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GFG Resources Provides Exploration Update and Launches 3,000 Metre Drill Program at Montclerg Gold Project, East of Timmins
SASKATOON, Saskatchewan, Nov. 08, 2021 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has initiat
About this update from Gfg Resources, Inc.
[{"type":"text","content":" SASKATOON, Saskatchewan, Nov. 08, 2021 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has initiated its Phase 1 3,000 metre (“m”) drill program testing bulk tonnage and high-grade vein targets at its Montclerg Gold Project (the “Project” and/or “Montclerg”). Drilling is anticipated to continue into December, with planning in progress for a more extensive H1 2022 program. The Montclerg Gold Project is located 48 kilometres (“km”) east of the prolific Timmins Gold Camp and is adjacent to multiple current and historic gold mines (See Figure 1). The Project consists of patented and unpatented mining claims that cover 10 km of the highly prospective Pipestone Deformation Zone (See Figure 2). GFG recently closed the acquisition of the Project, and in parallel with the drill program, will advance a systematic exploration program to evaluate and improve the property scale understanding. Brian Skanderbeg, President and CEO commented, “We have already made great progress at Montclerg and are now in a position to begin our Phase 1 drill program. This Phase 1 drilling will focus on the MC prospect where historic drill campaigns outlined up to five separate gold zones over a strike length of 1.5 km.” “The vast majority of the historic drilling was completed prior to 1970 and focused on shallow, high-grade segments of the systems; typically only sampling material above three grams of gold per tonne (“g/t Au”). GFG acquired Montclerg with a view that the property hosts both bulk-tonnage and high-grade underground potential within a large-scale gold system that remains highly under-explored. We are excited to begin drilling at Montclerg and combined with catalysts from our activities at both the Pen and Rattlesnake Hills Projects, we are well-positioned to deliver consistent news flow and value creation.” Montclerg 2021 Exploration Program In support of the Montclerg acquisition, the Company undertook a systematic approach to evaluating the Project, specifically focused on building a comprehensive understanding of the gold systems, ore controls and potential targets. Building upon this work, and to refine drill targets, the exploration team has already completed significant work, including: Completion of a detailed drone magnetic survey covering the core extensions of t...