There is a saying we like to use often at Pinnacle that goes “Nothing Pays Like Discovery”. Well, GT Gold‘s latest drill results, followed by the rush of eager investors into its shares today, prove its merit.
GT Gold Corp (GTT: TSXV) rallied 134% on massive volume of 5.4 million shares traded Tuesday to $0.89 per share. As is the case with most tremendous breakouts on the TSX Venture, a Pinnacle member had them pegged as a selection in our Monthly Stock Challenge. More on that shortly… first the results that sent GT Gold into the stratosphere.
This morning’s press release had everything. From the title to the high-grade gold results and work done to date; finally, the potential for more results to come. The title is enticing and impossible to argue with.
GT Gold Drills a New High-Grade Gold Discovery at Saddle South; Strong Intercepts in Multiple Holes Including 13.03g/t Au Over 10.67m; Drilling Continuing, More Assays Pending
As a speculator or investor in juniors, one has to know more. This story is going viral and has brokers and retail talking about it from coast to coast.
First of all, whenever you have 10 over 10, meaning a grade of 10 grams per tonne gold over at least 10 metres, the mineral structure is rare. A very savvy, professional geologist once told us he only invests in gold juniors with these types of grades.
A Press Release with the ‘Right Ingredients’
Here are the highlights of the first paragraph of GT Gold’s press release this morning:
“The gold-bearing system has been intercepted in 20 reverse circulation (“RC”) drill holes (reported herein), and in all ten diamond drill holes completed to date (sampling underway, assays pending).”
“The intercepts are from drill setups spanning roughly 200 metres in an east-west direction, and are as deep as 213 metres (hole TTD010) from surface.”
“The Saddle South gold discovery remains open both to depth and laterally, and diamond drilling is continuing.”
“Assay results from the core drilling will be released as they are received, and a second drill may be added to the program.”
Even if the reader stops there, they know enough. That was just the first paragraph and, we must admit, was very well written. While it is still early, this discovery has a lot going for it. Friendly region in northwestern British Columbia. High grade. Unknown potential. Still, even the top projects take between 5 and 10 years to go from discovery to production. A lot can happen in that time, never mind permitting and everything else involved. So, its still early days, but sentiment at the moment is high. And unlike copper or other base metal discoveries that have a way of fading, this is gold.
Kevin Keough, President & CEO of GT Gold made the following comments,
“We believe we’re in the process of unfolding a discovery of merit, and one that promises to add a great deal of value to this company. Visual inspection of core, coupled with the XRF results, suggests we’re now hitting in every hole at Saddle South, with excellent potential for expansion. We intend to keep a drill focused on Saddle South throughout the exploration season, possibly into October, weather cooperating. If our near-term test of the large new Saddle North IP-soil geochem target is successful, we may mobilize a second drill to the property. We’re looking forward to delivering a great deal more from this story.”
Click here to read the entire quote and press release.
GT Gold Takes Over July Stock Challenge
Pinnacle member ‘MrPhilly2‘ has exploded into the top spot of July’s Stock Challenge. The member of nearly 3 years hails from Kelowna; and, after GT Gold‘s breakout today is positioned for glory in July.
In what was looking like a quiet month, MrPhilly2 has stormed the gates and left the herd in his wake. Unless GT Gold breaks down he is sitting pretty. This is TSX Venture investing at its finest. Laying low, picking your spots and letting the core do the talking. MrPhilly2, well done.
GT Gold – 6 Month Chart