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GT Gold gaining clearer picture of Saddle North potential

Initial 2019 drilling is already bringing “the potentially significant economics” of its Saddle North copper-gold discovery into clearer focus, GT Gold (TSXV: GTT) says.
GT Gold gaining clearer picture of Saddle North potential GT Gold gaining clearer picture of Saddle North potential GT Gold gaining clearer picture of Saddle North potential GT Gold gaining clearer picture of Saddle North potential GT Gold gaining clearer picture of Saddle North potential

GT Gold has exploration underway at its Tatogga project in BC as it works towards a resource for Saddle North

Staff reporter

The explorer yesterday released results from the first six holes of a 10,000m programme at Saddle North at its Tatogga property in British Columbia's Golden Triangle, including 500m at 1.67g/t gold-equivalent, or 1.23% copper-equivalent, from 206m.

It was part of a wider intercept grading 1.31g/t gold-equivalent over 685m from 21m.

The Newmont Goldcorp-backed company said the hole linked very high grades encountered in deep holes last year with near-surface high grades.

Another hole which GT Gold said substantiated the link hit 1.82m at 14g/t gold, 8.3g/t silver and 0.521% copper from 445.57m.

The well-funded company said once phase one drilling was finished, Saddle North targets would be re-prioritised and drilling would focus on producing a preliminary resource.

The company is also getting its Quash-Pass target, 7km southwest of Saddle, drill-ready.

It had about C$19 million (US$14 million) cash in June after closing a $17.6 million strategic investment by Newmont Goldcorp, which gave the major a 9.9% stake.
  
GT Gold shares have shot above C$2 both on the Saddle South epithermal gold discovery in 2017 and the Saddle North porphyry discovery last year.

They gained 6.7% yesterday to close at 96c, to capitalise it at $100 million (US$76.7 million).