VANCOUVER, British Columbia, June 24, 2020 (GLOBE NEWSWIRE) -- GT Gold Corp. (TSX-V:GTT) (the “Company” or “GT Gold”) is pleased to announce it is mobilizing for the commencement of the 2020 exploration season at the Tatogga Property (“Tatogga”) located in the Golden Triangle of northern British Columbia. All field work will be conducted in compliance with the Company’s robust COVID-19 prevention plan and in accordance with both the Provincial regulatory requirements as well as the guidance provided by the Tahltan Nation COVID-19 Emergency Management Team.
The 2020 exploration program will initially focus on diamond drill-testing new greenfield exploration targets in the Quash Pass area, where two large-scale anomalous trends and several adjacent individual targets have been identified. The Quash Pass target area is located approximately seven kilometres southwest of the known mineralization at Saddle North and Saddle South. The Company will be mobilizing the field team for site preparation over the next two weeks, with drilling anticipated to begin in late July 2020.
“We’re very pleased to be initiating our 2020 field program at Tatogga,” commented Paul Harbidge, President and CEO. “Our primary goal is to keep everyone safe and we will be conducting our work with utmost commitment to the protection of our employees and local communities.”
Saddle North Technical Update
The Company is finalizing the initial mineral resource estimate for the Saddle North gold-rich copper porphyry discovery. Due to national holidays in both Canada and the United States of America during the week commencing June 29, a public release date for the mineral resource estimate is planned for after market close on Monday, July 6, 2020. A related National Instrument 43-101 compliant technical report will be filed within the regulatory required time limits, the data for which will underpin a Preliminary Economic Assessment for Saddle North, expected to be released by year-end 2020.
About GT Gold
GT Gold is focused on exploring for base and precious metals in the geologically fertile terrain of British Columbia’s renowned Golden Triangle. The Company’s flagship asset is the wholly-owned, 46,827 hectare Tatogga property, located near Iskut, British Colombia, upon which it made two significant discoveries in 2017 and 2018 at its Saddle prospect: a precious metal rich vein system at Saddle South and a gold-rich copper porphyry system at Saddle North.
For further information, please contact:
| GT Gold Corp. Paul Harbidge President and Chief Executive Officer Tel: (236) 427 5744 Website: www.gtgoldcorp.ca | GT Gold Corp. Shawn Campbell Chief Financial Officer Tel: (236) 427 5744 |
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. Neither the 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.