GT Gold Corp.
TSX VENTURE : GTT

GT Gold Corp.

December 13, 2016 08:30 ET

GT Gold's Saddle Target Continues to Deliver Outstanding Gold-in-Soil Values Within a Broad, Cohesive Anomaly

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 13, 2016) - GT Gold Corp. (TSX VENTURE:GTT). Assay results have now been received for 22 remaining soil samples from a line of 33 collected in August this year over the Company's Saddle South gold target on the Tatogga property in northwestern British Columbia, Canada. Assays for 11 of the 33 samples were reported earlier (see Nov. 30, 2016 news release and Table 2, below). Results for an additional 265 soil samples collected in October this year from a 25X25 metre grid in the area of the August sampling have also been received. Assays from both programs closely compare statistically with those of two previous soil sampling programs carried out over Saddle by GT Gold subsidiary, New Chris Minerals in 2013 and 2014. Datasets for all programs have therefore been combined and modeled, allowing for a greatly improved understanding of the Saddle South anomaly. The results continue to impress for their remarkable tenor and continuity. Saddle is an entirely new prospect and has never been drilled. It represents among the more promising untested gold targets in B.C.'s renowned Golden Triangle.

The Saddle South anomaly presently spans at least 1.5 kms in an east-west direction and, as shown on the accompanying maps (HTTP://MEDIA3.MARKETWIRE.COM/DOCS/GTGOLD-DEC13-MAPS.PDF), contains an irregular core of very high gold-in-soil values as defined by contoured values exceeding 500 ppb (0.5 g/t) Au. Excluding a lobe of high gold-in-soil values in the eastern reaches of the anomaly, the core zone spans a distance of approximately 300 metres E-W by 225 metres N-S, and it remains open to the west under cover. This core of very high gold-in-soil values is itself encompassed by a considerably larger anomaly of lower tenor but still excellent values, as evidenced by the +100 ppb (0.1 g/t) Au contour on the accompanying figures. The +100 ppb Au anomaly remains open to both east and west within the 1.5 km-long Saddle South trend.

Excluding the eastern lobe of high gold-in-soil values, a total of 58 samples from all soil sampling programs (2013, 2014, 2016) fall within the core area of the +500 ppb (0.5 g/t) Au contour. The assays for these 58 samples have returned an average value in soils of 7.43 grams per tonne Au (0.22 ounces per ton). The median soil assay falls between 1.61 and 1.80 g/t Au. 33 of the 58 samples (57%) returned assays greater than 1 g/t Au. 11 of the 58 samples (19%) returned assays greater than 10 g/t Au.

The Saddle gold anomalies appear as separate and sub-parallel WNW trending anomalies covering at least 1.5 kilometres (Saddle South) and 1 kilometre (Saddle North) along trend. The sampled part of the Saddle South anomaly occupies a largely moss and grass covered, saddle-shaped upland ridge and tableland with very little outcrop. Where parts of the anomalous zones do outcrop, veining and alteration are generally subtle, although a number of high gold values were returned from grab samples of rusty-weathering quartz-sericite-pyrite altered volcanic host rocks. For these reasons the Saddle gold anomalies were likely overlooked by early prospectors and geologists in the region.

Commenting on the results, Charlie Greig, Vice President, Exploration, states, "These latest results confirm we have a large core of exceptionally high soils surrounded by a broad area of excellent values. We also see some considerable breadth in the north-south direction where the highest values occur, giving us a couple of beautiful bullseyes to point a drill at. Because local pyritization of the host rocks in part corresponds with high Au values in soils, we feel that IP surveying stands an excellent chance of outlining other high-priority targets. Both Saddle zone anomalies are broad and very much continuous, but they are not generally well-exposed - geophysics and drilling will be integral tools in future exploration at Saddle."

Kevin Keough, President & CEO, adds, "Saddle is really shaping up nicely. We're formulating our plans for next year's exploration season and, following some initial geophysics we anticipate a significant drill program. We're hoping we're near the top of a largely preserved system, and are very much looking forward to being the first to drill Saddle."

Details of Previous Soil Sampling Programs

Soil sampling programs were conducted at Saddle in 2013, 2014 and 2016 respectively. During 2013 a reconnaissance survey of 879 soil samples was undertaken over the broader Saddle valley area, including the Saddle South target, along lines spaced approximately 400 metres apart, with 50 metres between sample sites. In 2014 an in-fill sampling program (939 samples) was undertaken over the anomalous area delimited in 2013 at Saddle North and South with line spacing ranging from 50 to 100 metres, and sample spacing ranging from 25 to 50 metres. In August 2016, a total of 33 sequential soil samples were collected from the Saddle South target. However, only 11 of the 33 samples taken were initially assayed, the results of which were released on November 30, 2016. 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 more than 300 metres the western part of the Saddle South anomaly. A further 265 soil samples were collected in October 2016 on a 25X25 metre grid over the immediate area of the August sampling.

Table 1: Results for All Samples From 2013, 2014, 2016 Programs Falling Within the +500 ppb (0.5 g/t) Au Contour (dark purple on accompanying maps - (HTTP://MEDIA3.MARKETWIRE.COM/DOCS/GTGOLD-DEC13-MAPS.PDF)

Soil Sample
No.
Year Collected Au
(g/t)
Au
(opt)
H215756 2013 1.80 0.05
H215757 2013 0.60 0.02
Q345233 2013 0.53 0.02
H104293 2014 3.50 0.10
H104294 2014 2.50 0.07
H104299 2014 0.69 0.02
H104300 2014 0.56 0.02
H104379 2014 0.83 0.02
H104436 2014 0.50 0.01
H104445 2014 3.40 0.10
H104471 2014 0.51 0.01
H104476 2014 2.00 0.06
R268035 2014 0.60 0.02
R268035 2014 0.60 0.02
R268047 2014 0.76 0.02
R268108 2014 0.58 0.02
R268110 2014 1.80 0.05
R269407 2014 4.60 0.13
R269408 2014 5.40 0.16
R269409 2014 0.51 0.01
R269468 2014 4.50 0.13
R269469 2014 0.83 0.02
R269470 2014 2.00 0.06
R269474 2014 0.66 0.02
R269475 2014 5.60 0.16
R269476 2014 6.40 0.19
AG012 2016 0.57 0.02
AG017 2016 0.52 0.02
AG019 2016 1.61 0.05
AG020 2016 0.58 0.02
MD314 2016 20.20 0.59
MD315 2016 1.32 0.04
MD316 2016 2.86 0.08
MD317 2016 0.52 0.02
MD325 2016 0.68 0.02
MD327 2016 3.49 0.10
MGTG16D008 2016 2.15 0.06
MGTG16D009 2016 5.31 0.15
MGTG16D010 2016 11.75 0.34
MGTG16D011 2016 13.30 0.39
MGTG16D012 2016 14.75 0.43
MGTG16D013 2016 48.90 1.43
MGTG16D014 2016 1.44 0.04
MGTG16D015 2016 19.15 0.56
MGTG16D016 2016 0.66 0.02
MGTG16D023 2016 0.59 0.02
MGTG16D024 2016 72.30 2.11
MGTG16D025 2016 69.50 2.03
MGTG16D026 2016 40.60 1.18
MGTG16D027 2016 3.00 0.09
MGTG16D030 2016 0.71 0.02
SR006 2016 6.20 0.18
SR008 2016 11.75 0.34
SR015 2016 0.65 0.02
SR016 2016 20.70 0.60
SR017 2016 1.14 0.03
SR018 2016 0.98 0.03
SR025 2016 0.94 0.03
Averages 7.43 0.22

Table 2: Results for Line of 33 August 2016 Soils:

Soil Sample
No.
Au
(g/t)
Au
(opt)
Comments
MGTG16D001 6.13 0.18
MGTG16D002 0.19 0.01
MGTG16D003 0.09 0.00
MGTG16D004 0.05 0.00
MGTG16D005 0.03 0.00
MGTG16D006 0.22 0.01
MGTG16D007 0.30 0.01
MGTG16D008 2.15 0.06
MGTG16D009 5.31 0.16 Previously released
MGTG16D010 11.75 0.34 Previously released
MGTG16D011 13.30 0.39 Previously released
MGTG16D012 14.75 0.43 Previously released
MGTG16D013 48.90 1.43 Previously released
MGTG16D014 1.44 0.04 Previously released
MGTG16D015 19.15 0.56 Previously released
MGTG16D016 0.66 0.02
MGTG16D017 0.49 0.01
MGTG16D018 0.36 0.01
MGTG16D019 0.14 0.00
MGTG16D020 0.41 0.01
MGTG16D021 0.43 0.01
MGTG16D022 0.33 0.01
MGTG16D023 0.59 0.02
MGTG16D024 72.30 2.11 Previously released
MGTG16D025 69.50 2.03 Previously released
MGTG16D026 40.60 1.18 Previously released
MGTG16D027 3.00 0.09 Previously released
MGTG16D028 0.18 0.01
MGTG16D029 0.35 0.01
MGTG16D030 0.71 0.02
MGTG16D031 0.21 0.01
MGTG16D032 0.12 0.00
MGTG16D033 0.03 0.00

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. Samples that returned initial over-limits (>1.0 ppm), and subsequent 50 gram sample splits were fire assayed, with an Atomic Absorption finish.

Charles 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