GGX Gold’s Syndicate Partner J2 Syndicate Discovers up To 7.14 g/t Gold and 1.6% Copper over 500 m on Bingo Property and Zone Remains Open “In the Golden Triangle”
Vancouver - The Bingo property was recently staked based on positive assay results from a reconnaissance prospecting program and covers 841 hectares located approximately 45 kilometers southeast of Stewart BC in the Golden Triangle. Bingo is the second property to be announced from a much larger suite of properties generated, prospected and staked by the J2 private Syndicate which includes multiple stand-alone precious metal prospects totaling 38,698 hectares. A brief summary of each of these projects will be released as information becomes available. The main Bingo discovery zone, now the “Main Zone”, is comprised of mineralization traceable in outcrop for more than 300 meters trending north-south in a 7-9 meter wide mineralized horizon that remains open. Prospecting of the Main Zone has yielded 4.71 grams per tonne gold over a 1.8 m wide chip sample taken from outcrop and grab samples assaying 7.14 grams per tonne gold, 4.85 grams per tonne gold and 3.59 grams per tonne taken from outcrop. Copper values from this zone assayed 1.49 percent, 1.24 percent and 0.8 percent copper. The Bingo Main Zone is an area measuring 300 meters long by up to 140 meters wide trending north south and returning multiple samples over 1 gram per tonne gold and over 1 percent copper. The Bingo Main Zone is within a larger north east trending zone, more than 1 kilometer long, of anomalous gold-copper values from outcrop, with grab samples assaying up to 5.93 grams per tonne gold and 1.6 percent copper. Mineralization remains open in all directions.
The property is located within the Golden Triangle, approximately 10 kilometers northwest of the historic Anyox town-site and smelter, in a mining camp which is host to four known deposits and several past producers.
Mineralization at Bingo Main Zone occurs within a rusty brown weathering biotite rich metasedimentary unit which is gently dipping to the southwest and moderately foliated. The horizon contains chalcopyrite-pyrite-covellite bearing quartz veins up to 30 centimeters wide paralleling foliation and localized disseminations of pyrite-chalcopyrite. The majority of rock samples taken across the greater than 300 meter long mineralized outcrop have returned consistent values of greater than 1 gram per tonne gold and 0.1 percent copper, confirming the strong continuity of the gold mineralization. Foliation and various faults which slightly offset the unit offer excellent conduits for mineralizing fluids. Mineralizing fluids are likely sourced from later fertile intrusion at depth. North of the main zone a younger granodiorite is observed at the base of the cirque intruding overlaying units forming possible roof pendent; this is analogous to mineralization and host settings for ore deposits in the area.
Also located on the Bingo property is the newly discovered 1 kilometer Northeast Trend that consists of anomalous gold mineralization and several strongly anomalous copper values taken from outcrop samples along this trend and located proximal to the contact between intermediate volcanics of the Hazelton group and metasedimentary units of similar age. One grab sample taken from outcrop returned assayed 5.93 grams per tonne gold and 1.6 percent copper. Mineralization occurs as disseminations and globules of pyrite-chalcopyrite within chloritized intermediate volcanics. Other outcrop grab samples from this trend have returned 4240, 1760 and 1055 parts per million copper and up to 186 parts per billion gold. The Hazelton group is a favorable host for several deposits in the Anyox mining camp where mineralization consisted of massive sulphide bands and lenses within the volcanics.
Results for the Bingo property were attained in two days of total prospecting. A total of 36 rock samples were taken from various outcrops across the property, of which 15 samples (43%) have returned over 1 grams per tonne gold up to 7.14 grams per tonne, and 19 samples (54%) have returned over 0.1 percent Cu up to 1.6 percent. The Bingo Main Zone exhibits strong gold copper mineralization traceable in outcrop for over 300 meters and remains open. The majority of the claim block remains unexplored.
Follow up work is recommended in preparation for drilling, consisting of mapping, channel/geochemical sampling and prospecting to determine the extent of the North South trending Main Zone and along the one kilometer long Northeast Trend, both of which remain open. Excellent bedrock exposure across the property makes for cost-effective exploration.
All the precious metals properties staked in North West B.C. will be made available for option to qualified parties. For further information, interested parties may contact by email J2syndicate@gmail.com , or by telephone 778 233 0293
See news dated October 20th, 2016 for details of the agreement between GGX Gold (formerly Revolver Resources) and the J2 Syndicate.
GGX Gold Inc. looks forward, with great anticipation, to disseminating news regularly pertaining to the J2 syndicate properties.
On Behalf of the Board of Directors
Dan Stuart, President, C.E.O. & Director
604-488-3900
This News Release may contain forward-looking statements including but not limited to comments regarding the acquisition of certain mineral claims. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Revolver undertakes no obligation to update such statements, except as required by law.
Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates, including that: the current price of and demand for minerals being targeted by the Company will be sustained or will improve; the Company will be able to obtain required exploration licences and other permits; general business and economic conditions will not change in a material adverse manner; financing will be available if and when needed on reasonable terms; the Company will not experience any material accident; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; potential inability to find suitable acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company’s public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
___Rein Turna________, P. Geo. is a qualified person, as defined by National Instrument 43-101, for GGX Gold Corp. British Columbia exploration projects. He has reviewed and approved, the technical information in this release.
Sample analysis and assaying for all of J2's projects have been conducted by ALS Global in Vancouver, BC, which is ISO accredited. Rock samples are crushed to 70% less than 2 millimeters, and a 250 gram sample is split with a riffle splitter. The split is pulverized to 85 per cent less than 75 microns, and 30 gram charges are then assayed for gold using fire assay fusion and ICP ES finish with a lower detection limit of 1 ppb, and an upper detection limit of 10 ppm Au. Samples with gold, silver, copper, lead, or zinc exceeding the upper detection level are reanalyzed the most appropriate method determined by the lab. Rigorous procedures are in place regarding sample collection, chain of custody and data entry. Certified assay standards, duplicate samples and blanks are routinely inserted into the sample stream to ensure integrity of the assay process.
Note: Grab samples are selective by nature, and are unlikely to represent average grades on the property
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/ggxgold11012016.pdf
Source: GGX Gold Corp. (TSX Venture:GGX)
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