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#Gold rises, tries to regain grip on $1,300 level, bodes well for $AMK.ca $EXS.ca $GGX.ca $GR.ca $GZD.ca $MQR.ca

Posted by AGORACOM-JC at 9:37 AM on Thursday, October 12th, 2017

Silver futures up 12 cents, or 0.7%

 

Gold on the rise.

  • Gold futures rose Thursday, pushing the yellow metal toward $1,300 as investors read minutes from the Federal Reserve’s September policy meetings as slightly dovish
  • Offering a lift to the commodity
  • December gold GCZ7, +0.43% was $8.80, or 0.7%, higher at $1,297,
  • Flirting with its highest settlement since Sept. 26 at $1,301.70, according to FactSet data.

An account of the most recent meeting of the Federal Open Market Committee, released after gold futures settled on Wednesday, showed signs that policy makers questioned the need for an interest-rate hike in December—though one appears likely—as levels of inflation continued to track below the central bank’s 2% annual target.

Although the market’s reaction was relatively subdued, the minutes suggest that Chairwoman Janet Yellen and other policy makers will increase interest rates once more in December, but that efforts to normalize policy will otherwise run at a gradual pace.

A measured rate of interest-rate increases can be supportive for gold, which doesn’t offer a yield. Wall Street is pricing in an 83% chance of a rate increase in December, compared with a nearly 88% probability the day before, according to CME Group data.

Meanwhile, a popular dollar gauge, the ICE U.S. Dollar Index DXY, +0.19% was trading flat at 93.029. Gold prices are on track to climb for four of the past five sessions, as the dollar has weakened 0.8% over the week. A softer buck can make commodities priced in the currency more appealing to buyers using weaker monetary units.

Elsewhere, silver for December delivery SIZ7, +0.30% added 12 cents, or 0.7%, to trade at $17.255 an ounce, and is on track to rise five of the past six sessions. The silver-focused ETF, the iShares Silver Trust SLV, -0.18% was little changed.

Mark O’Byrne, research director at GoldCore Ltd, said recent gains can also be attributed to expected seasonally stronger demand for gold by India heading into the Diwali holiday, or Deepavali, as well as geopolitical tensions tied to North Korea, the Middle East and U.S. President Donald Trump. Tensions between Iraq and Kurds in the region have escalated after a Kurdish independence referendum, while Trump’s belligerent rhetoric with North Korean leader Kim Jong Un has had investors on edge.

“Against this global macro backdrop, I do think that we possible we will push $1,400 [an ounce], and then close above $1,300 by year-end,” he said.

Source: http://www.marketwatch.com/story/gold-rises-tries-to-regain-grip-on-1300-level-2017-10-12

Gold retakes $1,300 level for first time in 9 months $AMK.ca $EXS.ca $GGX.ca $GR.ca $GZD.ca $MQR.ca $OPW.ca

Posted by AGORACOM-JC at 11:50 AM on Friday, August 18th, 2017

  • Gold futures on Friday were trading above $1,300 for the first time in 2017 and were on track for their third straight daily gain, as precious metals drew haven demand
  • Sparked by a selloff in a global equities, a terrorist attack in Barcelona and concerns about President Donald Trump’s pro-business agenda

Gold for December delivery GCZ7, +0.60%  gained $8.60, or 0.7%, at $1,301.90 an ounce, marking the highest level for a most-active contract since Nov. 4, according to FactSet data. The yellow metal also is on pace for a weekly gain of about 0.5% based on last Friday’s closing level.

Meanwhile, September silver SIU7, +0.25%  also rose, picking up 12 cents, or 0.7%, at $17.170 an ounce, on track for a weekly gain of about 0.6% and its highest closing level since around June.

A flight to assets perceived as safe has been underpinned by Thursday’s selloff in equities, highlighted by the worst downdraft for the Dow Jones Industrial Average DJIA, -0.28% and S&P 500 index SPX, -0.16%  since May 17.

Selling accelerated on Thursday, and threatened to continue to undercut sentiment on Friday, after a van plowed into crowds in one of Barcelona’s tourist venues, killing at least 13 people and injuring scores. Islamic State has claimed responsibility for the terror attack.

So-called risk assets, like stocks, had been riding higher drawing concerns that equities have become too richly priced making them vulnerable to a sharp slide after a run of repeated records and an erosion of confidence in Trump’s ability to enact policies that would help to boost the U.S. economy.

Markets were roiled Wednesday by unfounded rumors that presidential economic adviser Gary Cohn, a former Goldman Sachs executive, was set to resign his post as White House economic adviser in response to the president’s reaction to a white-supremacist rally that left one woman, Heather Heyer, dead. Trump’s response to the rally has caused a furor among business leaders.

That political turmoil has thrown into question Trump’s ability to follow through on campaign promises, including pledges on deregulation, tax cuts and a boost to infrastructure spending that had helped propel risk assets higher and gold lower.

However, mounting headwinds in the stock market have provided a path for gold and Treasury notes to climb higher.

The 10-year Treasury note TMUBMUSD10Y, -0.60%  was recently yielding 2.19%, compared with about 2.24% at the start of the week. Bond prices move inversely to yields.

Lower bond yields can help to support buying of precious metals, which don’t offer a yield.

Weakness in the U.S. dollar, buffeted by the trove of risk factors, including concerns that the Federal Reserve will be hesitant to lift interest rates further this year, also has helped to lift gold’s price. The ICE U.S. Dollar Index DXY, -0.24% which measures the buck against six rival currencies, was off 0.1% and down on the day, although it has climbed 0.5% this week.

A softer dollar makes purchasing assets priced in the currency more attractive to buyers using weaker monetary units.

In exchange-traded funds, SPDR Gold Shares GLD, +0.45%  was up 0.5%, the miner-focused VanEck Vectors Gold Miners ETF GDX, +1.24% gained 1% and iShares Silver Trust SLV, +0.25%  was trading 0.7% higher.

Source: http://www.marketwatch.com/story/gold-retakes-1300-level-for-first-time-in-9-months-2017-08-18?siteid=

Far East Tensions Cause Gold Prices to Perk, GREAT News for…$AMK.ca $EXS.ca $GGX.ca $GR.ca $GZD.ca $MQR.ca $OPW.ca

Posted by AGORACOM-JC at 12:34 PM on Friday, August 11th, 2017
  • Gold soared to two-month highs on Friday, as investors of all stripes sought refuge from the uncertainty of escalating tensions between North Korea and the United States

U.S President Donald Trump warned North Korea again on Thursday not to strike Guam or U.S. allies, saying his earlier threat to unleash “fire and fury” on Pyongyang if Kim Jong-un launched an attack may not have been tough enough.

Spot gold was up 0.3% at $1,290.36 U.S. per ounce, set for its biggest weekly gains since April. It earlier hit its highest since June 8 at $1,288.97 U.S. an ounce.

Geopolitical risks can improve demand for assets considered safe-haven investments such as gold.

Silver added 0.4% to $17.15 U.S. per ounce after hitting $17.24, its highest since June 14, in the previous session. It was on course for an over 5% weekly rise, the highest such gain since July 2016.

Platinum climbed 1.2% to $987.70 U.S. per ounce after touching $984.60 U.S. during the session, its highest since April 18. It was up about 2% for the week so far.

Palladium climbed 0.3% to $899.50 U.S. per ounce and was on track to end the week 2.3% higher.

Source: http://www.baystreet.ca/commodities/1212/Far-East-Tensions-Cause-Gold-Prices-to-Perk

U.S. Dollar Index Crashes by Most in 6 Years $AMK.ca $EXS.ca $GGX.ca $GZD.ca $MQR.ca $OPW.ca

Posted by AGORACOM-JC at 6:19 PM on Wednesday, August 2nd, 2017
  • So far year-to-date in 2017, the U.S. Dollar Index has crashed by more than 10% from 103.30 down to 92.89.
  • Last time that the U.S. Dollar Index declined by 10% or more in a period of 151 trading days was back on April 29, 2011. Gold at the time was trading for $1,540.25 per oz and over the following four months it soared by $354.75 per oz or 23% to a new record high of $1,895 per oz.

Historically, from 1971 through today, when the U.S. Dollar Index declines by 10% or more during a period of 151 trading days, gold over the following 12 months has gained by a median of 18.7%. To the contrary, when the U.S. Dollar Index gains by 10% or more during a period of 151 trading days, gold over the following 12 months has declined by a median of -0.24%. Click here to see for yourself!

Source: http://inflation.us/us-dollar-index-crashes-by-most-in-6-years/

GGX Gold Launches Phase Two Drilling Program $GGX.ca

Posted by AGORACOM-JC at 9:45 AM on Tuesday, August 1st, 2017

Ggx large

  • Completion of the first phase of drilling and the beginning of phase two drilling on the Gold Drop Property near Greenwood, BC
  • Targeting the C.O.D. Vein, a Dentonia/Jewel style gold and silver bearing quartz vein in the Gold Drop Southwest zone

The Gold Drop Property Greenwood BC

VANCOUVER, BC / August 1, 2017 / GGX Gold Corp. (TSXV: GGX) (the “Company” or “GGX”) GGX Gold is pleased to announce the completion of the first phase of drilling and the beginning of phase two drilling on the Gold Drop Property near Greenwood, BC. The drill program is targeting the C.O.D. Vein, a Dentonia/Jewel style gold and silver bearing quartz vein in the Gold Drop Southwest zone.

To view an image of the Gold drop zone, please click on the following link:

https://www.accesswire.com/uploads/18039_ggximage1.jpg

The first phase of diamond drilling consisted of 15 drill holes totaling 2500 feet (762 meters). The drilling commenced south of the C.O.D. mine shaft and progressed systematically to the north. The first phase of drilling was to confirm mineralization in the first section of the exposed vein under the series of channel samples that were completed and announced on July 19, 2017. As well the company wanted to determine depth and the dip of the vein exposed at surface. Drilling to date has confirmed the vein to a vertical depth of 120 feet (36.6 meters), being open at depth. The first phase of drilling also intersected additional unexpected veining of which additional drilling is required to delineate. Of note, drill hole COD17-14 (which was drilled at 75° dip perpendicular to the surface vein) intersected a 55 foot (16.8 meters) core length interval of intensely mineralized quartz vein(s). Pyrite, chalcopyrite, possible telluride and visible gold have been observed in the COD17-14 drill core.

To see am image of core length, please click on the following link:

https://www.accesswire.com/uploads/18039_ggximage2.jpg

Drill core is being geologically logged and sampled at the Greenwood facility. Core samples are being delivered to the ALS Minerals laboratory in Vancouver to be analyzed for gold by screen metallic fire assay and for 48 other elements by Four Acid and ICP-MS. Quality control (QC) samples are inserted at regular intervals.

To view an image of cores being logged, please click on the following link:

https://www.accesswire.com/uploads/18039_ggximage3.jpg

Upon a review of the first 15 drill holes which had encouraging visual results from down hole intercepts, combined with the positive results received from the second batch of channel samples announced July 26, 2017, management has initiated a second phase drill program.

To view an image of a core sample, please click on the following link:

https://www.accesswire.com/uploads/18039_ggximage4.jpg

The second phase of diamond drilling will consist of up to 30 drill holes continuing to test the northern extension of the C.O.D. vein.

Earlier this year The Company exposed 160 meters of the C.O.D Vein by means of excavator trenching. The vein is still open in both directions. The vein has been channel sampled at 1.5-meter intervals across an average sample width of one meter. To date analytical results for 68 channel samples have been received, with samples returning anomalous to high-grade values for gold, up to 43.2 g/t Gold and 224 g/t Silver (News release of July 26, 2017).

The Company also announces it has granted 800,000 options at an exercise price of $0.20. The options are exercisable for five years and will be canceled 30 days after cessation of acting as director, officer, employee or consultant of the Company.

To view a map of the region, please click on the following link:

https://www.accesswire.com/uploads/18039_ggximage5.png

David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.

On Behalf of the Board of Directors,

Barry Brown, Director

604-488-3900

Investor Relations:

Mr. Jack Singh: 604-720-6598 E-mail: ir@ggxgold.com

“We don’t have to do this, we get to do this “

The Crew

Forward Looking Information

This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, the Company’s information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks including that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed at the Gold Drop Property. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

 

Neither 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.

GGX Gold’s First 16 Channel Sample Results All Come Back Anomalous for Gold and Silver up to 6.12 g/t Gold and 72.8 g/t Silver, C.O.D. Vein $GGX.ca

Posted by Er at 11:04 AM on Wednesday, July 19th, 2017
  • Sampling covered distance of 30m of newly exposed C.O.D. vein
  • Trenching 3.97 g/t au & 28.8g/t ag # S423770
  • Trenching 6.12 g/t au & 72.8 g/t ag # S423776

Historic Gold Camp Greenwood BC

VANCOUVER, BC / July 19, 2017 / GGX Gold Corp. (TSXV: GGX) (OTC PINK: GGXXF) (the “Company” or “GGX”) is pleased to announce receipt of the first batch of channel sample analytical results from the current program of channel sampling along the C.O.D. vein in the Gold Drop Southwest Zone. To date trenching has exposed over 160 meters of this vein. The first batch of channel samples came from the southern extent of the C.O.D. vein. The samples, collected across the vein covered a total of 30 meters at approximately 1.5 meter intervals. These samples taken across the vein were approximately 1 meter long.

To view an image of the Vein area where the sample was taken, please click on the following link: https://www.accesswire.com/uploads/GGX%20July%2019%201%20new.jpg

Samples were submitted to ALS Minerals and analyzed for gold by screen metallic fire assay and for 33 elements (including silver) by four acid and ICP-AES. The samples returned significant gold and silver values. All of the samples were anomalous in gold ranging from 0.24 g/tonne to 6.12 grams per tonne gold. GGX Gold has submitted an additional 52 channel samples for analysis. The Company is continuing its sampling program along the C.O.D vein and will be submitting further samples in the days ahead. Samples and corresponding gold and silver analyses from the first batch of channel samples are listed in Table 1.

The Company is currently drilling and will provide an update of drilling activities shortly

To view images of the Sample being cut out of the vein, please click on the following links:

https://www.accesswire.com/uploads/GGX%20july%2019%202%20new.jpg

 

https://www.accesswire.com/uploads/GGX%20July%2019%203%20new.jpg

Table of the first 16 C.O.D. Channel Sample Results

  • Channel Sample Intervals were taken every 1.5 Meters
  • Samples were taken over 1 meter across the Vein
SAMPLE Au Total (+)(-) Combined Ag
DESCRIPTION g/tonne g/tonne
S423761 0.48 4.3
S423762 0.45 3.4
S423763 1 7
S423764 0.64 6.3
S423765 4.16 37
S423766 2.63 19.9
S423767 2.38 26.4
S423768 2.62 31.4
S423769 0.93 11.4
S423770 3.97 28.8
S423771 0.72 6.3
S423772 0.51 3.7
S423773 0.56 5.8
S423774 0.24 1.8
S423775 1.32 9.1
S423776 6.12 72.8

David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.

On Behalf of the Board of Directors,

Barry Brown, Director
604-488-3900

Investor Relations Contact:
Mr. Jack Singh
604-720-6598
E-mail: ir@ggxgold.com

Excavator Program Exposes Vein over 160 Meters Multiple Showings of Visible Gold on the Gold Drop Property Historic Gold Camp Greenwood BC $GGX.ca

Posted by AGORACOM-JC at 10:32 AM on Tuesday, July 4th, 2017

  • Excavator Program Exposes Vein over 160 Meters Multiple Showings of Visible Gold
  • Trenching program has now doubled the size of exposed Vein from 80 meters as reported in the June 15th News Release to 160 Meters and it appears to continue along strike

Vancouver, British Columbia (FSCwire)GGX Gold Corp. (TSXV: GGX) (the “Company” or “GGX”) is pleased to announce its excavator trenching program has now doubled the size of exposed Vein from 80 meters as reported in the June 15th News Release to 160 Meters and it appears to continue along strike. The vein is located in the Gold Drop Southwest Zone. As well the company is continuing to channel sample the newly exposed area. The company plans to begin a drilling program shortly and has spotted the first 15 holes along the newly exposed Vein. Drill pads are being constructed and discussions have been underway with contractors.

 

To view the graphic in its original size, please click here

 

The company also would like to report that there have been multiple locations were visible Gold has been spotted in bedrock throughout the property. As such the company is currently in the process of increasing security in various locations in and around the property with Wireless cameras and fencing.

 

To view the graphic in its original size, please click here

 

To view the graphic in its original size, please click here

 

The Gold Drop property covers geologically prospective ground in the well-mineralized Greenwood Mining Division. The property 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).

 

To view the graphic in its original size, please click here

June 2017 Trenching at Gold Drop Southwest Zone (area of historic C.O.D shaft)

 

David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.

 

On Behalf of the Board of Directors,

 

Barry Brown, Director

 

604-488-3900

 

Forward Looking Information

 

This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, the Company’s information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks including that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed at the Gold Drop Property. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

 

Neither 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.

GGX Gold Announces Purchase of Proprietary Mobile Processing Plant for Gold Drop Property Historic Gold Mining Camp Greenwood BC $GGX.ca

Posted by AGORACOM-JC at 8:27 AM on Thursday, June 29th, 2017

  • Amended terms of its asset purchase agreement with Munroe Materials Inc. a private Manitoba corporation
  • Assets to be acquired from Munroe include a processing plant, equipment and related assets

GGX Gold Announces Purchase of Proprietary Mobile Processing Plant for Gold Drop Property Historic Gold Mining Camp Greenwood BC

Vancouver, British Columbia (FSCwire)GGX Gold Corp. (TSXV: GGX) (the “Company” or “GGX”) is pleased to announce amended terms of its asset purchase agreement (the “Amended Agreement”) with Munroe Materials Inc. (“Munroe”), a private Manitoba corporation.

To view the graphic in its original size, please click her

Pursuant to the Amended Agreement, Munroe and the Company agreed to reduce the purchase price of the Assets (defined below) from $250,000 to $200,000 and for the remaining $150,000 due ($50,000 paid to date) under the Amended Agreement to be paid by the Company through the issuance of 750,000 common shares at a deemed price of $0.20 per common share.

Assets to be Acquired

The assets to be acquired from Munroe include a processing plant, equipment and related assets (the “Assets”).  The equipment consists of a proprietary mobile ore sampler involving a unique process for onsite collecting, reducing, and concentrating minerals from host rock. This mobile platform enables the miner to perform bulk sample testing directly at the mine site, or on a promising mineralized outcrop. The system can be modulated for speed and can process up to 5 tons of ore per hour. This process curtails the need for a tailings pond as all water is recycled.

GGX intends to use the Assets for exploration on its Gold Drop Property to help in determining the economic potential of multiple quartz veins throughout the property.

To view the graphic in its original size, please click here

About Munroe Materials Inc.

Munroe is a private Manitoba company in the business of developing innovative mineral processing plants. Munroe has certain intellectual property related to the processing of ore. GGX and Munroe intend to explore the possibility of patenting this process.

GGX expects to complete the purchase of the Assets on or before the end of July 2017. Further details of the Assets will be provided when GGX completes such purchase. There can be no assurance that the acquisition of the Assets will be completed as proposed or at all.  See the Company’s news release on March 27, 2017 for further details.

On Behalf of the Board of Directors

Barry Brown, Director

604-488-3900

Forward Looking Information

This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, the Company’s information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks including that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed at the Gold Drop Property. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

 

Neither 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.

Bright Outlook For Gold and The following $AMK.ca $EXS.ca $GGX.ca $GR.ca $MQR.ca $OPW.ca

Posted by AGORACOM-JC at 11:51 AM on Wednesday, June 21st, 2017

Several analysts point out that the outlook for gold and, by association, gold stocks, is bright despite rising US interest rates.

  • Demand in India and China rebounds sharply in recent months
  • Trend towards increased use of scrap gold reverses over past five years
  • Divergence in cash costs between USD and non-USD denominated companies

By Eva Brocklehurst

Gold retains a role as both an investment and defensive asset and analysts believe it will remain an important part of portfolios for both the private sector and central banks. Gold is a store of wealth in unstable times and such times prevail.

ANZ analysts expect increased political uncertainty in the US will support gold in the short term despite higher interest rates. Gold prices are forecast to push past US$1300/oz over the next 12 months and there are positive long-term prospects as well.

In the wake of the US Federal Reserve’s recent increase to its Fed Funds rate, and if the three rate rises in the current cycle are anything to go by, Bell Potter also considers the outlook positive for gold. Typically, rising interest rates are considered negative for gold because of the increased opportunity cost of holding an asset with no yield. As the gold price is appreciating amid rising interest rates in the US this signals to the broker that both inflation and safe-haven trade are key themes in the gold market.

The ANZ analysts do not envisage rising US interest rates as a negative. Gold has rallied in all but one of the past seven rate-hike cycles since the 1970s. Gold has also outperformed when interest rates were increasing relatively slowly. Furthermore, the analysts believe, if the US political situation worsens this year, there is a possibility gold prices will breakthrough US$1300/oz. Safe-haven buying is a strong driver of investor demand and is usually sparked by macro shocks or political instability.

Emerging markets should drive demand for physical gold for some time and China and India are already the world’s largest gold consumers. Demand in India and China has rebounded sharply in recent months and the analysts observe the issues around de-monetisation in India are abating, while there has been a sharp pick up in China’s gold imports, which suggests previous constraints have eased.

Growth in salaries, automobile sales and passenger air travel in India is expected to support the country’s gold market over the next year as India’s gold demands tend to correlate with income growth. Gold holdings are also likely to increase at central banks and most of the future buying is expected from central banks in emerging markets as they move closer to developed world levels.

China is likely to dominate the recovery in the gold price as Asian financial centres open up and the ANZ analysts find no reason why Shanghai should not become a major centre for gold trading, provided the appropriate institution and legal reforms take place. Asia is expected to account for over half of the global economy by 2050.

Supply

On the supply side prices are supported by the fact that gold mines cannot expand rapidly. Gold production has risen by an average of just 0.9% since 1995, year-on-year. Mine supply remains the primary source of gold and the trend towards increasing use of scrap has reversed over the past five years. New gold in total supply rose to over 70% in 2016.

Those countries driving the growth in the primary source of gold are ones best place to do so in the future, the analysts assert. Gold reserves are concentrated, at around 70%, in just 10 countries and Australia and South Africa have the largest unmined reserves. Meanwhile, scrap supply is volatile and the extraction from recycled electronics costly, so scrap gold is heavily influenced by both the price of gold and economic cycles.

As the ASX gold index is now down -3% year-to-date, Bell Potter believes the best performances are being driven by company-specific catalysts among the single-mine producers and successful explorers. The broker observes, while the gold price has not cracked US$1300/oz yet, it has established a pattern of higher lows and higher highs.

With a relatively steady exchange rate the Australian-dollar gold price has followed a similar track. The broker also believes relative outperformance of equities versus gold bullion is an indicator of positive sentiment.

Meanwhile, the costs associated with gold mining have fallen globally by around 15% over the past three years. Most of the reductions have been made in operating or production costs. The biggest cost reductions have been experienced in Australia, the ANZ analysts observe, where total cash costs have declined an average -30% since 2012.

Two factors, exchange rates and oil prices, have helped drive costs down and the analysts estimate around 60% of gold mining costs are based in local currency terms and around 10-12% related to oil prices. Indonesia, South Africa, Australia and Canada appear to have been the biggest beneficiaries in this regard.

Divergence In Cash Costs

Citi has highlighted a divergence between the cash costs of US dollar-denominated and non-US dollar-denominated companies. South African gold producers, in particular, have sustained all-in cash cost hikes of 16% while those of US dollar-denominated companies declined by -2.7%. Citi expects that a strengthening South African rand will continue to put pressure on South African gold stocks as will rising capital and exploration expenditure.

The broker expects costs in the industry to rise this year as years of under-investment unwind, especially if a stable, or higher, gold price prevails. Citi believes consensus expectations do not appropriately reflect the rising costs and maintains a bearish view on the sector, particularly South African gold stocks.

Based on recent changes to the underlying MVIS Junior Gold Miners index and significant changes to the GDXJ methodology in the US, Macquarie expects the main impact will be on North America markets. Yet, key beneficiaries in the Australian context are Newcrest Mining ((NCM)), Evolution Mining ((EVN)), Northern Star ((NST)) and OceanaGold ((OCG)).

These stocks have been are seen returning to the index as the eligibility band is widened. Smaller stocks are expected to suffer as a result of the re-balance. Macquarie believes investors should keep buying quality in good jurisdictions where there are cornerstone assets.
Source: https://www.fnarena.com/index.php/2017/06/19/bright-outlook-for-gold/

Outcrop of 19.65 g/t Gold Leads to Newly Exposed Vein Over 80 Meters $GGX.ca

Posted by AGORACOM-JC at 7:59 AM on Thursday, June 15th, 2017

 

  • Excavator trenching program, which was initiated after the discovery of new anomalous quartz outcrop exposed by logging, has now unearthed over 80 meters of Vein on both sides of the C.O.D.  shaft .
  • Samples taken from the new outcrop, returned up to 19.65 g/t gold.

Outcrop of 19.65 g/t Gold Leads to Newly Exposed Vein Over 80 Meters

Historic Gold Camp Greenwood BC

Vancouver, British Columbia – GGX Gold Corp. (TSXV: GGX) (the “Company” or “GGX”) is pleased to announce that its excavator trenching program, which was initiated after the discovery of new anomalous quartz outcrop exposed by logging, has now unearthed over 80 meters of Vein on both sides of the C.O.D.  shaft . Samples taken from the new outcrop, returned up to 19.65 g/t gold.

      “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 channel sampling program are reported, I expect we will gain a much better understanding of the mineralized vein structures which are prevalent on the property. “

Says Barry Brown President GGX Gold Corp.

 

To view the graphic in its original size, please click here

The vein remains open at both ends and the new Clare Extension, which is immediately NE of the COD shaft, is on strike with a recently discovered outcrop that is located over 680 meters away, that returned 14.1 g/t gold. The Company is continuing the excavator program on the Clare Extension and has initiated a channel sampling program that will test the vein every 1.5 meters.  The first batch of samples from this program have been delivered to ALS  Lab for assaying.

To view the graphic in its original size, please click here

The Clare Extension

To view the graphic in its original size, please click her

To view the graphic in its original size, please click here

The program is being conducted at the Gold Drop Southwest Zone formerly the reverted C.O.D. Grant, where the shaft was sampled in the early 30’s and returned a sample reported to be 0.75 oz. / ton Au.

The Gold Drop property covers geologically prospective ground in the well-mineralized Greenwood Mining Division in BC. The property 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).

This historic C.O.D. shaft is reported to be approximately 21 metres deep, and reported to have been sunk around 1900 on a gold bearing quartz vein (C.O.D. occurrence). The shaft was reported to have been de-watered in 1983. Historic 1980s trenches reportedly traced the vein to the southwest to the Tel 2 occurrence. The quartz vein in the shaft (C.O.D occurrence) is reported to be 1.22 metres wide, striking northeast – southwest. A 1988 diamond drill hole reported adjacent to the shaft was reported to intersect 7.4 g/t Au and 86.8 g/t Ag over 0.75 metres (true width of mineralization not reported). Chip samples during 1983 from the vein were reported to average 10.3 g/t Au and 102.6 g/t Ag over a length of 1.2 metres. A 1988 quartz vein grab sample from a trench southwest of the C.O.D. shaft was reported to return 20.8 g/t Au and 115.6 g/t Ag (Tel 2 gold and silver occurrence). This 1988 sample was reported as banded chalcedonic quartz.

To view the graphic in its original size, please click here

June 2017 Trenching at Gold Drop Southwest Zone (area of historic C.O.D shaft)

Readers are warned that historical records referred to in this News Release have been examined but not verified by a qualified person. Further work is required to verify that historical assays referred to in this News Release are accurate.

David Martin, P.Geo., a Qualified Person as defined by NI 43-101, is responsible for the technical information contained in this News Release.

On Behalf of the Board of Directors,

Barry Brown, Director

604-488-3900

 

Forward Looking Information

 

This news release includes certain statements that constitute “forward-looking information” within the meaning of applicable securities law, including without limitation, the Company’s information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the completion of the proposed transactions. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon several factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of gold and other metals, anticipated costs and the ability to achieve goals, and the Company will be able to obtain required licenses and permits. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks including that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuating prices of metals; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; operating hazards and risks; and competition. There can be no assurance that economic resources will be discovered or developed at the Gold Drop Property. Accordingly, actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include continued availability of capital and financing and general economic, market or business conditions, the loss of key directors, employees, advisors or consultants, equipment failures, litigation, competition, fees charged by service providers and failure of counterparties to perform their contractual obligations. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

 

Neither 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

To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/ggxgoldcorp06152017.pdf