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GFG Resources Expands Land Position Along Main Gold Corridors at the Dore Gold Project West of Timmins, Ontario
SASKATOON, Saskatchewan, May 10, 2018 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V:GFG) (OTCQB:GFGSF) (“GFG” or the “Company”) is pleased to announce that it h
About this update from Gfg Resources, Inc.
[{"type":"text","content":"SASKATOON, Saskatchewan, May 10, 2018 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V:GFG) (OTCQB:GFGSF) (“GFG” or the “Company”) is pleased to announce that it has staked highly prospective claims adjacent to its Dore Gold Project, located 20 kilometeres northwest of IAMGOLD’s Cote Lake gold project and 25 kilometres southeast of Goldcorp’s Borden gold project. From the recent staking program, the Company added 80 square kilometres (8,000 hectares) that host key regional structures and a similar geologic setting to gold deposits and occurrences near to the Dore Gold Project. (See Figures 1 and 2). The Company’s total land position at the Dore Gold Project is now approximately 205 square kilometres (20,500 hectares). The expanded Dore Gold Project now covers the interpreted westward extensions of the Rundle and Rideout shear zones. Both of these structural corridors are prospective for gold mineralization. To the north and east of the property, the Rundle Shear Zone hosts the past-producing Rundle Gold Mine and the high-grade Kenty gold deposit, confirming the prospectivity of this structure. Similarly, the Rideout Shear Zone has proven to be a fertile structure for gold mineralization and hosts the multi-million-ounce Cote Lake gold deposit. The areas covered by the new claims were targeted from an internal review and analysis of regional airborne magnetic data and government till sample geochemistry. Brian Skanderbeg, President and CEO of GFG, commented, “The additional claims are strategically located adjacent to our current Dore Gold Project and aligned with our district consolidation strategy. This area of the Abitibi is relatively underexplored and yet has all the geological hallmarks to host multi-million-ounce gold deposits. Our expanded land package presents a great opportunity for GFG to make a significant discovery and build value for our shareholders.” The Dore Gold Project has seen limited previous exploration work. As such, planned field work will be directed at collecting regional till samples and LIDAR imagery which will provide the necessary information to focus prospecting efforts and develop drill targets. Figure 1: Dore Gold Property Outline Figure 2: Regional Map of Pen Gold and Dore Gold Projects Brian Skanderbeg, P.Geo. and M.Sc., President and CEO, is the Qualified Perso...