EXPLORATION & DEVELOPMENT

GT Gold rises on Saddle North discovery confirmation

Hits 363m at 1.81g/t AuEq within 904.12m at 0.98g/t AuEq

Staff reporter

This article is 6 years old. Images might not display.

The stand-out intersection reported was 363.1m at 1.02g/t gold, 0.51% copper and 1.72g/t silver, or 1.81g/t AuEq, within a broader 904.12m at 0.98g/t AuEq from 15m.

"Porphyry discoveries of this scale and tenor are uncommon," exploration vice-president Charles Greig said.

GT Gold said seven widely-spaced holes had targeted the porphyry this year, and all had achieved strong visual intercepts of the target mineralised monzodiorite over "considerable intervals".

The company raised more than C$6.4 million earlier this month and said it was fully funded into 2019 for the expansion drilling programme underway.

Greig said GT saw tremendous upside for expansion at Saddle North.

GT Gold's shares shot up more than 46% yesterday to C$1.14, valuing it close to $114 million.

They have spent much of this year around the 70c mark but had traded above $2 just over 12 months ago, as the company reported multiple high-grade intercepts at its Saddle South gold discovery.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.