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GT Gold Drills High-Grade Gold and a New Copper-Gold Porphyry at Saddle North

/EINPresswire.com/ -- VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 13, 2017) - GT Gold Corp. ("GT Gold" or the "Company") (TSX VENTURE:GTT) is pleased to report assay results from early reconnaissance drilling of the very large Saddle North target, located approximately 500 metres north of the high-grade Saddle South gold discovery on its 100%-owned Tatogga property. High-grade vein-hosted gold was intersected in holes TTD057 and TTD063, which were drilled near the west end of the Saddle North trend. Two kilometres to the east, porphyry copper-gold-silver mineralization which began at surface, strengthened steadily with depth, and that continued to the end of the hole at 234 metres, was intersected in TTD062. Hole TTD064, drilled 1,000 metres west of TTD062, intersected similar, though narrower and richer, porphyry-style copper-gold-silver mineralization. Holes TTD062 and 064 targeted a high intensity geophysical anomaly located under considerable glacial cover to the east of the area of known high-grade epithermal gold potential targeted by holes TTD057 and 063.

Highlights Include:

High Grade Gold Intercepts:

Hole TTD057: 13.55 g/t Au over 2.58 metres from 240.00 metres (est. 90% true width)

  • Including 61.10 g/t Au and 30.90 g/t Ag over 0.61 metres from 240.00 metres

Porphyry Copper-Gold Intercepts:

Hole TTD064: 1.35 g/t Au, 1.42 g/t Ag, and 0.37% Cu over 18.40 metres from 134.60 metres (est. 90% true width)

  • Including 2.28 g/t Au, 2.03 g/t Ag and 0.56% Cu over 7.40 metres from 134.60 metres

Hole TTD062: 0.14 g/t Au and 0.16% Cu over 210.53 metres from 23.47 metres (true widths unknown)

  • Including 0.22 g/t Au and 0.24% Cu over 33.73 metres from 200.27 metres to EOH

"The Saddle North copper-gold-silver porphyry is the latest discovery to emerge from the broader Saddle target area," said Kevin Keough, President and CEO. "We are excited by the early results and the potential of this large system. We believe it is largely uneroded and, along with continued exploration of the impressive high-grade gold-silver systems at Saddle South and on the western end of the Saddle North Trend, we intend to make it a focus in 2018."

Table 1 - Saddle North Diamond Drill Program Assay Results: Refer to drilling plan views for location of holes.

Hole Number From
(m)
To
(m)
Interval
(m)
Uncut Grade
g/t
Au
Uncut Grade
g/t
Ag
Copper
%
Comments
TTD057 222.36 222.86 0.50 13.55 37.80 - West End of Saddle North
And 240.00 242.58 2.58 17.21 9.30 -
Including 241.97 242.58 0.61 65.10 30.90 -
TTD062 23.47 234.00 210.53 0.14 0.28 0.16 East End of Saddle North
Including 23.47 51.00 27.53 0.06 0.25 0.08
And 51.00 100.00 49.00 0.10 0.28 0.14
And 100.00 150.25 50.25 0.17 0.26 0.17
And 150.25 200.27 50.02 0.15 0.25 0.17
And 200.27 234.00 33.73 0.22 0.36 0.24
TTD063 171.33 171.93 0.60 7.59 - - West End of Saddle North
TTD064 134.60 153.00 18.40 1.35 1.42 0.37 Central-East Saddle North
Including 134.60 142.00 7.40 2.28 2.03 0.56

Significant intercepts for 4 diamond drill holes, arranged by hole number (see plan views) are reported above. Widths reported are drilled core lengths. True widths are estimated to be approximately 90% of drilled lengths for minus 45-50 degree holes. True width for minus 85 degree hole TTD062 is unknown.

Table 2 - Saddle North Diamond Drill Hole Details: Key information for the above 4 diamond drill holes, arranged by hole number, is reported below. Refer to drilling plan views for location of holes.

Hole Number Azimuth
(degrees)
Dip
(degrees)
Elevation
(m)
Length
(m)
UTM E UTM N
TTD057 040 -45 1554 264.00 434145 6408656
TTD062 040 -85 1522 234.00 436030 6408201
TTD063 200 -50 1575 339.00 434523 6408759
TTD064 040 -50 1649 279.00 435093 6408342

Maps of drill hole locations and individual drill sections are included below. The same images, along with photos of core, camp and drill sites, can be obtained from the "Downloads" portion of the Company's homepage (scroll down, left) at: http://www.gtgoldcorp.ca/.

Comments on Individual Drillholes:

Hole TTD057, drilled at minus 45 degrees to the northeast, tested a strong gold-in-soil anomaly located at the extreme northwestern end of the Saddle North trend. From approximately 12 to 76 metres the hole returned scattered very low (0.1 to 1 g/t Au) to low (1-3 g/t Au) gold values, followed by anomalous to very low values in the interval to 170 metres. From 170 to 182 metres a cohesive zone of generally low grade (1-3 g/t Au) values was cut. From approx. 193 to 223 metres the hole returned a zone of very low (0.1-1 g/t Au) values, with a single sample high of 13.55 g/t Au and 37.8 g/t Ag over 0.5 metres at 222.36 metres. From 239 to 243 metres a narrow zone of high grade was intercepted, capped by a very high grade 65.10 g/t Au and 30.90 g/t Ag over 0.61 metres at approximately 242 metres.

Hole TTD062, a minus 85 degree, near vertical hole, was designed as a first test of the high intensity, coincident magnetic and IP chargeability anomaly anchoring the eastern extent of the Saddle North trend. Twenty-four metres of glacial overburden was followed by 234 metres of altered monzonitic intrusive rocks hosting common magnetite and associated chalcopyrite in veins and local disseminations. All 233 samples taken from hole 062 returned a copper-gold signature, showing a remarkable consistency and a general strengthening in tenor with depth. For example, the 27.53 metres from 23.47 to 51.00 metres down-hole returned 0.06 g/t Au and 0.08% Cu. This strengthened to 0.10 g/t Au and 0.14% Cu in the 49.00 metres from 51.00 to 100.00 metres, and strengthened again to 0.17 g/t Au and 0.17% Cu in the 50.25 metres from 100.00 to 150.25 metres, remained similar from there to 200.27 metres down-hole, then strengthened again to 0.22 g/t Au, 0.36 g/t Ag and 0.24% Cu in the final 33.73 metres, before bottoming in mineralization. These results strongly suggest that deepening of this hole is warranted.

Hole TTD063, situated near the western limit of the Saddle North trend and drilled at minus 50 degrees to the southwest, was designed to test for eastward extensions to high-grade epithermal vein mineralization intercepted earlier this year in hole TTD012 (10.93 g/t Au and 31.23 g/t Ag over 1.71 metres (near true width) from 190.43 metres - news, Sept. 18). It returned only scattered anomalous values (<0.1 g/t Au), two narrow intervals at approx. 256 and 283 metres with very low (0.1-1 g/t Au) to low (1-3 g/t Au) grade values, and a single strong value of 7.59 g/t Au over 0.66 metres at 171.33 metres down-hole.

Hole TTD064, a minus 50 degree, northeast directed hole, was drilled from a setup about midway along the 2.4 kilometre long Saddle North trend and about 400 metres east of the site of hole TTD011 drilled in July (abandoned in water but achieved a narrow high grade intercept with associated Cu-Au porphyry style signature - news, Sept. 18). After passing through 25 metres of overburden, it intersected a number of dykes and a monzonitic intrusive body intruding variably-altered largely volcanic rocks. The key intercept was achieved in the interval between 134.60 and 153.00 metres down-hole, with strongly but variably-altered monzonite hosting strongly elevated gold (averaging 1.35 g/t Au), and silver (averaging 1.42 g/t Ag), along with chalcopyrite mineralization (averaging 0.37% Cu) associated with a number of multi-stage veins and veinlets. From 159 to 184 metres the hole continued in less altered monzonite, with anomalous values of gold and copper.

About the Saddle Discovery

The Saddle discovery is located in northwestern B.C. within 10 kilometres of paved highway 37 and a similar distance from grid power. Two broad styles of mineralization have been identified to date: high-grade epithermal gold-silver, and porphyry copper-gold +/- silver. Epithermal mineralization is of transitional low sulphidation type, with higher-grade sections characterized by semi-massive to massive quartz-carbonate sulphide veins and vein breccias dominated by pyrite with subordinated sphalerite, galena, chalcopyrite and local sulphosalts. Host rocks consist of fragmental volcanic and volcaniclastic rocks of the Lower Jurassic Hazelton Group. The porphyry-style intercepts along the Saddle North trend are hosted by monzonitic intrusive rocks and the gold and copper values are not associated with the suite of pathfinder elements typically found with the epithermal-style mineralization found to the west along the Saddle North trend and at Saddle South. Rather, they bear greater similarities to largely intrusive-hosted mineralization in nearby Cu-Au porphyry systems, such as North Rok and Castle (Colorado Resources) and the Red Chris deposit (Imperial Metals), which all lie less than 25 kilometres distant.

QA/QC Procedures

GT Gold has implemented a rigorous quality assurance / quality control (QA/QC) program to ensure best practices in sampling and analysis of RC chips and diamond drill core, the details of which can be viewed on the Company's website at http://www.gtgoldcorp.ca/projects/tatogga/.

All assays are performed by ALS Canada Ltd., with sample preparation carried out at the ALS facility in Terrace, BC, and assays at the North Vancouver laboratory. Assay values are uncut. Assay results presented below are fire assay results only. For gold, fire assays are performed as per ALS protocol Au-AA26 (0.01-100.00 g/t Au) using 50 grams of sample with assays equal to or greater than 5 g/t Au calculated gravimetrically, and lower-grade samples measured by (AA) atomic absorption.

Charles J. Greig, M.Sc., P.Geo., Vice President, Exploration for GT Gold and the Company's Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this news release.

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

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.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/GTT_SaddleNorth_Figure_1.pdf

To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/GTT_SaddleNorth_Figure_2.pdf

To view Figure 3, please visit the following link: http://media3.marketwire.com/docs/GTT_SaddleNorth_Figure_3.pdf

To view Figure 4, please visit the following link: http://media3.marketwire.com/docs/GTT_SaddleNorth_Figure_4.pdf

To view Figure 5, please visit the following link: http://media3.marketwire.com/docs/GTT_SaddleNorth_Figure_5.pdf

To view Figure 6, please visit the following link: http://media3.marketwire.com/docs/GTT_SaddleNorth_Figure_6.pdf

GT Gold Corp.
Kevin M. Keough
President and Chief Executive Officer
(613) 832-4592
www.gtgoldcorp.ca
GT Gold Corp.
Charles J. Greig
Vice President, Exploration
(250) 492-2331

Distribution channels: Mining Industry