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GFG Resources Provides Initial Drill Results from 2021 Phase 1 Drill Program at the Pen Gold Project West of Timmins, ON
SASKATOON, Saskatchewan, June 29, 2021 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) reports the initial drill res
About this update from Gfg Resources, Inc.
[{"type":"text","content":" SASKATOON, Saskatchewan, June 29, 2021 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) reports the initial drill results from its recently completed 5,800 metre (“m”), Phase 1 2021 drill program at its 100% owned Pen Gold Project (“Pen” or the “Project”) located west of the prolific Timmins Gold District in Ontario. During its Phase 1 drill program, the Company completed a total of 17 holes at the Slate Rock, R66, Boundary, Keith South and Sewell North prospects (see Figure 1). Assay results for 12 holes have been received and are described herein, with assays for the remaining five holes to be released as they become available. “Our aggressive Phase 1 drill program was able to confirm several productive gold systems that deserve further attention and drilling,” stated Brian Skanderbeg, President and CEO. “Specifically, we are pleased that we were able to demonstrate lateral continuity at Boundary, which is a key test on an early-stage target, and we continued to outline broad zones of gold mineralization at Slate Rock. With further results pending from Sewell North, an aggressive summer field program and a Phase 2 drill program to start in September, we remain excited by and committed to outlining the next discovery on our expansive land position west of the Timmins Gold Camp.” Mr. Skanderbeg added, “In addition to our aggressive exploration programs in Ontario, we look forward to advancing our Rattlesnake Hills Gold Project in Wyoming along with our partner Group 11 Technologies Inc. using a disruptive technology that has the potential to revolutionize the gold mining sector.” Initial 2021 Phase 1 Drill Program Results The initial drill results from the Phase 1 drill program are from the Boundary, Slate Rock, R66 and Keith South prospects (see Table 1 and Figures 1-4). Key points and descriptions of the results are presented below. Boundary The Boundary Trend was identified in 2019 through systematic till sampling and follow-up prospecting that outlined six new gold showings along a three-kilometre (“km”) trend within the eastern portion of the Project (see Figure 1). Surface rock grab and channel sampling returned up to 11 grams per tonne gold (“g/t Au”) associated with quartz veined, carbonate-sericite altered mafic volcanic and intrusive rocks. In 2020, the Company completed six ...