About
GT Gold Corp. is focused on exploring for gold in the geologically fertile terrain of British Columbia’s Golden Triangle. The company’s flagship asset is the wholly-owned Tatogga property, located off highway 37 in northern B.C., upon which we have recently achieved an entirely new high-grade gold discovery at the Saddle prospect. The Saddle prospect was developed by GT Gold and its wholly-owned subsidiary New Chris Minerals Ltd. from grass-roots exploration in the period since 2013.
The Saddle target area consists of separate and sub-parallel WNW trending gold-in-soil geochemical anomalies, with attendant induced polarization (“IP”) geophysical responses, that as presently understood cover approx. 1.5 kilometres (Saddle South) and 2.4 kilometres (Saddle North). The soil anomalies are of high tenor and are now known from drilling to reflect in-situ bedrock gold mineralization.
The Company is well financed and, between June and October 2017, carried out the first-ever drill program at Saddle. This program was led by geologist Charles J. Greig, well known in the B.C. industry and an expert in the Golden Triangle. It encompassed the following activities:
- Building, then expanding, an onsite camp to hold up to 50 people
- 17,707 metres in 92 holes of combined RC (1,527 metres / 28 holes) and diamond core drilling (16,180 metres / 64 holes), versus initial plans for just 4,600 metres of drilling
- 14,377 samples sent to ALS labs
- Two rounds of ground-based IP totaling 32 line-kilometres
- 165 line-kilometres of detailed heli-borne magnetics
- A drone-based photogrammetry survey totaling 5.26 km2
- A resistivity survey totaling 2.2 kilometres
- Prospecting new targets: 178 rock and 156 soil samples
The exploration team is now focused on compiling, structuring, modeling and interpreting the data generated by the summer 2017 field program. This work will result in a detailed exploration plan and budget for the summer 2018 field program at Saddle.
The summer 2017 field program at Saddle accomplished a great deal in a short period of time, and delivered fundamental value to shareholders in the form of an entirely new discovery of merit. Drilling results to date are robust, and clearly indicate a well mineralized, high-grade system with considerable upside potential. Management believes aggressive advancement of the project is warranted. Regardless of the short-term share price direction, which will remain volatile given the early stage of the discovery, shareholders can take satisfaction knowing the Company has now established, with the Saddle gold discovery, a solid foundation of value on which to build.
