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GFG Resources Begins Drilling at its Pen Gold Project West of Timmins, Ontario
SASKATOON, Saskatchewan, Oct. 29, 2018 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) is pleased to announce that d
About this update from Gfg Resources, Inc.
[{"type":"text","content":" SASKATOON, Saskatchewan, Oct. 29, 2018 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) is pleased to announce that drilling has started at its 100% owned Pen Gold Project located within the western portion of the Abitibi greenstone belt west of Timmins, Ontario, Canada (See Figure 1). Key Highlights: Objective of the Phase 1 drill program is to drill test approximately 15 priority targets distributed across a 20-kilometre segment in the eastern portion of the Pen Gold Project; The Phase 1 drill program will consist of 5,000 to 6,000 metres in 25 to 30 holes ranging in depth from 150 to 300 metres; Drilling has commenced at the eastern extent of the Deerfoot regional target and will sequentially test targets in the Jehann and Reeves regions; The drill program will test newly generated targets from the integration of geological, geochemical, structural and geophysical datasets that were recently completed as well as infill and follow-up of relevant historic drill intercepts; and In conjunction with the drill program, the Company continues to progress towards completing its Phase 2 till sampling program and an extensive IP survey of the Reeves regional target area and advancing other priority regional targets across the property. Figure 1: Regional Map of the Pen Gold Project Figure 2: 2018 Target Map at Deerfoot, Jehann and Reeves. “Following months of hard work we are very excited to begin the Phase 1 drill program at our recently acquired Pen Gold Project,” said Brian Skanderbeg, GFG’s president and CEO. “With the use of modern technology and integration of historic data at a district scale, our technical team demonstrated that this area is highly prospective and has identified numerous high priority targets. Our focus during this Phase 1 drill program will be on three camp scale targets that have the potential to yield multiple gold discoveries.” Mr. Skanderbeg added, “This is an exciting time for the Company as we advance two drill programs with the opportunity to make a new discovery at both our Ontario and Wyoming projects. We are confident in our people, projects and the opportunity to unlock significant value through discovery.” 2018 Program Outline Deerfoot The Deerfoot regional target contains the interpreted westward extension of the Porcupine-Destor Fault Zone (“...