GT Gold Provides Saddle North Geological Model and 2020 Plan for Exploration

GT Gold Provides Saddle North Geological Model and 2020 Plan for Exploration

VANCOUVER, British Columbia, April 28, 2020 (GLOBE NEWSWIRE) — GT Gold Corp. (TSX-V:GTT) (the “Company” or “GT Gold”) is pleased to provide a summary of its completed geological model for the Saddle North gold-rich copper porphyry discovery, as well as an overview of the 2020 exploration plan to drill untested high-priority targets on the Tatogga property in the prolific Golden Triangle of northern British Columbia.“The company has reached another milestone with the delivery of a robust geological model, which now provides the strong foundation on which to estimate the initial mineral resource for the Saddle North, greenfields porphyry copper discovery. The model is supported by the integration of numerous empirical data sets”, commented Paul Harbidge, President and CEO. “We’re also very pleased to report plans to test the exciting new targets at Tatogga in the upcoming exploration season. We’re wrapping up one resource and determined we’ll find another in a region that is beginning to show the signs of a new porphyry district.”SummaryThis report details the work undertaken to develop a geological model to understand the controls on mineralization for the recently discovered Saddle North gold-rich copper porphyry in northern British Columbia. A total of 31,397 metres of drill core was relogged in detail over the past four months to develop a robust three-dimensional geological model for Saddle North. This involved the production of hand drawn cross-sections and level plans at 100 metre intervals through the kilometre-scale mineralized zone for lithology, alteration, mineralization and structure, and was complemented by a thorough assessment and classification of the Company’s large database of geochemical data. The resultant plans and sections were then scanned, georeferenced and integrated with magnetic and Induced Polarization data to create a well-constrained three-dimensional digital model. The model will be used as the basis for the Company’s initial mineral resource estimate, due to be released by the end of June 2020, and both will underpin a Preliminary Economic Assessment for Saddle North expected to be released by year-end, 2020.Saddle North is a gold-rich copper porphyry centered on a series of pre-mineralization to late inter-mineralization monzodiorite and monzonite intrusions. The intrusive complex is interpreted to represent a series of igneous bodies emplaced over a relatively short period of time in the late Triassic. Minor post-mineralization felsic and mafic dykes have also been observed.Copper and gold mineralization in the porphyries varies with the intrusive phases and is associated with stockwork and sheeted quartz-pyrite-magnetite-chalcopyrite vein zones, with the highest grades occurring where the vein densities are greatest. Almost all the copper is contained in chalcopyrite. Additional copper may be related to minor occurrence of tennantite together with chalcopyrite in late quartz-carbonate-sericite veins.Geochemistry and spectral data reveal that high copper and gold grades are also closely associated with high-temperature potassic alteration assemblages (potassium feldspar, biotite and magnetite). Abundant secondary and local primary biotite has been almost wholly replaced by chlorite-phengitic muscovite, and the high-temperature alteration in places has been overprinted by quartz-sericite (muscovite)-pyrite alteration.The mineralized zone is limited by the northwest-southeast oriented, steeply southwest dipping Poelzer fault. The footwall country rocks to the fault are not well-mineralized but are characterized by widespread quartz-sericite-pyrite alteration and the local presence of pyrophyllite and kaolinite, which are typical in the shallow portions of porphyry systems. This highlights additional exploration potential along strike and at depth across the Poelzer fault.Compared to other porphyry systems, Saddle North appears to be hosted in a relatively straightforward alteration system with minimal clays and localized low to moderate arsenic.The Company continues to generate exploration targets on the Tatogga property, in part by undertaking further greenfields-style exploration (soil geochemistry, Induced Polarization surveys and field mapping), as well as reassessing the substantial historical exploration datasets gleaned from Assessment Reports for the district, which have been archived by the Ministry of Mines of B.C. The combined datasets include soil, stream, and rock geochemistry, as well as geophysical data in the form of a number of merged regional airborne magnetic surveys, new property-scale detailed airborne magnetic, radiometric (gamma), and “Mobile MT” surveys, plus regional gravity data and several new ground-based Induced Polarization (IP) surveys.The results of this work highlight two main areas for follow-up in the 2020 summer field program:The greater Saddle area; adjacent to the known Saddle North and Saddle South discoveries, where four principal targets have been outlined.The Quash-Pass area, where two large-scale anomalous trends and several adjacent individual target areas have been defined.An initial 10,000 metre diamond drill program has been budgeted as a first phase of following on these high priority targets.Saddle North Technical Session WebcastThe Company will host a technical webcast scheduled for April 29, 2020 at 10:00am Pacific (1:00pm Eastern) to present the geological model and review exploration plans. Participants may access the webcast call as follows:Online on the Company website at www.gtgoldcorp.ca 
or via the direct link: https://edge.media-server.com/mmc/p/8dkog46v
By phone at 1-888-337-1150 toll free in Canada or the U.S., or at 1-956-394-3454 internationally.A recorded playback of the conference call will be available until May 6, 2020 by calling toll free 1-855-859-2056, or 1-404-537-3406 outside of the U.S. and Canada, conference ID 3484372. An archived webcast will also be available for 12 months at www.gtgoldcorp.ca.Saddle North 3D Geological Model
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