A total of 17 holes (3,011 m) were completed on the Golden Giant East ('GGEast') and
Holes GG-21-14 and GG-21-16 were drilled on the eastern side of the East Block, both into and surrounding a folded gabbro unit that follows the overall trend of deformation in the area. The 0.523 g/t Au over 5.5 m from hole GG-21-14 came from an intermediate intrusive unit within the main gabbro, which contained white quartz veins with trace epidote. The 0.398 g/t Au over 10.2 m from hole GG-21-16 was found close to surface at 36-46.2 m down hole. These grades came from an amphibolite unit sitting alongside the gabbro containing moderate to strong pervasive chlorite and amphibole alteration. Two significant quartz / quartz-tourmaline veins were found in this interval, measuring 70 cm and 50 cm, containing 1% disseminated pyrite and pyrrhotite. The Company is working through geological theories to determine if the mineralisation is related to the folded gabbro unit or rather a significant structure that is running through the area.
On the West Block, holes GG-21-01 to 03 all uncovered small drill intercepts containing anomalous gold, all within the same sheared, strongly foliated amphibolite unit. The highest grade in drill core relating to the 18.9 g/t Au found at surface was 1.44 g/t Au. Hole GG-21-03 also uncovered an anomalous zinc result of 0.895% Zn, which may warrant some follow up investigation.
The Company plans to return to the Golden Giant property in 2022 to continue its exploration campaign. Only one third of the entire property has been explored to date. Only a very small fraction of the West Block has been worked and the Kali East Block is yet to be visited.
The Company also plans to visit its Fernet properties in 2022. The Fernet West block, which is located only 4km north of
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Email: aaron.stone@qcxgold.com
Forward-looking statements
This news release contains forward-looking statements. All statements, other than of historical facts, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future including, without limitation, the planned exploration program, the expected positive exploration results, the timing of the exploration results, the ability of the Company to continue with the exploration program, the availability of the required funds to continue with the exploration and the potential mineralization or potential mineral resources are forward-looking statements. Forward-looking statements are generally identifiable by use of the words 'will', 'should', 'continue', 'expect', 'anticipate', 'estimate', 'believe', 'intend', 'to earn', 'to have', 'plan' or 'project' or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to meet expected, estimated or planned exploration expenditures, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, general business and economic conditions, changes in world gold markets, sufficient labour and equipment being available, changes in laws and permitting requirements, unanticipated weather changes, title disputes and claims, environmental risks as well as those risks identified in the Company's annual Management's Discussion and Analysis. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described and accordingly, readers should not place undue reliance on forward-looking statements. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
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