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GFG Resources Discovers New Gold Zone with 21.26 g/t Gold over 1.7 Metres at Pen Gold Project West of Timmins, ON
Highlights: Discovered new gold zone along the Porcupine-Destor Fault Zone (“PDFZ”) at the Crawford target in hole PEN-18-016 grading 21.26 grams of gold per to
About this update from Gfg Resources, Inc.
[{"type":"text","content":" Highlights: Discovered new gold zone along the Porcupine-Destor Fault Zone (“PDFZ”) at the Crawford target in hole PEN-18-016 grading 21.26 grams of gold per tonne (“g/t Au”) over 1.7 metres (“m”), making it a priority target for additional work in 2019; High-grade intercept at the HGM target of 9.20 g/t Au over 0.9 m in hole PEN-18-013 which is located 400 m east of the Crawford target; At the Nib-Yellowknife target, PEN-18-017: 0.89 g/t Au over 7.0 m successfully intercepted multiple zones of mineralization with visible gold present, making it a priority target in future drill programs; and The 4,000 m Phase 1 2019 drill program at the Pen Gold Project is on-going with two drill rigs testing high priority targets in the Reeves, Slate Rock, Jehann and Deerfoot regions. SASKATOON, Saskatchewan, April 03, 2019 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) is pleased to announce assay results for the remaining 12 drill holes and the discovery of a new gold zone (See Table 1) from its inaugural 2018 drill program at its 100% owned Pen Gold Project located 40 kilometres west of the prolific Timmins Gold District in Ontario, Canada. The new gold discovery was made at the Crawford target from hole PEN-18-016 which intersected 21.26 g/t Au over 1.7 m at 100 m depth. The new mineralized zone is located 500 m west of the HGM occurrence in the Deerfoot regional target (See Figures 3 and 4). The 2018 drill program consisted of 19 drill holes (4,744 m) ranging in depth from 150 to 500 m (See Table 1 and link to news release dated January 17, 2019, “GFG Drills 33.77 g/t Gold over 1.05 Metres at Pen Gold Project West of Timmins, ON”). The program was designed to test six targets distributed across a 20-kilometre segment in the eastern portion of the Pen Gold Project (See Figures 1-5). These targets were generated from the integration of historic and new data sets from the Company’s 2018 exploration program. Based on these results, follow-up drilling is warranted on the Crawford, Nib-Yellowknife and Sewell targets. Brian Skanderbeg, President and CEO commented, “We are very pleased with our discovery at Crawford and the high success rate of intercepting high-grade gold mineralization in the inaugural drill program at the Pen Gold Project. The fact that we encountered a new gold z...