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GFG Outlines Aggressive Exploration Program at its Recently Acquired Pen Gold and Dore Gold Projects West of Timmins, Ontario
SASKATOON, Saskatchewan, March 22, 2018 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V:GFG) (OTCQB:GFGSF) (“GFG” or the “Company”) outlines an aggressive 2018 ex
About this update from Gfg Resources, Inc.
[{"type":"text","content":" SASKATOON, Saskatchewan, March 22, 2018 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V:GFG) (OTCQB:GFGSF) (“GFG” or the “Company”) outlines an aggressive 2018 exploration program following the recent acquisition of the Pen Gold and Dore Gold projects within the western portion of the Abitibi greenstone belt west of Timmins, Ontario, Canada (See Figure 1). The fully funded, C$3.0 million exploration program, being conducted 30 kilometres west of the Timmins West gold mine, will include airborne and ground geophysics, till sampling, prospecting, mapping, and approximately 8,000 metres (“m”) of diamond drilling. Brian Skanderbeg, President and CEO commented, “We are excited to launch the first ever systematic, district scale exploration program in this under-explored portion of the Abitibi greenstone belt. Our 565 square kilometre land package has all the geological hallmarks that have led to over 70 million ounces of gold production in the Timmins gold district and the recent multi-million-ounce gold discoveries at Borden Lake and Cote Lake. Our goal in 2018 will be to build a sound structural model utilizing modern exploration techniques to define and prioritize drill targets focused on making a new gold discovery. With two exploration programs in 2018 and a maiden resource from our Rattlesnake Hills Gold Project in Wyoming, we look forward to providing consistent news flow to our shareholders throughout the year.” 2018 Program Outline The Company will employ a systematic belt-scale approach to exploration and targeting on the highly prospective Pen Gold and Dore Gold properties. The 2018 program is aligned with the overall objective to drill test six to eight priority targets that are prospective for high-grade gold mineralization. The majority of the program and drilling will focus on the Pen Gold project located between Goldcorp’s Borden Lake gold project and Tahoe Resources’ Timmins West gold mine. In addition, field work and data compilation will be done to advance the Dore Gold project to better define drill targets for future drill programs. As a first step, the Company completed a high-resolution helicopter-borne magnetic survey (9,850 line-kilometres on 50-metre line spacing) over a large portion of Pen Gold property in March. The new magnetic survey, combined with existing data, now provides complete coverage of the pro...