VANCOUVER, British Columbia, Aug. 10, 2020 (GLOBE NEWSWIRE) -- GT Gold Corp. (TSX-V:GTT) (the “Company” or “GT Gold”) is pleased to announce that, as of last Thursday, August 6, exploration drilling has commenced at the Company’s 100%-owned Tatogga property in northern British Columbia, Canada.
The 2020 exploration program will comprise approximately 10,000 metres of diamond drilling, initially focused on 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 is committed to the protection of all employees and local communities. All work is conducted according to the Company’s robust COVID-19 plan and mitigation measures are in effect. An on-site organizational response team is in operation including a Primary Care Paramedic, as well as comprehensive on-site prevention practices, surveillance and monitoring measures.
Saddle North NI 43-101 Technical Report
On July 6, 2020, the Company released an initial mineral resource estimate for the Tatogga property Saddle North project comprising an indicated resource containing 1.81 Blb copper and 3.47 Moz gold (298 Mt grading 0.28% copper and 0.36 g/t gold) and an inferred resource containing 2.98 Blb copper and 5.46 Moz gold (543 Mt grading 0.25% copper and 0.31 g/t gold). A related National Instrument 43-101 compliant technical report will be filed on or before August 20, 2020, within the regulatory 45 days following the release of the mineral resource.
About GT Gold
GT Gold is focused on exploring for base and precious metals in the geologically prolific 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 Columbia, 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.