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GFG Resources Provides Additional Disclosure on its Rattlesnake Hills Gold Project
SASKATOON, Saskatchewan, Sept. 12, 2018 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”), at the request of IIROC, is
About this update from Gfg Resources, Inc.
[{"type":"text","content":" SASKATOON, Saskatchewan, Sept. 12, 2018 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”), at the request of IIROC, is providing additional disclosure relating to its September 11, 2018 news release titled “GFG Signs Option and Earn-In Agreement with Newcrest to Advance the Rattlesnake Hills Gold Project”. The Rattlesnake Hills Gold Project:The Rattlesnake Hills Gold Project is a district scale gold exploration project located in central Wyoming approximately 100 kilometres southwest of Casper. The Project is comprised of 1,573 unpatented lode mining claims as well as eight Wyoming State mining leases covering an area of approximately 30,400 acres. The Project is centrally located within a roughly 1,500-kilometre-long belt of alkalic intrusive complexes that occur along the eastern side of the Rocky Mountains from Montana to New Mexico. As disclosed by the Company on September 11, 2018, the Company has signed an option and earn-in agreement with Newcrest Resources Inc., a wholly-owned subsidiary of Newcrest Mining Limited (ASX: NCM) (“Newcrest”), pursuant to which Newcrest has the right to acquire, in multiple stages, up to 75% of the Project by completing a series of exploration and development expenditures and making staged option cash payments totaling US$1.25 million to GFG. The Project has approximately 90,000 metres of historic drilling which has outlined four significant zones of alteration and precious metal mineralization that are associated with Eocene age alkalic intrusions at North Stock, Antelope Basin, South Stock and Blackjack. The majority of the historic drilling was completed by Evolving Gold Corp. focused on near surface, open pit targets in the North Stock and Antelope Basin areas with highlights that include intercepts(1) of 1.85 grams of gold per tonne (g/t Au) over 236.2 metres (“m”) hole length; 4.20 g/t Au over 77.7 m hole length; 2.08 g/t Au over 150.9 m hole length and 0.82 g/t Au over 99.1 m hole length. Qualified PersonBrian Skanderbeg, P.Geo. and M.Sc., serves as President and CEO of GFG, and is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Skanderbeg has reviewed the respective core intervals, sampling and QA/QC procedures and results thereof as verification of the histo...