0.1 g/t) Au is noteworthy. Our low from these samples is 1500 ppb (1.5 g/t) Au. Pending results of the 265 samples yet to come, we hope we'll ultimately have a core of exceptionally high tenor soils surrounded by an WNW linear trend of what would normally be considered excellent values. We may be just getting a peek at this system."

Commenting further, Kevin Keough, President & CEO, stated, "Starting with the early work in 2013 and 2014, the team has done a great job developing this initial target to near drill-ready status. Our plan is to get back as soon as the weather allows, complete ground based IP over the target area, then put a drill on the ground. We could well be near the top of an intact system - relatively uneroded and covered just enough that the old timers didn't find it."

Table of Results (see accompanying map for location of sample sites): http://media3.marketwire.com/docs/Soil_samples_Orthophoto.pdf

Sample
No.
Assay
Grams per Tonne
Assay
Ounces per Ton
TG16D009 5.57 0.16
TG16D010 11.75 0.34
TG16D011 13.30 0.39
TG16D012 14.75 0.43
TG16D013 48.90 1.43
TG16D014 1.44 0.04
TG16D015 19.15 0.56
TG16D024 72.30 2.11
TG16D025 69.50 2.03
TG16D026 40.60 1.18
TG16D027 3.00 0.09
Average 27.30 g/t 0.80 opt

Quality Assurance and Quality Control

GT Gold Corp. maintains strict QA/QC protocols for all aspects of its exploration programs. This includes the systematic insertion of blanks and standards into each sample batch. Soil samples were collected in individually labeled kraft paper bags, packed in sealed plastic bags, and shipped by transport in sealed woven plastic bags (rice bags) to ALS Minerals laboratory facilities in North Vancouver. All samples reported in this release were first analyzed by ALS Minerals using a certified and industry-standard multi-element geochemical package for gold and other elements on a 50 gram split. All samples returned initial over-limits (>1.0 ppm), and subsequent 30 gram sample splits were fire assayed, with an Atomic Absorption finish.

Charlies J. Greig, M.Sc., P.Geo., Vice President, Exploration for GT Gold Corp. and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this press release.

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

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

Contact Information

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

    GT Gold Corp.
    Charles J. Greig
    Vice President, Exploration
    250 492-2331