GT GOLD CORP.
GT Gold Confirms Continuity of Higher-Grade Cu-Au Porphyry Mineralization to Depth of 1.2 Kilometres at Saddle North
1206 metres of 0.57 g/t Au, 0.26% Cu, 0.96 g/t Ag (0.94 g/t AuEq)
including 324 metres of 0.94g/t Au, 0.51% Cu, and 1.74 g/t Ag (1.21% CuEq; 1.65 g/t AuEq)
VANCOUVER, British Columbia, September 4, 2019 (GLOBE NEWSWIRE) — GT Gold (TSX-V:GTT)
announced results from the next eleven drill holes (TTD117 through 126) of its 10,000-metre Phase 1 exploration program at the Saddle North Cu-Au porphyry discovery within its 100%-owned Tatogga Project, in northwest B.C.. Results support the expansion of the known higher-grade mineralization by approximately 100 metres along strike to the southeast at depth, and by approximately 200 metres along strike to the northwest near surface. In addition, the latest results confirm the continuity of excellent and increasing grades between the near-surface mineralization through moderate depths to the deeper and generally highest grade mineralization, where the system remains open.
The south-southwesterly-plunging, northerly-elongate higher-grade core zone now has approximate dimensions of 1400-1500 metres (down-plunge), 250-300 metres (thickness), and 400 metres (strike). It is contained within a well-mineralized northerly-trending and west-southwesterly dipping envelope 600 or 700 metres thickness, over 1500 metres down-dip, and over 700 metres along strike. The system remains open in most directions, with highly prospective targets remaining at depth, to the west, and to the southeast.
Prices used to calculate CuEq and AuEq are: Cu: $2.57/lb, Au: $1,294.80/oz, Ag: $15.65/oz. All values are reported in USD and do not consider metal recoveries
- TTD126: 0.57 g/t Au, 0.26% Cu, 0.96 g/t Ag (0.94 g/t AuEq) over 1206 metres from 18 to 1224 metres
o Including 4.05 g/t Au, 0.30% Cu, 3.06 g/t Ag (4.49 g/t AuEq) over 51 metres from 410 to 461 metres (anomalously high gold values require follow up drilling to better understand their geometry, genesis and economic potential)
o And including 0.94 g/t Au, 0.51% Cu, 1.74 g/t Ag (1.21% CuEq; 1.65 g/t AuEq) over 324 metres from 872 to 1196 metres
o Successfully extended the deep, high-grade mineralization intersected in 2018 drill holes (along strike from TTD109, down-dip from TTD093, see figs. 2 and 3)
- TTD121: 0.43 g/t Au, 0.22 % Cu, 0.73 g/t Ag (0.54 % CuEq; 0.74 g/t AuEq) over 964 metres from 34 to 998 metres
o Including 0.97 g/t Au, 0.42% Cu, 1.46 g/t Ag (1.56 g/t AuEq) over 230 metres from 734.5 to
o Shows that the excellent grades encountered in 2018 in drill hole TTD093 continue along strike approximately 100m to the southeast
- TTD125: 0.37 g/t Au, 0.31% Cu, 1.00 g/t Ag (0.59% CuEq; 0.81 g/t AuEq) over 396.5 metres from 7.5 to 404 metres
o Including 0.42 g/t Au, 0.39% Cu, 1.15 g/t Ag (0.71% CuEq; 0.96 g/t AuEq) over 257 metres from 136 to 393 metres
o Demonstrates along-strike continuity to the northwest of near-surface Cu-Au mineralization encountered in drill holes TTD108 and 111
Most significantly, the deeper holes reported in this news release (TTD126, 121) extend the strike of Saddle North high-grade mineralization approximately 100 metres to the southeast, at depths equivalent to the deepest holes drilled in 2018 (TTD093, 109). Where the mineralization in all the holes is best developed, the step-outs occur across approximately 300 to 500 metres of down-dip extent. When considered in light of the results from the first six holes released in 2019, the new results suggest that the core zone intersected in TTD093 and 109, and linked to surface by higher grade intersections in drill holes such as TTD112, 108, 113 and 111, comprises a truly significant volume of higher-grade southerly-plunging core zone material at Saddle North.
Near-surface Saddle North drill holes in this news release at (TTD117-120, 123-125) returned grades in line with previous shallow drilling over lengths exceeding 250 metres. The continuity and consistency of grades in these holes confirm that near-surface bulk-tonnage Cu-Au porphyry potential exists at Saddle North, and it extends the strike-length of the mineralized zone beyond 700 metres, from TTD107 on the southeast, to TTD123 on the northwest.
“It is great to see such a robust set of results supporting continuity borehole to borehole and section to section,”
commented Paul Harbidge, President and CEO. “It is very encouraging to see increasing grade at depth.”
2019 Exploration Summary
The 10,000 metre Phase 1 drlll program is now complete, with 8,652 metres reported. The program achieved positive results with respect to every objective – testing, confirming and extending continuity along strike, and from surface to depth.
Phase 2 drilling for is now underway. It will consist of approximately 15,000 metres for a total of 25,000 metres drilling in 2019. The exploration season is expected to last into late October, with infill drilling and expansion of Saddle North continuing to be the focus, but with possible testing of targets peripheral to Saddle North if time permits. Drill results will be released periodically throughout the season and likely into early 2020, as assays and other data are received and compiled.
GT Gold is also beginning consultation with engineering firms and others to develop a scope, schedule and budget for study work that will progress Saddle North through resource estimation and economic evaluation.
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