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GFG Resources Provides Exploration Update and Initiates 2020 Drill Program at Pen Gold Project West of Timmins, ON
Highlights: Phase 1 2020 Drill program has commenced and is focussed on testing the HGM, Nib, Broadway and Slate Rock targets with approximately 3,500 metres; H
About this update from Gfg Resources, Inc.
[{"type":"text","content":" Highlights: Phase 1 2020 Drill program has commenced and is focussed on testing the HGM, Nib, Broadway and Slate Rock targets with approximately 3,500 metres; Hole PEN-19-40 intersected 2.29 g/t Au over 2.5 metres (including 7.30 g/t Au over 0.7 metres) in initial drilling at the new Broadway target; and Hole PEN-19-041 intersected altered feldspar-porphyry at the Crawford target which graded 8.70 g/t Au over 0.6 metres. SASKATOON, Saskatchewan, Feb. 19, 2020 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) reports the remaining drill core assay results from 2019 and announces the commencement of its 2020 drill program at its 100% owned Pen Gold Project (the “Project”) located 40 kilometres west of the prolific Timmins Gold District in Ontario, Canada. Brian Skanderbeg, President and CEO commented, “We are excited to resume drilling at Pen as we follow up a very successful 2019 where we made a new discovery, expanded and identified new gold targets and drilled multiple economic intercepts at district-scale targets. In 2020, we begin our drilling program with a stronger model to follow up on targets such as Slate Rock, HGM, Crawford and Nib. Meanwhile, we will continue to advance earlier staged targets that have seen limited drill testing such as the Broadway and Boundary targets. Drilling is anticipated to be complete in early April and we are optimistic that we will continue to demonstrate the prospectivity of this region of the Abitibi.” 2020 Phase 1 Drill ProgramThe Company has resumed drilling at the Project with a plan to drill approximately 3,500 metres over the coming months. The drill program will focus on follow-up drilling at the HGM, Nib and Slate Rock prospects and reconnaissance drilling of other regional targets. Deerfoot Region – HGM ProspectRecent drilling by the Company has expanded the mineralized zones at HGM down-plunge and the system remains open at depth and along strike. (see news release: “GFG Returns Multiple Zones of High-Grade Gold Mineralization at the HGM Target, Pen Gold Project West of Timmins, ON”). As part of the Phase 1 2020 drill program, depth continuity will be tested with two holes spaced 75 to 100 metres apart. Specifically, the holes will follow-up on visible gold-bearing intervals from PEN-19-039 that assayed 7.53 g/t Au over 2.2 metres (i...