Gold X Updates Toroparu High Grade Geologic Model - Seite 2

Figure 1 is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/e16080cf-2cb0-4715 ...

Figure 2 is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/b7dd947b-3938-47a9 ...

Figure 3 is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/e3bbc6cc-22f2-44d5 ...

Figure 4 is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/72959642-aa4e-44f6 ...

High-Grade Structural Jewelry Boxes

High-grade gold mineralization at the intersection of NW/SE and EW oriented structures regularly exhibits the highest-grade gold mineralization (~5 g/t - > 20 g/t). These high-grade pipe structures (Jewelry Boxes) have demonstrated up to 100m of vertical continuity and are identified in core by extensive quartz carbonate veining, brecciation, native gold, and copper sulfides (Fig. 5)

Figure 5 is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/05b85017-34b7-49db ...

Implications

The initial review and corresponding updated HPX/Nordmin Geologic Model have the following implications:

• The NW/SE & EW high-grade mineralized structures are separate mineralized domains that can be modeled independently from the lower-grade mineralized domains that surround the structures.
  
  
• The higher-grade mineralized domains have a distinct and repeatable pattern both within the existing open pit resource shell and extending to and beyond the NW zone.
  
  
• The combination of the higher and lower grade domains will be added to update the open pit resource estimate.
  
  
• The combination of higher and lower-grade mineralized domains provides various resource development options including open pit and underground mining methods.
  

Next Steps

Gold X is midway through its 10,000-meter Phase 2 drill program targeting sub-vertical high-grade structures along the 3 km Toroparu trend (see Feb 23 2021 News Release).

Following the completion of this drill program in mid-April, Gold X expects to complete:

• an updated Mineral Resource Estimate combining the higher-grade and lower-grade mineralized domains within an optimized open pit shell,
  
  
• a maiden Mineral Resource Estimate for the higher-grade mineralized domains that may be amenable to underground mining methods,
  
  
• mine engineering studies analyzing open pit, underground and hybrid open pit/underground production alternatives,