Issue link: http://resourceworld.uberflip.com/i/855838
A U G U S T / S E P T E M B E R 2 0 1 7 www.resourceworld.com 65 Management of GGX Gold Corp. [GGX-TSXV] is pretty excited these days as numerous high-grade gold assays just keep coming from its flagship, past-producing, Gold Drop Project located nine km northeast of the historic mining camp of Greenwood, southeast British Columbia. The property is 100% optioned from Ximen Mining Corp. [XIM-TSXV]. Following the discovery of an anomalous quartz outcrop exposed by log- ging, an excavator trenching program has uncovered over 80 metres of vein on both sides of the old C.O.D. shaft where samples have returned assays that have ranged up to 19.65 g/t gold. The C.O.D. shaft, reported to be about 21 metres deep, was sunk around the year 1900 on a gold-bearing quartz vein. A 1988 diamond drill hole adjacent to the shaft was reported to inter- sect 7.4 g/t gold and 86.8 g/t silver over 0.75 metres (true width unknown). The newly-discovered vein remains open at both ends and the new Clare Extension, which is immediately northeast of the C.O.D. shaft, is on strike with a recently discovered outcrop located over 680 metres distant that returned 14.1 g/t gold. GGX is continuing the excavator program on the Clare Extension and is channel sampling to test the vein every 1.5 metres. Samples have been shipped to ALS Lab for assaying. "I am more than encouraged by the excavator trenching program on the Gold Drop which has recently exposed over 80 metres of vein adjacent to the C.O.D. shaft. As trenching progresses, and new assays from the chan- nel sampling program are reported, I expect we will gain a much better understanding of the mineralized vein structures which are prevalent on the property," said Barry Brown, President of GGX Gold. The program is being conducted at the Gold Drop Southwest Zone, for- merly the reverted C.O.D. Crown grant, where the shaft was sampled in the early 1930s and returned a sample reported to be 0.75 oz/ton gold (23.33 g/t). The Gold Drop property covers geologically prospective ground and hosts numerous low-sulfide, gold and silver-bearing quartz veins or vein systems, four of which were previously mined (Gold Drop, North Star, Amandy and Roderick Dhu veins). Historical production from Armandy, North Star and Gold Drop was 7,572 tonnes averaging 5.2 g/t gold and 93.4 g/t silver. Historical expenditures on the property totaled some $10 million (in today's dollar terms) and, more recently, Ximen spent $1 million. Power is available on the property. GGX recently staked more claims and the land package now comprises 4,200 hectares. To date, 200 metres of trenching have since exposed over 160 metres of the C.O.D. vein in the Gold Drop Southwest Zone. There are 15 proposed drill holes targeting the Dentonia/Jewel-style quartz vein from five drill pads at various locations along the long trench. The drill has now mobilized to the first drill pad and drilling is under way. GGX has acquired a processing plant, equipment and related assets that include a proprietary mobile ore sampler involving a process for on-site col- lecting, reducing and concentrating minerals from host rock. This mobile platform enables the miner to perform bulk sample testing directly at the mine site. n GGX Gold: past producer yielding good gold assays MINING Berukoff acquired Vatukoula from Emperor Mines and then sold it with proceeds directed to the Tuvatu Project. Fijians were eager to get the Vatakoula Mine operating again after the 2007 closure since so many people depended on its continued produc- tion for their livelihoods. With a similar gravity signature to the Vatakoula gold mining area, the entire Navilawa Caldera is under application by Lion One Metals to expand the mineral tenement base for its Tuvatu Gold Project, in addition to a large exploration license. Even without the extra land holdings, the current resource model at Tuvatu suggests a mine life of at least seven years. Future high-grade gold production is estimated at 262,000 ounces at 15.30 g/t gold for three years, and 352,000 ounces at 11.30 g/t through year seven, based on a gold price of US $1,200/oz. Estimates in 2012 for Tuvatu for inferred resources were 480,000 ounces of gold from 2,618,000 tonnes grad- ing 5.71 g/t gold, and indicated resources of 172,000 ounces from 760,000 tonnes grading 7.05 g/t gold. An advantage for mining in Fiji is that the workers from Vatukoula have years of expertise in narrow vein mining. This is crucial in places where high-grade veins might occur, such as the recent inter- section in drill hole TUDDH406, which yielded 71.41 g/t gold over 8.41 metres, including 126 g/t gold over 4.5 metres. Although gold is generally evidenced in the Navilawa Intrusive Complex over a large area with at least 1.00 g/t gold, some veins are studded with visible crystalline gold. As Berukoff said in the interview, "It's a jewel box!" He said now that the Tuvatu Mine has permits in hand, it has the potential to be the "greenest gold mine yet" with its plan to mine under- ground and have dry stacking of tailings to preserve environmental integrity of the tropical paradise that is Fiji. Berukoff con- cluded, "It's a culmination for me in the past 40 years, the best project in my expe- rience." n Lion One CEO Walter Beruko, left, and Lion One Managing Director Stephen Mann, centre. Photo courtesy Lion One Metals Limited.