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GT on track for Saddle North resource

GT Gold CEO Paul Harbidge says the company is on track to deliver a maiden NI 43-101 resource on the Saddle North copper-gold target in British Columbia’s Golden Triangle after wrapping up 2019 drilling and posting most results for the year. “In 2020 our team will be focused on reaching our larger goal of delivering a preliminary economic assessment to our stakeholders by year-end,” he said this week.
GT on track for Saddle North resource GT on track for Saddle North resource GT on track for Saddle North resource GT on track for Saddle North resource GT on track for Saddle North resource

Drilling at GT Gold's Saddle North project in British Columbia

Staff reporter

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."