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GFG Resources Inc.
Summary
| Project: | Pen Gold | |
|---|---|---|
| Deposit: | Pen Gold | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 6/20/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-6-2019: GFG Resources Inc. announces an Exploration/Drilling Update report for its Pen Gold deposit at the Pen Gold project. Drilling results incl. 25.3m @ 0.47g/t Au from 72.2m. June 20, 2019, Saskatoon, Saskatchewan, Canada: GFG Resources Inc. (TSX-V | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Brian Skanderbeg (Internal) | |
| ABSTRACT: | June 20, 2019, Saskatoon, Saskatchewan, Canada: GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) is pleased to announce assay results from the 2019 Phase 1 drill program at its 100% owned Pen Gold Project located 40 kilometres west of the prolific Timmins Gold District in Ontario, Canada. Results from the Phase 1 drill program successfully discovered gold mineralization at the Slate Rock target and follow-up drilling at the Crawford target returned several distinct styles of gold mineralization down-dip of the discovery hole which intersected 21.26 g/t Au over 1.7 metres (see link to news release: “GFG Discovers New Gold Zone with 21.26 g/t Gold over 1.7 Metres at Pen Gold Project West of Timmins, ON”). The 2019 Phase 1 drill program consisted of 15 drill holes (4,400 m) ranging in depth from 150 to 350 metres (see Table 1). The program was designed to test six individual targets within the Slate Rock, Reeves and Jehann regional targets (see Figures 1-5). The six drill targets had no historic drilling and were generated from the Company’s 2018 systematic integration of geological, geochemical, structural and geophysical datasets. The Company also completed one follow-up drill hole at the recent Crawford discovery where it intersected 21.26 g/t Au over 1.7 metres, located in the Deerfoot regional target. Brian Skanderbeg, President and CEO commented, “In our first year at the Pen Gold Project we have discovered multiple gold zones that reinforce our belief that this underexplored portion of the Abitibi has the potential to host significant gold systems. We view the results from Slate Rock and Crawford very positively as they demonstrate the gold systems are working and confirm efficacy of our targeting strategy. At the Jehann target, drilling did not explain the significant gold-in-till anomalies however, we remain confident in this target area and are currently conducting an in-fill till sampling program to vector in on the source of the gold. While the Reeves drill results demonstrated low gold values, we gained valuable insight on the regional geology of this untested 4 by 6 kilometre target.” | |
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