GGX Gold Corp.
Thursday, November 10, 2016 - 7:30 AM EST

GGX Gold Corps Partner, J2 Syndicate Discovers Widespread High Grade Polymetallic Mineralization in Outcrop with Assays up to 16.4 Grams per Tonne (0.53 Oz per Ton) Gold, 36,875 Grams per Tonne (1185.5 Oz per Ton) Silver, 27.6 Percent Copper, 33.9 Percent Lead and 29.98 Percent Zinc at Empire



Vancouver, British Columbia (FSCwire) - The Empire Property covers 7682 hectares approximately 70 kilometers northeast of Terrace, BC. . It is road-accessible and approximately 15 kilometers from the nearest highway and power line. The Empire property was generated and recently staked by the J2 Syndicate following a brief reconnaissance exploration program in a highly prospective geological setting which resulted in the discovery of extensive high grade polymetallic mineralized trends. These trends were discovered in areas where recent glacial abatement has exposed several extensive new zones of mineralized outcrop which were previously unknown. Grab samples taken from outcrop have returned grades up to 16.4 grams per tonne (0.53 oz per ton) gold, 36,875 grams per tonne (1185.5 oz per ton) silver, 27.6% copper, 33.9% lead and 29.98% zinc. The Empire Property is the fourth property to be announced from a larger suite of properties generated, prospected and staked by the J2 Syndicate.

 

Inca Trend:

 

In August 2016, a 4 day reconnaissance prospecting program was completed on the Empire Property, resulting in the discovery of extensive high grade polymetallic mineralization in the north-south striking Inca Trend, which measures 1.6 by 1.2 kilometers. Within the Inca Trend widespread  areas of massive and semi-massive sulphides and sulfosalts occur in abundant, near-vertical and flat-laying quartz-carbonate veins, sheeted veins, breccias and stockworks in two extensive vein swarms identified as the Metallica and Metalworks Zones.

 

Metallica Zone:

 

The Metallica zone is a new discovery in a region of recent glacial retreat exposing mineralized outcrop that has never been seen before. Limited prospecting identified mineralization over an area measuring approximately 250 by 225 meters that remains open. Multiple outcrop exposures with abundant mineralization were discovered, including stacked flat-laying sheeted quartz-carbonate veins with globular sulfide disseminations arranged in a traceable set for over 50 meters across strike. Individual veins range up to 25 cm wide with an encompassing ankeritic carbonatized alteration halo. Five separate veins assayed between one and 16.4 grams per tonne gold, and up to 2470 grams per tonne silver, 15.45% copper and 1.58% zinc. The most prominent mineralization observed in outcrop in the Metallica Zone was a solid massive sulphide and sulfosalt vein up to 30 cm wide. Samples taken across the vein returned assay values of up to 36,875 grams per tonne silver, 4.68 grams per tonne gold, 27.6% copper and 3.27% zinc. This high grade vein is hosted in a 75 cm wide altered carbonatized fault with local sulphide bearing stockworks, breccia and parallel, near vertical, quartz-carbonate veins. The structure has been traced over 40 meters to the east and west and remains open in both directions. The spectacular assay values and sulphide rich mineralization offer a predictive look to mineralization at depth and strong potential for adjacent veins and feeder zones extending from an Eskay Creek style VMS body at depth. The parallel veins also have the same characteristics that have been observed throughout the zone, providing strong follow up targets. The majority of the area surrounding the Metallic Zone remains unexplored, with highly prospective areas along strike that have only recently been exposed by glacial abatement, and offers further targets for future exploration with an excellent potential for additional discoveries. 

 

Metalworks Zone:

 

Approximately 500 meters to the north along the Inca Trend, also in an area of recent glacial abatement, newly exposed outcrop containing high grade polymetallic mineralization occurs in the Metalworks Zone, an area that measures 95 by 85 meters and remains open. In 2016, two days of prospecting in the Zone identified multiple sulphide-sulfosalt veins with massive lenses and quartz-carbonate veins with disseminated sulphides along contacts, fractures and faults in a localized dyke swarm. A massive galena vein along an intermediate-felsic volcanic contact swells up to 10cm wide with galena filling fractures in surrounding wall rock. Samples from the vein have returned values up to 6.36 grams per tonne gold, 182 grams per tonne silver, 1.5% copper, 31.0% lead and 29.9% zinc.

 

Emplacement of dykes also serves as ground preparation for mineralization by creating conduits for mineralizing fluids and a site prone to faulting in the otherwise homogenous sequence of massive volcanic flows and volcaniclastic layers. A bedrock grab taken from a parallel set of sulphide veins returned 5.82 grams per tonne gold, 100 grams per tonne silver, 1.0% copper, 13.6% lead and 12.6% zinc. Approximately 50 meters down strike a bedrock grab sample returned 12.5 grams per tonne gold, 70 grams per tonne silver, 0.5% copper, 7.45% lead and 4.65% zinc. The Metalworks Zone is adjacent to a glacier and has only recently been uncovered. Within the zone multiple veins, lenses and breccias have been found and sampled, producing multi-gram per tonne gold, over 100 grams per tonne silver and over 1.0% copper, lead and zinc, all exposed in bedrock. Mineralization to the north of the zone in lower elevations is overprinted by pervasive potassic alteration. Phreatic hydrothermal quartz-calcite breccia occurs adjacent to an extensive 25cm wide vein in the southern part of the Metalworks Zone and has returned 100 grams per tonne silver and 0.37% copper. A larger, more extensive hydrothermal phreatic breccia greater than 25 meters wide was observed in a cliff face near the Olympus Showing and remains to be sampled.

 

Olympus Showing:

 

The newly discovered Olympus Showing is located approximately one kilometer to the northeast of the Metalworks Zone. The area around the Olympus Showing has received less than half a day prospecting but already shows similar characteristics to the Metallica and Metalworks Zones. Samples have returned up to 3.43 grams per tonne gold, 0.13% copper, 0.78% lead, and 0.11% zinc.

 

Gold-silver-polymetallic mineralization is characteristic of transitional or intermediate sulphidation mineralization, likely resulting from hydrothermal fluids in the waning stages of magmatic activity or from later intrusions. In BC, the Brucejack and Snip deposits are considered to be a transitional to intermediate sulphidation epithermal deposits as stockwork vein systems with gold and silver hosted in quartz-carbonate veins. The geochemical signature that is apparent following 2016 prospecting in the Inca Trend is dominated by gold-silver and copper-lead-zinc with high arsenic-antimony-mercury and elevated to strongly elevated barium, bismuth, cadmium, cobalt and manganese and would suggest a subvolcanic epithermal source. Multiple samples have produced over 1% antimony and 0.1% cadmium, up to 223 parts per million mercury, 1.98 parts per million tellurium and 3,950 parts per million arsenic.

 

The Empire property overlays a sequence of bimodal volcanics and volcaniclastic sediments of the Hazelton Group near the equivalent facies identified to host mineralization at Eskay Creek. Subaqueous hot-spring VMS-hybrid deposits such as Eskay Creek can occur genetically with epithermal mineralization often represented as a submarine equivalent to a surface sinter deposits with ore mineralogy and chemistry more characteristic of epithermal mineralization. At Eskay Creek, antimony, arsenic, mercury and barium are characteristic of the high-grade ore, and high grade stringer mineralization is consistent with low-sulphidation epithermal veins. There is a strong potential for Eskay Creek-style mineralization on the property. The necessary submarine environment is indicated by the presence of locally pillowed volcanics.

 

Ores of epithermal-related deposits are determined by environment at the time of mineralization, degree of wall rock interaction with mineralizing fluids, and proximity to the magmatic source. Epithermal-related deposits form proximal to volcanic centers. Alteration often shows overprint of different alteration assemblages as magmatic source migrates or cools and as subsiding caldera collapses, juxtaposing different points in the stratigraphic column through normal faulting. On the Brucejack deposit near Stewart, BC, progressive development and telescoping of the porphyry system in the volcanic pile resulted in a widespread zonation of porphyry-style alteration and mineralization with later epithermal mineralization superimposed on earlier porphyry-associated alteration and mineralization. Potassic alteration, characterized by K-feldspar, occurs at Eskay Creek, especially in the footwall alteration zone. Recent work and research done in the area by the BC geological survey identified gold-silver-copper-lead-zinc mineralization in the region to be consistent with transitional vein systems like the Snip mine. That same BCGS work identified four sites of sulphide mineralization in the northern region of the Empire Claim Block, where two sites returned over 100 grams per tonne silver and over 1.0% copper. 

 

Mineralization within the Inca Trend is hosted in a bimodal volcanic succession of massive andesite and dacite flows with lesser basalt and rhyolite, at a center of prolonged subvolcanic activity and localized emplacement of numerous felsic and intermediate dykes. Based on alternating orientations crosscutting different dykes that sill and radiate out, the region along the Inca Trend may have formed as feeder zones to volcanism and potential proximal VMS vent systems. Geological field observations suggest a local volcanic center with extensive latter normal faulting. The region portrays an ideal setting for epithermal mineralization and Eskay Creek style subaqueous hot-spring mineralization. Local dyke swarms are notable features in epithermal-related deposits including at the Silbak Premier mine and Eskay Creek. Massive sulphide and sulfosalts to semi massive globular disseminations occur in quartz-carbonate veins focused along contacts, filling any point of dilation in the extensively faulted and fractured Metallica and Metalworks Zones. Yellow-brown ankeritic alteration halos form in carbonatized wall rock with lesser pyrite-sericite-quartz around mineralized sites. Alteration halo ranges from narrow and restricted to greater than 2 meters; in some cases, where host rock is more permeable alteration persists through the entire unit producing notable gossan which is variably mineralized. Within the succession are intervals of tuffaceous and volcaniclastic units.  These are also permeable units that mineralizing fluids can migrate along, typically forming lower grade but larger bulk tonnage deposits.

 

Babylon Trend:

 

Approximately 3 kilometers southeast of the Inca Trend is the 1.6 kilometer by 1 kilometer Babylon Trend that remains open. Within the Babylon Trend numerous bedrock samples strongly elevated in gold-silver and base metals were collected in areas of newly exposed outcrop as a result of recent glacial abatement. These grab samples taken from outcrop in an area of extensive surface mineralization assayed up to 2.81 grams per tonne gold, 1860 grams per tonne silver, 3.1% copper and 2.86% zinc. Within the Babylon Trend pervasive zones of potassic and lesser chloritic alteration is often associated with polymetallic mineralization focused along contacts, fractures, shears and faults, and likely related to remobilization of prior mineralization. Disseminated globules of chalcopyrite and pyrite occur in altered rhyolite locally with tennantite and tetrahedrite along fractures with malachite and azurite staining. Copper staining is seen sporadically through the Babylon Trend, often with potassic alteration.

 

Work on the property has been very limited, with only 4 days prospecting. A significant exploration program is required to determine the full extent and characteristics of the mineralization. The majority of the property remains unexplored, including key areas surrounding newly discovered zones of mineralization that remain open and large zones of gossans and outcrop newly exposed due to recent glacial abatement. prospecting program has discovered extensive high grade polymetallic mineralization yielding assay values up to 36,875 grams per tonne (1185.5 oz per ton) silver, 16.4 grams per tonne (0.53 oz per ton) gold, 27.6 percent copper, 33.9 percent lead and 29.98 percent zinc from bedrock. The Empire property exhibits epithermal-related mineralization in a bimodal volcanic succession with strong potential for Eskay Creek-style mineralization at depth. Mineralized zones identified in 2016 remain open in all directions.

 

Recommended work:

 

An extensive program of systematic mapping, prospecting and channel sampling is strongly recommended for each of the Metallica, Metalworks, Olympus and Babylon zones to trace the full extent of the surface mineralization. The Metallica, Metalworks and Babylon zones are expected to be drill-ready following a systematic program of detailed mapping, prospecting and channel sampling. Geophysics is also recommended to identify additional drill targets at depth.

 

Several other areas located well outside the discovery zones were observed from the air to contain gossans and dyke swarms near receding glaciers. These areas remain unexplored and have an excellent potential for additional discoveries. A significant prospecting program is therefore highly recommended. Other areas for follow-up include an extensive quartz-sericite-pyrite alteration zone in the west-central quadrant of the claim block and historic government samples in the northern quadrant from sulphide-sulfosalt mineralization. Prospecting is necessary in the unexplored reaches of the property and should focus on alternate dyke swarms, contact zones, and volcaniclastic horizons that are permeable sites to host mineralization. Airborne geophysics would also support regional prospecting across the property.

 

The majority of the Empire claim block is located in alpine regions with receding glaciers in a geologically favorable environment with extensive newly exposed outcrop that has strong discovery potential, as demonstrated in the few days prospecting during the August 2016 reconnaissance program. The property is close to infrastructure with access by logging roads and or existing trails through the property.The technical team believes this emerging area is similar historically to the early days of other significant global discoveries and may become one of the premiere metal producing areas in the world. Recent glacier abatement has opened up previously covered areas revealing exposed mineralization never seen before. The Empire property exhibits epithermal-related mineralization in a bimodal volcanic succession with strong potential for Eskay Creek-style mineralization at depth.

 

All of the precious metals properties staked in North West BC will be made available for option to qualified parties. For further information, interested parties may view project pictures, including property maps at WWW.GGXGOLD.COM located under “Properties” “Golden Triangle / J2 Syndicate”. Contact by email J2syndicate@gmail.com , or by telephone 604-488-3900

 

See news dated October 20th, 2016 for details of the agreement between GGX Gold (formerly Revolver Resources) and the J2 Syndicate.

 

GGX Gold Corp. looks forward, with great anticipation, to regularly disseminating news 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.

 

Technical Information

 

A total of 141 rock grab samples were taken on the Empire property in 2016. Rock grab samples ranged from below detection limit to 16.4 grams per tonne gold and 36,875 grams per tonne silver. There are no assays outstanding.

 

____Rein Turna_____, P. Geo. is a qualified person, as defined by National Instrument 43-101, for Revolver’s 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 millimetres, 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/ggxgold11102016.pdf

Source: GGX Gold Corp. (TSX Venture:GGX)

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