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GFG Resources Update of Pen Gold Project West of Timmins

Mining News - Published on Mon, 13 Jan 2020

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GFG Resources Inc has reported initial assay results from the 2019 Phase 2 drill program at its 100% owned Pen Gold Project located 40 kilometres west of the prolific Timmins Gold District in Ontario, Canada. In the fourth quarter of 2019, the Company completed 2,500 metres of drilling from eight drill holes testing six targets. GFG Resources President and CEO Brian Skanderbeg said “This was our first attempt at following up on the historic drilling at the HGM target. These results validate our model of a robust gold system with multiple high-grade stacked lenses. The system remains open for growth and we plan to further drill test the HGM target in the upcoming 4,000 metre drill program along with other high priority targets at Slate Rock, Crawford and Nib. With further results pending from both the Pen Gold Project and Rattlesnake Hills Gold Project, and drilling anticipated to restart at Timmins in the coming weeks, 2020 should be an exciting year for GFG.”


Hole PEN-19-39 intersected stacked mineralized lenses at the HGM target highlighted by 7.53 g/t Au over 2.2 metres (including 31.80 g/t Au over 0.5 metres) and 25.96 g/t Au over 1.0 metre (including 51.80 g/t Au over 0.5 metres);

Hole PEN-19-36 intersected two distinct mineralized intervals highlighted by 0.93 g/t Au over 7.4 metres (including 2.86 g/t Au over 1.2 metres);

Assays pending on four holes and portions of Hole PEN-19-39 from the 2019 Phase 2 drill program; and

Drilling to resume at the Pen Gold Project in early February testing the Slate Rock, HGM, Crawford and Nib targets with approximately 4,000 metres.

The initial results from four drill holes are highlighted by hole PEN-19-39 which successfully outlined mineralized stacked lenses with high-grade gold intercepts at the HGM target grading 7.53 g/t Au over 2.2 metres and 25.96 g/t Au over 1.0 metre

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Posted By : Rabi Wangkhem on Mon, 13 Jan 2020
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