VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec. 13, 2016) – GT Gold Corp. (TSX VENTURE:GTT). Assay results have now been received for 22 remaining soil samples from a line of 33 collected in August this year over the Company’s Saddle South gold target on the Tatogga property in northwestern British Columbia, Canada. Assays for 11 of the 33 samples were reported earlier (see Nov. 30, 2016 news release and Table 2, below). Results for an additional 265 soil samples collected in October this year from a 25X25 metre grid in the area of the August sampling have also been received. Assays from both programs closely compare statistically with those of two previous soil sampling programs carried out over Saddle by GT Gold subsidiary, New Chris Minerals in 2013 and 2014. Datasets for all programs have therefore been combined and modeled, allowing for a greatly improved understanding of the Saddle South anomaly. The results continue to impress for their remarkable tenor and continuity. Saddle is an entirely new prospect and has never been drilled. It represents among the more promising untested gold targets in B.C.’s renowned Golden Triangle.
The Saddle South anomaly presently spans at least 1.5 kms in an east-west direction and, as shown on the accompanying maps (HTTP://MEDIA3.MARKETWIRE.COM/DOCS/GTGOLD-DEC13-MAPS.PDF), contains an irregular core of very high gold-in-soil values as defined by contoured values exceeding 500 ppb (0.5 g/t) Au. Excluding a lobe of high gold-in-soil values in the eastern reaches of the anomaly, the core zone spans a distance of approximately 300 metres E-W by 225 metres N-S, and it remains open to the west under cover. This core of very high gold-in-soil values is itself encompassed by a considerably larger anomaly of lower tenor but still excellent values, as evidenced by the +100 ppb (0.1 g/t) Au contour on the accompanying figures. The +100 ppb Au anomaly remains open to both east and west within the 1.5 km-long Saddle South trend.
Excluding the eastern lobe of high gold-in-soil values, a total of 58 samples from all soil sampling programs (2013, 2014, 2016) fall within the core area of the +500 ppb (0.5 g/t) Au contour. The assays for these 58 samples have returned an average value in soils of 7.43 grams per tonne Au (0.22 ounces per ton). The median soil assay falls between 1.61 and 1.80 g/t Au. 33 of the 58 samples (57%) returned assays greater than 1 g/t Au. 11 of the 58 samples (19%) returned assays greater than 10 g/t Au.
The Saddle gold anomalies appear as separate and sub-parallel WNW trending anomalies covering at least 1.5 kilometres (Saddle South) and 1 kilometre (Saddle North) along trend. The sampled part of the Saddle South anomaly occupies a largely moss and grass covered, saddle-shaped upland ridge and tableland with very little outcrop. Where parts of the anomalous zones do outcrop, veining and alteration are generally subtle, although a number of high gold values were returned from grab samples of rusty-weathering quartz-sericite-pyrite altered volcanic host rocks. For these reasons the Saddle gold anomalies were likely overlooked by early prospectors and geologists in the region.
Commenting on the results, Charlie Greig, Vice President, Exploration, states, “These latest results confirm we have a large core of exceptionally high soils surrounded by a broad area of excellent values. We also see some considerable breadth in the north-south direction where the highest values occur, giving us a couple of beautiful bullseyes to point a drill at. Because local pyritization of the host rocks in part corresponds with high Au values in soils, we feel that IP surveying stands an excellent chance of outlining other high-priority targets. Both Saddle zone anomalies are broad and very much continuous, but they are not generally well-exposed – geophysics and drilling will be integral tools in future exploration at Saddle.”
Kevin Keough, President & CEO, adds, “Saddle is really shaping up nicely. We’re formulating our plans for next year’s exploration season and, following some initial geophysics we anticipate a significant drill program. We’re hoping we’re near the top of a largely preserved system, and are very much looking forward to being the first to drill Saddle.”
Details of Previous Soil Sampling Programs
Soil sampling programs were conducted at Saddle in 2013, 2014 and 2016 respectively. During 2013 a reconnaissance survey of 879 soil samples was undertaken over the broader Saddle valley area, including the Saddle South target, along lines spaced approximately 400 metres apart, with 50 metres between sample sites. In 2014 an in-fill sampling program (939 samples) was undertaken over the anomalous area delimited in 2013 at Saddle North and South with line spacing ranging from 50 to 100 metres, and sample spacing ranging from 25 to 50 metres. In August 2016, a total of 33 sequential soil samples were collected from the Saddle South target. However, only 11 of the 33 samples taken were initially assayed, the results of which were released on November 30, 2016. The August sampling was carried out at roughly ten metre intervals in a single line along a subtle east-west topographic low, possibly reflecting a buried structure, which transects for more than 300 metres the western part of the Saddle South anomaly. A further 265 soil samples were collected in October 2016 on a 25X25 metre grid over the immediate area of the August sampling.
Table 1: Results for All Samples From 2013, 2014, 2016 Programs Falling Within the +500 ppb (0.5 g/t) Au Contour (dark purple on accompanying maps – (HTTP://MEDIA3.MARKETWIRE.COM/DOCS/GTGOLD-DEC13-MAPS.PDF)
Table 2: Results for Line of 33 August 2016 Soils:
Quality Assurance and Quality Control
GT Gold Corp. maintains strict QA/QC protocols for all aspects of its exploration programs. This includes the systematic insertion of blanks and standards into each sample batch. Soil samples were collected in individually labeled kraft paper bags, packed in sealed plastic bags, and shipped by transport in sealed woven plastic bags (rice bags) to ALS Minerals laboratory facilities in North Vancouver. All samples reported in this release were first analyzed by ALS Minerals using a certified and industry-standard multi-element geochemical package for gold and other elements on a 50 gram split. Samples that returned initial over-limits (>1.0 ppm), and subsequent 50 gram sample splits were fire assayed, with an Atomic Absorption finish.
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.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
]]>GT Gold Corp.
Kevin M. Keough
President and Chief Executive Officer
GT Gold Corp.
Charles J. Greig
Vice President, Exploration