Business
GFG Resources Expands and Identifies New Gold Anomalies and Completes Phase 1 Drill Program at the Pen Gold Project West of Timmins, ON
SASKATOON, Saskatchewan, April 24, 2019 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) is pleased to announce the re
About this update from Gfg Resources, Inc.
[{"type":"text","content":" SASKATOON, Saskatchewan, April 24, 2019 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) is pleased to announce the results from its Phase 2 regional till sampling program which has successfully confirmed and extended regional gold targets and outlined new highly prospective areas at its 100% owned Pen Gold Project (“Project”) in Ontario, Canada. The Project is located 40 kilometres west of the prolific Timmins Gold Camp and is part of a consolidated, underexplored land package of approximately 680 square kilometres that includes the Dore Gold Project. Highlights: Follow-up sampling 200 metres (“m”) up-ice of the Slate Rock anomaly encountered a significant increase in gold grain counts, to 220 gold grains, of which 83% were pristine shaped, signaling the sample may be close to the source of gold mineralization – initial drilling in this region has just been completed in the Phase 1 drill program; Follow-up sampling in the Jehann region verified and expanded the gold anomaly 425 m northeast with multiple results returning above threshold anomalies and highlighted by 93 gold grains of which 80% were pristine shaped; Widely-spaced till samples were taken in the Reeves region and returned highly anomalous counts of pristine gold grains with a peak anomaly of 91 gold grains of which 78% were pristine shaped; and The Company has completed the 2019 Phase 1 drill program consisting of 4,400 m from 15 holes testing targets in the Jehann, Reeves, Slate Rock and Deerfoot regions. Results are anticipated to be released during Q2 2019. Brian Skanderbeg, President and CEO, commented, “These recent till sampling results reinforce the prospectivity of the region with increased counts of highly pristine gold grains. We are excited that follow-up sampling results in the Slate Rock and Jehann areas generated stronger anomalies, giving us confidence that we may be closing in on the bedrock source. The results also demonstrate how underexplored our land package is. With very limited outcrop on the Pen Gold Project, the till sampling program is generating new targets that we would not have identified with traditional exploration techniques. With a strong geological model of the district, numerous prospective targets and a successful first drill program including a new discovery in hand, we are confident tha...