GT Gold Announces Metallurgical Recoveries of up to 98% at Saddle

Vancouver, British Columbia, CANADA


VANCOUVER, British Columbia, Feb. 14, 2018 (GLOBE NEWSWIRE) -- GT Gold Corp. (“GT Gold” or the “Company”) (TSXV:GTT) is pleased to announce initial metallurgical test results for the Saddle gold-silver discovery, located on the Company’s 100%-owned Tatogga property in northwestern British Columbia, Canada.  Results show that the Saddle gold-silver mineralization is amenable to standard cyanidation processing with average recoveries of 84% gold and 25% silver, including numerous samples that showed recoveries of over 90%, and as high as 98%.  The metallurgical test work was carried out by Blue Coast Research Ltd. of Parksville, B.C.

“These initial results are very encouraging even more so because they were unoptimized,” said Kevin Keough, President & CEO.  “They constitute an important positive milestone for the advancement of the Saddle discovery.”

For metallurgical testing purposes 30 bulk composites spatially representative of the Saddle South Zone, and representative also of Saddle South style quartz-carbonate-sulphide mineralization, were created with drill core from 22 diamond core holes. Criteria for testing included standard bottle rolls using the following common processing parameters:

  • 80% passing 100 μm
  • retention time of 48 hours

The following table summarizes the initial metallurgical test results for Saddle:

Composite
Sample ID
Assay
Head
Grade
Au g/t
Assay
Head
Grade
Ag g/t
Head
Grade
Calculated
Au g/t
Head
Grade
Calculated
Ag g/t
%
Recovery
Gold
%
Recovery
Silver
Comp 15.969.006.209.516534
Comp 25.969.006.429.24--
Comp 34.363.304.023.678855
Comp 44.363.303.703.37--
Comp 55.969.006.339.176743
Comp 63.253.603.424.007841
Comp 739.63222.6046.01227.398145
Comp 816.6010.1016.7110.748948
Comp 97.032.504.572.848837
Comp 105.346.105.156.148346
Comp 117.8917.907.5918.048536
Comp 1224.1026.0024.3528.128354
Comp 13*7.7917.707.6616.707761
Comp 14*8.33157.407.00157.248412
Comp 15*2.553.102.363.518177
Comp 164.071.204.141.289737
Comp 178.241.107.511.419765
Comp 184.534.604.493.719260
Comp 1911.235.6511.185.128649
Comp 2035.75181.8036.94182.118322
Comp 2125.105.8064.875.949879
Comp 2213.2910.1014.2311.428858
Comp 2314.84367.0014.55384.907515
Comp 241.211.301.632.119138
Comp 2511.205.5011.184.159264
Comp 265.997.103.556.378844
Comp 27*20.3431.1020.8731.248660
Comp 28*2.574.102.404.317947
Comp 29*7.005.957.205.718263
Comp 30*11.4039.3011.9738.047232
Average10.8639.0712.2739.928425
 
Note: All numbers are rounded.  Composites highlighted with a * were ground to 25 μm

NaCN consumption rates averaged 1.2 kg/t.

Independent Capital Markets Advisor

The Company has engaged an independent investor relations and capital markets advisory firm based in Toronto, to provide services on a non-exclusive basis for a three-month period, pursuant to which the Company has granted the advisory firm incentive stock options to purchase up to 90,000 shares.  The options are exercisable for 2 years at a price of $0.70 cents.

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

For more information please contact:
     
GT Gold Corp.   GT Gold Corp.
Kevin M. Keough   Charles J. Greig, P.Geo
President and Chief Executive Officer   Vice President, Exploration
Tel: (613) 832-4592   Tel: (250) 492-2331
Website: www.gtgoldcorp.ca    

Cautionary Statement Regarding Forward Looking Statements

This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws.  All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved".  Forward-looking statements involve risks, uncertainties and other factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators, that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although the Company believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements.  Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.