GGX Gold Corp (CVE:GGX) (OTCMKTS:GGXXD) is making progress with a successful drilling program at its Gold Drop property in the Greenwood Mining Camp in British Columbia.
The Vancouver-based company announced Thursday that it had completed 32 diamond drill holes on the COD vein and moved the drill rig to the COD North vein, where trench samples collected last year returned results of up to 21.7 grams per ton gold over 0.4 metres.
An initial 10 holes are planned to test the structure near the surface samples, the company said in a note to investors.
At the main COD vein, GGX drilled a total of 1923 metres on the structure. Fourteen of the 32 holes intersected the quartz vein at the target depths and contained varying amounts of pyrite mineralization, with one intercepting visible gold.
Drilling will continue at COD North with plans to test the Everest vein, where a gold-bearing vein was discovered in 2018, and at the Gold Drop mine, where gold in quartz is visible on surface.
GGX said that drill core is still being logged at the company’s Greenwood, British Columbia facility. Half the core samples will be shipped for assay later in June.
The company recently announced it will raise up to C$1.7 million in a non-brokered private placement as it looks to continue exploration at Gold Drop.
Shares of GGX were flat in Toronto at C$0.27 and at US$0.16 on OTC markets.
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