Uncategorized
Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on Google+
Google+
Email this to someone
email

GT Gold Drills 430 Metres of 0.67 g/t Au, 0.41% Cu, 0.89 g/t Ag (1.30 g/t AuEq(1)) Within 822 Metres of 0.42 g/t Au, 0.26% Cu, 0.62 g/t Ag in Hole TTD085, Strongly Suggesting a Very Large Porphyry Au-Cu-Ag Discovery at Saddle North

 

 

 

 

 

GT Gold Corp. (TSX-V: GTT) is very pleased to announce a major new Au-Cu-Ag porphyry discovery at the Saddle North target on the Company’s Tatogga property in BC’s Golden Triangle. Commencing at just 79 metres down-hole, hole TTD085, the first Saddle North hole of the 2018 season, intersected a very broad interval of sheeted vein, vein stockwork and disseminated style Au-Cu-Ag mineralization, centered on a monzodiorite intrusion with common strong potassic alteration. The steeply dipping tabular intrusion has now been intersected in all four holes (TTD085,090,093,098) drilled on the Saddle North target to date in 2018, indicating a strike length of at least 400 metres and true widths in excess of 700 metres.  Additional assays are pending, and drilling is continuing, with current hole TTD098 targeting 1,000 metres total down-hole depth. The system remains open along strike in both directions and at depth, with mineralization increasing with depth. Geophysics suggests a possible strike length in excess of 1,000 metres. Photos of mineralized intercepts from TTD085, for which assays have been received, as well as from holes TTD090 and 093, for which assays are still pending (hole 098 is drilling), have been posted to the Company’s website. A drilling plan view map (Figure 1) and cross-section (Figure 2) are presented below and have also been posted to the Company’s website.

 

 

Highlights

 

  • A new Au-Cu-Ag porphyry discovery, known to come to surface beneath thin glacial sediments, has been intersected in multiple holes along a 400 metre strike length, to over 700 metres true width, and to greater than 900 metres down-hole; mineralization remains open along strike and at depth
     
  • 0.42 g/t Au, 0.26% Cu, 0.62 g/t Ag (0.82 g/t AuEq1) over 822.19 metres2, from 78.87 to 901.06 metres in hole TTD085
     

    • Including 0.54 g/t Au, 0.35% Cu, 0.77 g/t Ag (1.08 g/t AuEq) over 563.54 metres, from 337.52 to 901.06 metres
       
    • Including 0.67 g/t Au, 0.41% Cu, 0.89 g/t Ag (1.30 g/t AuEq) over 430.00 metres from 467.50 to 897.50 metres
       
    • Including 0.70 g/t Au, 0.41% Cu, 0.89 g/t Ag (1.33 g/t AuEq) over 404.50 metres from 493.00 to 897.50 metres
       
    • Including 0.73 g/t Au, 0.43% Cu, 0.95 g/t Ag (1.39 g/t AuEq) over 333.50 metres from 564.00 to 897.50 metres
       
    • Including 0.95 g/t Au, 0.51% Cu, 1.08 g/t Ag (1.74 g/t AuEq) over 64.93 metres from 774.11 to 839.04 metres
       
    • Including 0.97 g/t Au, 0.53% Cu, 1.10 g/t Ag (1.79 g/t AuEq) over 57.83 metres from 774.11 to 831.94 metres
       
  • Grades generally increase with depth
     
  • Geophysical anomalies suggest a very large-scale system: coincident Induced Polarization (IP) and magnetic anomalies are continuous for over 1,000 metres along strike and for up to 1,000 metres across strike
     
  • Intrusion is mineralized to surface: 2017 reconnaissance hole TTD062 (news, December 13, 2017), which hole TTD085 undercut, was mineralized from surface, following 23 metres of overburden.

 

 

Charles Greig, Vice-President of Exploration for GT Gold, commented, “These terrific hole 85 results, and visual intercepts in holes 90, 93 and now hole 98, indicate possibly the most important new copper-gold-silver porphyry discovery in the northern part of the Golden Triangle since the discovery of the nearby Red Chris deposit, which is within sight of our property. The scale and grade of the Saddle North intrusion is outstanding, and we believe the best of it is intact, at surface beneath thin glacial sediments, and to depth.  We see tremendous upside for expansion, and again, as was the case with Red Chris, further grade increases at depth. The Company now has enviable options before it: near-surface bulk-tonnage and potential deep high-grade underground-style gold at Saddle South, coupled with a massive new copper-gold-silver porphyry system right next door.”

____________________

1 *Prices used to calculate CuEq and AuEq are: Cu: $2.64/lb, Au: $1,194.70/oz, Ag: $14.17/oz. All values reported in USD and do not consider metal recoveries
2 Widths reported are drilled core lengths. True widths are estimated to be approximately 85% of drilled lengths

 

 

Table 1 – Saddle North 2018 Hole TTD085 Assay Results.  For hole location, dip and azimuth, refer to the accompanying drilling plan view and drill section, as well as Table 2, below. Widths reported are drilled core lengths. True widths are estimated at approximately 85% of drilled lengths.

 

 

Hole TTD085 From
(m)
To
 (m)
Interval
(m)
Au
(g/t)
Ag
(g/t)
Cu
(%)
CuEq
(%)*
AuEq
(g/t)*
Interval 78.87 901.06 822.19 0.42 0.62 0.26 0.54 0.82
Including 337.52 901.06 563.54 0.54 0.77 0.35 0.71 1.08
Including 467.50 897.50 430.00 0.67 0.89 0.41 0.86 1.30
Including 493.00 897.50 404.50 0.70 0.89 0.41 0.88 1.33
Including 564.00 897.50 333.50 0.73 0.95 0.43 0.92 1.39
Including 774.11 839.04 64.93 0.95 1.08 0.51 1.15 1.74
Including 774.11 831.94 57.83 0.97 1.10 0.53 1.18 1.79
 

*Prices used to calculate CuEq and AuEq are: Cu: $2.64/lb, Au: $1,194.70/oz, Ag: $14.17/oz. All values reported in USD and do not consider metal recoveries

 

 

Saddle North Geology

 

 

The Saddle North intrusive complex appears to be similar lithologically to the nearby Red-Chris porphyry system, which is transitional between a silica-saturated alkalic system and a high-K calc-alkalic one. The porphyry intrusive is comprised mainly of a crowded hornblende feldspar (quartz) monzonite or monzodiorite body, or bodies, locally rich in sub-round inclusions, and commonly strongly altered by potassic alteration assemblages (magnetite, potassium feldspar, biotite). It appears to be bound on either side by relatively intense phyllic alteration assemblages (quartz-sericite-pyrite), and peripheral propylitic assemblages. Mineralization occurs in veins and as closely associated disseminations, with the principal sulphide phases being pyrite and chalcopyrite.

 

 

Table 2 – Saddle North Hole TTD085 Collar Information:  Refer also to the accompanying drilling plan view and drill section.

 

 

Hole Number Azimuth
(degrees)
Dip
(degrees)
Length
(m)
Elevation
(m)
UTM E UTM N Section
TTD085 025 -60 957 1697.52 435862.289 6407966.745 5860

 

 

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 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. For gold, fire assays are performed as per ALS method Au-AA26 (0.01-100.00 g/t Au) using 50 grams of sample measured by atomic absorption (AA). Assays equal to or greater than 100 g/t Au are reanalyzed gravimetrically by method Au-GRA22. Silver and copper are analyzed by ALS method ME-MS61 with a 4-acid digestion followed by ICP-MS analysis.

 

 

Qualified Person

 

 

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.

 

 

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

 

 

About GT Gold

 

 

GT Gold Corp. is focused on exploring for gold in the geologically fertile terrain of British Columbia’s renowned Golden Triangle. The Company’s flagship asset is the wholly-owned, 44,206-hectare Tatogga property, located near Iskut, BC, close to roads and grid power. The Company achieved, in 2017, a major new gold-silver discovery at its Saddle prospect, located up a gentle valley only 10 kilometres off highway 37. The Saddle discovery comprises two parts: a high-grade, near surface, epithermal gold-silver vein system at Saddle South and, close by at Saddle North, a largely covered, porphyry copper-gold-silver mineralized system. Geophysical surveying suggests that both may be large in scale, and current 2018 drill results indicate that Saddle North bears strong similarities to the nearby Red Chris deposit. The Saddle South discovery was internationally recognized for its significance in November 2017 with the Mines and Money “Exploration Discovery Award”. The Company has the backing of major institutions and key Canadian investors and is fully funded for the 18,000-metre program of expansion drilling now underway on this exciting new discovery.

 

Posted September 10, 2018

Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on Google+
Google+
Email this to someone
email

MORE or "UNCATEGORIZED"


American Manganese CEO has several one on one meetings with Funds (Audio)

HoweStreet.com | Talk Digital Network https://www.howestreet.com/... READ MORE

September 22, 2018

Tom McClellan - "Gold Now Bound to the Yuan"

September 20, 2018 Old-school monetarists have long... READ MORE

September 21, 2018

The Critical Investor - "Cypress Development Announces Strong PEA Economics And Increased Resource At Clayton Valley Lithium Project"

Drilling at Clayton Valley Lithium project, Nevada Introduction &... READ MORE

September 21, 2018

Jordan Roy-Byrne - "Gold Stocks Remain in Downtrend but Uranium Stocks on the Cusp of New Bull Market"

Gold stocks failed to breakout in the spring and then brokedown t... READ MORE

September 21, 2018

Rick Mills - "Update - SQM’s quest for lithium dominance"

Chile’s Sociedad Quimica y Minera (SQM) is the second largest l... READ MORE

September 21, 2018

Copyright 2018 The Prospector News - Site design by Spyderbaby Productions