VANCOUVER, British Columbia, June 27, 2018 (GLOBE NEWSWIRE) -- GT Gold Corp. (“GT Gold” or the “Company”) (TSX.V:GTT) is pleased to announce that two drills are now working at the high-grade Saddle gold-silver discovery, located on the 100%-owned Tatogga property in northwest British Columbia. The 2018 drill program will encompass a minimum of 18,000 metres of diamond drilling in an estimated 56 holes, with potential for program expansion and drilling to mid-November.
Saddle South
Drilling is focused on expanding the high-grade near-surface gold-silver zone defined last summer. Results from 2017 included 51.53 g/t Au over 6.95 m (TTD007), 14.75 g/t Au over 12.15 m (TTD019), 20.02 g/t Au over 8.25 m (TTD046), and 31.79 g/t Au and 1,141.10 g/t Ag over 3.01 m (TTD058). As shown on the accompanying map, holes will test possible extensions in all directions outward from the core area outlined in 2017.
Saddle North
Additional geophysics (IP) is underway at the exciting new copper-gold-silver porphyry discovery at Saddle North, drilled near the close of the 2017 season. Initial drill results suggest strong similarities to the nearby Red Chris deposit. Current geophysics is looking deeper, in more detail, and also along trend, providing an enhanced understanding of the geometry and apparent scale of the intrusive-related mineralizing system to depth. Once all the geophysical data is acquired, modelled, and interpreted, drill targets will be prioritized, including deepening of discovery hole TTD062 which was mineralized to the end of hole and bottomed in its best grades. Drilling on these targets should commence by the end of July.
Qualified Person
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 gold in the geologically fertile terrain of British Columbia’s renowned Golden Triangle. The Company’s flagship asset is the wholly-owned, 42,500-hectare Tatogga property, located near Iskut, BC, close to roads and grid power. The Company achieved, in 2017, a major new gold-silver discovery at its Saddle prospect, located up a gentle valley only 10 kilometres off Highway 37. The Saddle discovery comprises two parts: a high-grade, near surface, epithermal gold-silver vein system at Saddle South and, close by at Saddle North, a largely covered, porphyry copper-gold-silver mineralized system. Geophysical surveying suggests that both may be large in scale, and early drill results suggest that Saddle North bears similarities to the nearby Red Chris deposit. The discovery at Saddle was internationally recognized for its significance in November 2018 with the Mines and Money “Exploration Discovery Award”. The Company has the backing of major institutions and key Canadian investors and is fully funded for the 18,000-metre program of expansion drilling now underway on this exciting new discovery.
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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/2121b141-f270-465e-9c3c-4893e986c409