GT Gold Corp. (TSX.V: GTT) is pleased to report the results for the final Saddle South core holes from its 2018 exploration drilling program. The program was successful in extending the high-grade epithermal system discovered in 2017 along strike by several hundred metres, and to a similar depth beneath largely covered and untested areas east and west of Saddle Ridge. High-grade intercepts within numerous broadly mineralized intervals continue to increase the extent of the Saddle South mineralized system.
Building on the success of the 2018 drilling campaign at Saddle South and North, the team at GT Gold is currently in the process of compiling and interpreting our enhanced data set ahead of our 2019 exploration season. Once finalized the company will update its plans for 2019.
“The 2018 exploration program exceeded our goals. Following our impressive 2017 discovery of high-grade gold at Saddle South, we hoped to considerably expand the footprint of gold-bearing mineralization,” said Charles Greig, Vice President of Exploration for GT Gold Corp. “These latest results show that the system stretches well to the southwest and continues with strength beneath the previously untested “Rockpile” on the southwest side of Saddle Ridge, where it remains open. With the recent excitement of GT Gold’s Cu-Au porphyry discovery at Saddle North, it is easy to overlook the fact that Saddle South has developed into a potentially economic prospect on its own. It remains open at depth and along strike to the east, and to the west, the Saddle South system appears to turn southerly, where it also remains open.”
A plan view (Figure 1) showing the locations of Saddle South core holes and drill sections, and the drill sections themselves (Figures 2-5), are attached to this news release, as is a summary plan view highlighting exploration potential of the Saddle zones (Figure 6). A total of 16,587 metres of core were drilled at Saddle South in 2018, and a grand total of 32,582 metres have now been drilled at Saddle South over two seasons of exploration. The mineralized system now has a strike length of at least 1300 metres, a width of up to 300 metres, and it extends to depth over 600 metres from surface.
The 2017 exploration program, testing an excellent Au-in-soil anomaly with the first-ever drilling in the Saddle area, confirmed the presence of an epithermal gold system at Saddle South. It is hosted by hydrothermally-altered volcanic fragmental and volcaniclastic rocks of the Upper Triassic Stuhini Group and cut by dikes, primarily of latest Triassic and Early Jurassic age. Drilling defined a well-mineralized east-west trend of gold-bearing and sulphide-rich veins spanning roughly 400 metres that was up to 150 metres across and is coincident with a moderate chargeability high and resistivity low. The 2017 drilling returned many high-grade intercepts (e.g., 51.53 g/t over 6.95 metres in TTD007; 20.02 g/t Au over 8.25 metres in TTD046), and the aim of the 2018 program at Saddle South was to further test the strike and depth extents of the system.
Early drilling in the 2018 season quickly expanded both the depth extent and the strike length of the high-grade system. Deep intercepts on the west (e.g., TTD079), and on the east (e.g., TTD069), have increased the size and exploration potential, as have intercepts along strike to the west (e.g., TTD065, TTD068, TTD076),and to the east (e.g., TTD105, with 187.5 g/t Au over 0.74m). On the west margin of Saddle Ridge, and in all holes drilled west of the ridge and beneath the rock glacier in that direction, mineralized veins generally trend north-northeast (average strike 200) and dip moderately west-northwest (average 55°). Veins oriented in this direction correspond with a more southerly trend of the system, toward an area across the rock glacier where 2018 soil and talus fines sampling yielded highly encouraging results for gold (see news, September 4, 2018; figure 6). Also encouraging was the fact that drill holes collared from the rock glacier encountered less overburden than expected (typically less than 30 metres), suggesting that the potential evident to the southwest may be readily tested.
Table 1 – Saddle South 2018 Diamond Drill Program Assay Results. Significant intercepts for 21 NQ-diameter diamond drill holes are reported below. For hole locations, dips and azimuths, please refer to the accompanying drilling plan view (Figure 1) and drill sections (Figures 2-5), as well as Table 2 below. Widths reported are drilled core lengths. True widths are estimated at approximately 85% of reported intercepts.
|Hole||Au (g/t)||Interval (m)¹||From (m)||To (m)||Ag (g/t)|
|TTD081||No significant intervals|
|TTD104||No significant intervals|
Table 2 – Saddle South Collar Information: Refer also to the accompanying drilling plan view and drill sections
|UTM E||UTM N||Section|
|TTD082||170||-70||669||1533||433403||6408310||XS Rockpile 2/3*|
|TTD091||125||-45||357||1544||433391||6408220||XS Rockpile 2*|
|TTD095||115||-45||298||1552||433389||6408119||XS Rockpile 1*|
|TTD096||115||-75||366||1552||433389||6408119||XS Rockpile 1*|
|TTD097||115||-85||621||1552||433389||6408119||XS Rockpile 1*|
|TTD099||170||-50||603||1583||433448||6408418||XS Rockpile 2/3*|
|TTD100||170||-63||567||1583||433448||6408418||XS Rockpile 2/3*|
|TTD101||170||-55||624||1562||433450||6408315||XS Rockpile 2/3*|
|TTD103||305||-45||426||1651||433683||6408097||XS Rockpile 3*|
*See section XS3444 for alternative section view of drill hole
GT Gold has implemented a rigorous quality assurance / quality control 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.
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 base and precious metals in the geologically fertile terrain of British Columbia’s renowned Golden Triangle. The Company’s flagship asset is the wholly-owned, 45,847-hectare Tatogga property, located near Iskut, BC, upon which it achieved in 2017 two major discoveries at its Saddle prospect: a near surface bulk-tonnage and potential deep high-grade underground-style epithermal gold-silver vein system at Saddle South and, close by at Saddle North, a large-scale, richly mineralized and high-grade porphyry copper gold mineralized intrusion. The Company has the backing of major institutions and is currently in the process of planning its 2019 drilling campaign.
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