GGX Gold Drill Intersects Mineralized Geophysical Target

VANCOUVER, BC - GGX Gold Corp. reported an update on its first drill hole to test a large, deep geophysical anomaly at its Gold Drop property in the Greenwood Mining Camp. Hole AMT19-01 has reached a depth of 658m. After the first few hundred meters, mineralization was intersected. Patches of epidote-calcite-garnet alteration up to 10 centimeters in length occur throughout the hole. At approximately 479 meters depth, magnetite mineralization appears in the form of fine disseminations and millimeter-scale veinlets. The magnetite is easily identified using a hand-held pencil magnet. The magnetite mineralization is strongest where it is hosted by greenstone but also occurs within chert host rock. It continues intermittently to at least 577 meters depth (crews are continuing to log). Visible sulphide mineralization has not been identified in association with the magnetite.

The source of the magnetite mineralization is unknown. It is too abundant to be an original accessory mineral in the host rocks and its occurrence in veinlets suggests a hydrothermal genesis. Its appearance at 479 meters closely corresponds to the predicted start of the modeled anomalous zone (the start of the zone was predicted at 441 metres depth by ESSCO) so it appears the magnetite mineralization could be the source of the geophysical anomaly. Further investigations will be carried out, including geochemical analyses of the core and petrographic studies