GT Gold's share price hit C$1.31 in August but finishes this week around $1.10 - still up more than 66% year to date. The company is currently valued at about $101 million.

Harbidge said the latest drilling continued to "highlight the strength of the Saddle North system, both at depth and near surface".

Results from the last six holes in a 15,000m Phase 2 exploration program at 100%-owned Saddle North included 657.11m of 0.5 grams per tonne gold, 0.33% copper and 1.03gpt silver from 777m depth, and 520m of 0.55gpt gold, 0.43% copper, 0.92gpt silver from 341m.

GT Gold said assays for four holes drilled on Saddle South were expected to be released early in the new year.

The company said four high-angle holes drilled at Saddle North were designed to "more fully demonstrate continuity and consistency of copper-gold mineralisation … in support of ongoing geologic and resource modelling".

"The results from these holes confirm the interpretation that the core zone at Saddle North comprises a steeply south-southwesterly- to west-southwesterly plunging, northerly-elongate body of higher-grade mineralisation with down-plunge, strike and width dimensions of 1,200-1,600m, 200-400m and 40-450m, respectively. The core zone expands to depth, where it remains open, [and] displays excellent continuity from hole-to-hole and section-to-section, and carries consistent copper-gold grades down hole.

"In addition, highly prospective targets remain untested along strike to the west and east at Saddle North."