GT Gold Corp.
TSX VENTURE : GTT

GT Gold Corp.

September 18, 2017 08:30 ET

Saddle South Gold Discovery Expands to 500 M Down-Dip With Multiple Broad, Strong Intercepts, New High-Grade Trend Identified; Saddle North Reconnaissance Returns First High-Grade Drill Intercept

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 18, 2017) - GT Gold Corp. ("GT Gold" or the "Company") (TSX VENTURE:GTT). GT Gold is pleased to provide the following report and assays from ongoing drilling at the Saddle gold discovery, located approximately 10 kilometres off highway 37 on the Company's Tatogga property in northwestern British Columbia, Canada:

  • Saddle South continues to exhibit the key hallmarks of a significant discovery - high grades with the added benefit of broad, underground-style halos of mineralization, strong widths and zone continuity. This includes:

    • aggregate estimated true widths of the significant intercepts announced for all Saddle South core holes reported to date averages 11.12 metres per hole with a corresponding average grade of 11.77 g/t Au

    • The broadest underground-style intercept of the program to date, 20.71 metres of 5.84 g/t Au (estimated true width 75%) from 161.29 m to 182.00 m in core hole TTD014
      • including 11.00 m of 8.69 g/t Au from 167.00 m to 178.00 m
      • including 3.80 m of 13.63 g/t Au from 174.0 m to 178.00 m

    • 23.66 metres of 5.10 g/t Au from 53.56 m to 77.22 m in TTD010
      • including 10.22 m of 8.46 g/t Au from 67.00 m to 77.22 m
      • including 3.75 m of 16.38 g/t Au from 73.47 m to 77.22 m

    • 9.09 metres of 7.51 g/t Au and 37.22 g/t Ag from 23.52 m to 32.61 m in TTD016
      • including 4.23 m of 12.63 g/t Au and 76.01 g/t Ag from 23.52 m to 27.75 m
      • including 2.25 m of 15.59 g/t Au and 118.64 g/t Ag from 24.50 m to 26.75 m

  • Intercepts have now been achieved to 500 metres down-dip from surface (TTD038), a significant increase from the 330 metres down-dip reported earlier (August 31st NR). Drilling has also extended the strike length to 360 metres east-west and further extension is anticipated. The discovery remains open east, west and to depth;

  • New high-grade "Bond Zone" trend identified encompassing previously released Saddle South hole TTD007 (51.53g/t Au & 117.38g/t Ag over 6.95 m), adding considerable new discovery potential;

  • Continuing strong visuals in most holes, supported by XRF for key gold pathfinder elements;

  • 50 core holes totaling 11,962 metres drilled to date at Saddle South, 14 reported, with assays for 36 core holes pending;

  • Expansion drilling is ongoing with two drills and will continue as long as weather allows;

  • First-ever high-grade gold intercept achieved at Saddle North, 10.93 g/t Au over 1.71 m (near true width) from 190.43 to 192.14 metres in TTD012 and, 440 metres farther east on the same large IP target, an encouraging intercept in TTD011: 7.62 g/t Au over 0.80 metres from 86.00 m to 86.80 m. Importantly, TTD011 stopped short of target due to ground conditions and did not actually penetrate the targeted intense IP high. A follow-up hole is therefore pending;

  • Additional program of ground-based IP extends large Saddle North target eastward, to now encompass 2.4 kms of strike length (image follows).

An updated plan view map of drill hole locations, along with drill sections, is 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: www.gtgoldcorp.ca.

Comments, CEO:

"At Saddle South we continue to be rewarded with strong visuals supported by XRF in almost all holes, and we've now pushed intercepts to 500 metres down-dip from surface, and 350 metres along strike," says Kevin Keough, President and CEO. "We anticipate being able to continue extending the known limits of the discovery, the more so given the field team's identification of the new high-grade "Bond Zone" trend, discussed by VP Exploration Charlie Greig, below. Intercept widths and grades are strong, and zone continuity is great. The widths we're seeing in holes TTD010, 014, and 016, carrying strong to high grades, generally fall into the category of "underground style" - that is, more than 5 grams per tonne gold over multi-metre true widths. Seeing these broad intercepts of strong grade is especially exciting, as it will facilitate the process of linking up mineralization hole-to-hole, and promote future developmental efficiencies.

As for Saddle North, reconnaissance holes TTD011 and TTD012 are really our first attempts at what constitutes a massive IP target. Now that we've confirmed it's gold-bearing we plan to get back on to it with more drilling late this month or early next. Because it's topographically lower than Saddle South, our thinking is to carry out work at Saddle North when the weather forces us off Saddle Ridge.

Comments, VP Exploration:

"Our understanding of the Saddle South system continues to evolve as we gather more and more data from the drill campaign. Most important is the fact we've been able to successfully intersect gold mineralization time and again, including high-grade chalcopyrite-rich vein mineralization similar to that intersected in drillhole 007 (TTD007). These intercepts collectively are now referred to as the 'Bond Zone,' which may represent gently-to-moderately northwest-raking shoots within a northwest-trending structure", states Charles Greig, Vice President, Exploration. "Certainly, our initial modelling of this trend indicates improved continuity among drillhole intercepts. Further testing of this zone and these trends is ongoing, and may prove key to better understanding continuity between mineralized intercepts at Saddle South.

Possibly related to this is the fact that some of the thicker veins at depth within the main mineralized zones, particularly to the west, have a higher proportion of carbonate than in the shallower and more sulphide-rich holes to the east, and yet they continue to carry significant grade. This may indicate that they lie along trends separate from the apparent E-W trend which crosses Saddle Ridge. Furthermore, we are also evaluating several large, intriguing lows in our magnetic data, which may point toward new targets, and we may test one or two of these in the weeks ahead, depending on weather conditions at site."

Assay Results

Significant intercepts (generally, any intercepts >5 grams per tonne Au over >1 metre) for four Saddle South core holes TTD009 and TTD010 (pad #3), and TTD014 and TTD016 (pad #4), which were drilled from two pads separated by about 50 metres, are presented below, along with assays for two Saddle North core holes TTD011 and TTD012. Assays for pending holes will be made public, multiple holes per release, following receipt, QA/QC, and interpretation.

Table 1 - Saddle Diamond Drill Program Assay Results: 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.

Saddle South Diamond Drill Program Assay Results
Hole ID Az Dip Zone From
(m)
To
(m)
Intercept
(m)
Au
(g/t)
Ag
(g/t)
Comments
TTD009 0 -78 Undercut to holes TTD007 and TTD008
Zone 105.43 110.18 4.75 6.78 15.20
Including 105.43 106.86 1.43 19.85 46.90
Zone 121.00 134.62 13.62 5.06 6.73
Including 125.00 134.62 9.62 5.87 5.90
Including 128.00 130.00 2.00 8.43 2.40
And 133.10 134.62 1.52 21.60 28.80
TTD010 0 -86 Same pad as / undercut to holes TTD007, TTD008, TTD009
Zone 53.56 77.22 23.66 5.10 14.63
Including 59.19 77.22 18.03 6.41 18.97
Including 67.00 77.22 10.22 8.46 29.41
Including 73.47 77.22 3.75 16.38 65.06
TTD013 0 -45 Same pad as TTD014, TTD015, TTD016 - assays pending
TTD014 0 -65 Same pad as TTD013, TTD015, TTD016
Zone 118.00 121.00 3.00 5.33 13.97
Including 120.00 121.00 1.00 11.40 24.00
Zone 161.29 182.00 20.71 5.84 3.79
Including 171.00 182.00 15.00 7.24 4.63
Including 167.00 178.00 11.00 8.69 4.67
Including 170.88 178.00 7.12 10.13 4.20
Including 174.20 178.00 3.80 13.63 5.41
Including 175.00 176.00 1.00 26.10 5.90
And 167.00 168.39 1.39 14.95 13.30
And 170.88 172.00 1.12 11.90 4.20
TTD015 0 -85 Same pad as TTD013, 014, 016 - assays pending
TTD016 0 -75 Same pad as TTD013, TTD014, TTD015
Zone 23.52 32.61 9.09 7.51 37.22
Including 23.52 27.75 4.23 12.63 76.01
Including 24.50 27.75 3.25 14.09 95.91
Including 24.50 26.75 2.25 15.59 118.64
Including 25.32 25.96 0.64 25.20 290.00
Zone 66.54 73.05 6.51 5.62 3.15
Including 68.00 69.00 1.00 20.80 10.80
Zone 81.53 83.00 3.46 5.23 3.71
Including 84.00 85.01 1.01 8.15 3.70
Saddle North Initial Reconnaissance Drilling Assay Results
Hole ID Az Dip Zone From
(m)
To
(m)
Intercept
(m)
Au
(g/t)
Ag
(g/t)
Comments
TTD011 040 -50 Located 440 metres east of TTD012. Failed to reach targeted geophysical (IP) high due to blocky ground and water ingress. Follow up pending
Zone 86.00 86.80 0.80 7.46 12.88
TTD012 040 -50 Located 440 metres northwest of TTD011
Zone 190.43 196.56 6.13 3.69 10.92
Including 190.43 192.14 1.71 10.93 31.23
Including 191.00 192.14 1.14 13.80 40.00

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.

IMAGES FOLLOW

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/1102349_maps.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