VANCOUVER, British Columbia, Jan. 06, 2023 (GLOBE NEWSWIRE) -- GGX Gold Corp. (TSXV:GGX) (OTCQB:GGXXF) (FSE:3SR), in response to the recent interest in tellurium, has provided an update on its Gold Drop property in southern British Columbia. The 100% owned Gold Drop Property, is located 3 kilometers north of Greenwood, in the prolific Greenwood mining camp, which has a long history of mining having produced 1.4 million ounces gold, 10 million ounces silver and 0.7 billion pounds copper.
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A review of previous analytical results shows that elevated tellurium is associated with high gold concentrations in the C.O.D., Perky, and Ken veins. However, data are limited because tellurium analyses were not routinely performed prior to 2018. As such, Tellurium values remain unknown over much of the property and could be present in significant amounts in other known gold-rich veins.
A comprehensive review of tellurium results is underway and a plan for re-sampling is being laid out to quantify the tellurium concentrations, which were as high as 994 ppm in drill intercepts and greater than 500 ppm in rock samples.
Although the source of the tellurium at Gold Drop is unknown, tellurium is associated with gold mineralization world-wide in deposits associated with alkaline to subalkaline igneous host rocks. The area surrounding the gold-tellurium enriched C.O.D., Perky and Everest veins is of particular interest because several lineaments have been identified recently on the digital elevation model that strike parallel to the C.O.D. vein. These lineaments are interpreted as fractures and faults that could host parallel gold-tellurium bearing veins.
Drilling targets are now being re-evaluated for 2023.
Barry Brown, CEO, stated: “Critical minerals are essential to powering the clean energy transition to a low-carbon and digitalized economy. Current projections for significantly increased demand of critical minerals are far overwhelming current supply. Canada has made it a priority to foster domestic critical mineral exploration, and GGX Gold Corp. will endeavour to take full advantage of the opportunity that lies ahead with a focus on tellurium as well as gold.”
Tellurium is one of 31 minerals included in Canada’s Critical Minerals Strategy. This Strategy, backed by nearly $4 billion in Budget 2022, sets out a course for Canada to become a global supplier of choice for critical minerals and the clean digital technologies they enable.
The largest use of tellurium in the past decade has been in the manufacture of thin-film photovoltaic solar panels. Researchers are currently finding that electrodes made from tellurium can improve the energy storage and power output of rechargeable lithium-ion batteries. The forecasted demand for tellurium already exceeds global supply, without the added demand from the battery industry.
The shares are trading at $0.075. For more information, please visit the company’s website at www.GGXgold.com, contact Barry Brown, CEO, at 604-488-3900 or email office@GGXgold.com or for investor relations email IR@GGXgold.com.
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