GT Gold Corp. [GTT-TSXV, GTGDF-OTC] shares were active Wednesday January 9 after the company said the final and deepest hole of its Saddle North porphyry drill program (hole TTD109) returned the strongest intercepts reported so far. The Saddle North discovery is located on GT Gold’s wholly-owned Tatogga property in British Columbia’s Golden Triangle area.
GT Gold shares were off 9.46% or $0.07 to 67 cents Wednesday on volume of 2.56 million. The 52-week range is 41 cents and $2.15.
Drill hole TTD109 returned 0.62 g/t gold, 0.36% copper, 1.17 g/t silver (0.82% copper equivalent, and 1.12 g/t gold equivalent) over 1,149.70 metres from 11.33 to 1,161.00 metres.
The results confirm the presence of a high-grade stockwork and sheeted vein-rich “core zone” encompassing grades exceeding 1.0% copper equivalent and 1.5 g/t gold equivalent on section 5740, which reaches from near surface to greater than 1,300 metres down-dip, where it remains open, with associated true widths that approximate 100 metres near surface in hole TTD108, expanding with depth to greater than 300 metres in holes TTD093 and 300 metres further down-dip, in TTD109.
The company said results from the previous 10 holes at Saddle North demonstrate that this high-grade core zone extends to at least 500 metres of strike, and that it lies within a much broader, strongly mineralized envelope which has a drilled strike length in excess of 650 metres, a true width of approximately 700 metres, and a down-dip extent of more than 1,300 metres.
A full geological compilation and interpretation is now well underway, and planning has begun for the 2019 drill campaign, the company said in a press release Wednesday.
The company had planned to complete 18,000 metres of drilling on the Tatogga property in 2018. But the program was expanded to 24,749 metres following the discovery of extensive high-grade, gold-copper, porphyry-style mineralization at the Saddle North occurrence.
GT Gold said the Saddle North intrusive complex appears to be similar lithologically to the porphyry system at the nearby Red Chris Mine, but with high-K calc-alkalic rocks predominating.
Tatogga is located west of the village of Iskut and is directly accessible from paved Hwy. 37. It is one of two wholly-owned B.C. projects in the GT Gold portfolio.
The other is GT’s New Nanik property, located in west-central British Columbia, approximately 100 km southeast of Terrace. The property covers 1,434 hectares and has been shown to host copper, gold and molybdenum mineralization. However, GT is currently putting its focus on Tatogga.
One of the company’s key objectives in 2018 was the initiation of route planning and permitting for a road to the Saddle area from Hwy. 37.