EXPLORATION & DEVELOPMENT

GGX announces highlight at Gold Drop

Hits 2.05m at 50.1g/t gold and 375g/t silver

Staff reporter
Explorer hits 2.05m at 50.1g/t gold and 375g/t silver

Explorer hits 2.05m at 50.1g/t gold and 375g/t silver

The result was among the latest from drilling to test the COD vein and also included 0.46m at 167.5g/t gold, 1,370g/t silver and more than 500g/t tellurium.

The company said the 2.05m intersection was a fresh highlight, ahead of an earlier 2.1m at 14.62g/t gold, 150.2g/t silver and 102g/t tellurium also at the COD vein.

GGX entered an option agreement to acquire a 100% interest in Gold Drop in mid-2016.

The company, formerly Revolver Resources, reported a net loss of C$1.9 million (US$1.4 million) at March 31 as exploration expenses increased.

It raised C$395,600 (US$300,000) in June then a further $362,000 (US$276,000) last month in private placements, saying it had sufficient funds to complete its planned summer exploration programme at Gold Drop.

Shares in the company have slid from C20.5c a year ago to 7c last month.

They rose 1.5c, or more than 13% yesterday, to 12.5c.

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.