12/09/2019
SASKATOON, Saskatchewan, Dec. 09, 2019 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) is pleased to announce the results from its recently completed regional prospecting program which has successfully extended existing regional gold targets and outlined new highly prospective areas at its 100% owned Pen Gold Project (“Project”) in Ontario, Canada (see Figures 1-3). The Project is located 40 kilometres west of the prolific Timmins Gold District and is part of a consolidated, underexplored land package of approximately 680 square kilometres that includes the Dore Gold Project. Over the next five months, the Company plans to drill approximately 6,500 metres at the Pen Gold Project. Regional Map of the Pen Gold Project - December 2019 Surface sampling results from the Boundary target at the Pen Gold Project Surface sampling results from the Slate Rock target at the Pen Gold Project Brian Skanderbeg, President and CEO, commented, “We are very
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11/21/2019
SASKATOON, Saskatchewan, Nov. 21, 2019 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has resumed drilling at its 100% owned, district-scale, Pen Gold Project located 20 kilometres west of the prolific Timmins Gold District in Ontario. Over the next six months, the Company plans to drill approximately 6,500 metres of which approximately 2,500 metres will be completed before year-end 2019 and the remaining 4,000 metres planned to be completed by the end of the first quarter of 2020. The current program will include 10-12 holes testing six targets in the Deerfoot, Tremblay and Reeves regional target areas (See Figure 1).
Pen Gold Project Drill Targets in the Deerfoot, Tremblay and Reeves Regions Brian Skanderbeg, President and CEO commented, “With the completion of our recent financing, we are excited to get back on the ground in Timmins. Our current drill program is designed to follow-up on our discoveries from 2018
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11/19/2019
SASKATOON, Saskatchewan, Nov. 19, 2019 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) and its partner, Newcrest Resources Inc., a wholly-owned subsidiary of Newcrest Mining Limited (ASX: NCM) (“Newcrest”), have completed the 2019 drill program at the Rattlesnake Hills Gold Project (the “Project”) in Wyoming, United States. The drill program, consisting of 3,900 metres of core drilling in three holes, tested moderate to deep gold targets proximal to the North Stock deposit (see Figures 1 and 2). Final assay results are expected to be received in December.
Plan map view of Rattlesnake Hills Gold Project - November 2019 Cross Section of Rattlesnake Hills Gold Project 2019 Drill Program Brian Skanderbeg, President and CEO of GFG commented, “We are pleased to report that we safely and successfully completed the drill program at our Rattlesnake Hills Gold Project in Wyoming. At this early stage, the drill program was a success as all three
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10/29/2019
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, Oct. 29, 2019 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has closed the second and final tranche of the previously announced non-brokered private placement (the “Offering”) for gross proceeds of C$117,280. The total gross proceeds raised in the Offering was C$3,183,353. Pursuant to the closing of the second tranche of the Offering, the Company issued (i) 610,000 units of the Company (“Units”) at a price of C$0.18 per Unit for gross proceeds of C$109,800, with each Unit consisting of one common share of the Company (which is not a “flow-through share”) and one-half of one share purchase warrant, with each whole share purchase warrant (a “Warrant”) entitling the holder thereof to acquire one additional common share of the Company (which shall not be a “flow-through share”) at an exercise price of C$0.27 for a period of 24 months
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10/24/2019
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, Oct. 24, 2019 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has closed the first tranche of the previously announced non-brokered private placement (the “Offering”) for gross proceeds of C$3,066,073 million. “We are grateful for the support and confidence from our existing and new shareholders in our unwavering and disciplined pursuit to deliver shareholder value through discovery”, stated Brian Skanderbeg, President and CEO of GFG. “This financing will allow us to follow-up on our recent discoveries at the Pen Gold Project, located west of the Timmins Gold District, and further advance our Rattlesnake Hills Gold Project with our partner Newcrest Mining Ltd. Over the past year, we have significantly advanced both projects and we look forward to providing numerous catalysts from the on-going and upcoming drill programs.” Pursuant
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09/30/2019
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, Sept. 30, 2019 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces a non-brokered private placement to raise gross proceeds of up to C$3.7 million (the “Offering”). The Offering will consist of any combination of (i) units of the Company (“Units”) at a price of C$0.18 per Unit; (ii) common shares of the Company that will qualify as "flow-through shares" for the purposes of the Income Tax Act (Canada) (“FT Shares”) at a price of C$0.22 per FT Share; and (iii) charity units of the Company (“Charity Units”) at a price of C$0.275 per Charity Unit, subject to maximum aggregate gross proceeds of C$3.7 million. Each Unit shall consist of one common share of the Company (which shall not be a “flow-through share”) and one-half of one share purchase warrant, with each whole share purchase warrant (a “Warrant”) entitling the holder thereof to acquire one
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08/01/2019
SASKATOON, Saskatchewan, Aug. 01, 2019 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces the appointment of Mr. Brian Booth to the Board of Directors (the “Board”). Concurrently, Mr. Jonathan Awde has resigned from the Board to focus his efforts on other professional duties and business ventures. These changes are effective immediately.
Mr. Patrick Downey, Chair of the Board, commented, “We thank Jon for his many contributions and strategic guidance in building GFG’s team and portfolio of assets and wish him the very best in his future endeavors. Adding Brian’s significant technical experience, especially in the Timmins Gold District, will be an extremely valuable asset to the Board and management team as we advance our Pen and Dore gold projects. Brian’s commitment to GFG is a strong endorsement of the management team and the potential that exists at our significant land position west of Timmins.” Mr. Jonathan Awde commented,
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07/09/2019
Highlights: Brownfield Drill Targets in Plan View Map North-South Cross Section Map of Brownfield Targets Northwest-Southeast Cross Section Map of Brownfield Targets The drill program will consist of 5,000 to 6,000 metres in six to eight holes using two core drill rigs testing both brownfield and greenfield targets; The majority of the drill program, approximately 5,000 metres in four to six holes, will test moderate to deep gold targets below the North Stock deposit where historic deep drilling intersected 2.49 grams of gold per tonne (g/t Au) over 22.9 metres; Greenfield targets are currently being prioritized and may see up to 1,000 metres of drilling in two to four holes; The 2019 exploration program has a budget of approximately US$3.5 million and is anticipated to be completed in October; and GFG is the operator of the program and will receive a 10% management fee on the total expenditures. SASKATOON, Saskatchewan, July 09, 2019 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG)
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06/20/2019
Highlights: 2019 Phase 1 Drill Program Target Map at the Pen Gold Project 2019 Phase 1 Drill Results: Slate Rock Target 2019 Phase 1 Drill Results: Deerfoot Region and Crawford Target 2019 Phase 1 Drill Results: Crawford Cross Section Map 2019 Phase 1 Drill Results: Jehann East Target 2019 Phase 1 Drill Results: Reeves Target Initial drilling at the Slate Rock target successfully outlined broad gold mineralization in hole PEN-19-025 grading 0.47 grams of gold per tonne (“g/t Au”) over 25.3 metres, including 3.58 g/t Au over 1.0 metre; Follow-up drilling at the recent Crawford discovery confirmed several distinct styles of gold mineralization down-dip of the discovery hole hosting up to 2.50 g/t Au over 1.0 metre and a new lower zone that graded 0.19 g/t Au over 20.3 metres; A comprehensive summer field program is well underway at the Pen Gold Project that includes regional till sampling, ground geophysics, prospecting and mapping; A Phase 2 drill program at the Pen Gold Project of
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04/24/2019
SASKATOON, Saskatchewan, April 24, 2019 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) is pleased to announce the results from its Phase 2 regional till sampling program which has successfully confirmed and extended regional gold targets and outlined new highly prospective areas at its 100% owned Pen Gold Project (“Project”) in Ontario, Canada. The Project is located 40 kilometres west of the prolific Timmins Gold Camp and is part of a consolidated, underexplored land package of approximately 680 square kilometres that includes the Dore Gold Project. Figure 1: Schematic map of the till sampling processes Till sampling results from the west block of the Pen Gold Project Till sampling results - east block of the Pen Gold Project Highlights: Follow-up sampling 200 metres (“m”) up-ice of the Slate Rock anomaly encountered a significant increase in gold grain counts, to 220 gold grains, of which 83% were pristine shaped, signaling the sample
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04/03/2019
Highlights: Pen Gold Project drill targets Deerfoot and Sewell Target Map Plan map of the Crawford and HGM targets Crawford cross section map Nib-Yellowknife plan map of 2018 drill results Core photo of new Crawford gold zone Discovered new gold zone along the Porcupine-Destor Fault Zone (“PDFZ”) at the Crawford target in hole PEN-18-016 grading 21.26 grams of gold per tonne (“g/t Au”) over 1.7 metres (“m”), making it a priority target for additional work in 2019; High-grade intercept at the HGM target of 9.20 g/t Au over 0.9 m in hole PEN-18-013 which is located 400 m east of the Crawford target; At the Nib-Yellowknife target, PEN-18-017: 0.89 g/t Au over 7.0 m successfully intercepted multiple zones of mineralization with visible gold present, making it a priority target in future drill programs; and The 4,000 m Phase 1 2019 drill program at the Pen Gold Project is on-going with two drill rigs testing high priority targets in the Reeves, Slate Rock, Jehann and Deerfoot regions.
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02/27/2019
Key Highlights:
GFG Resources Inc. Pen & Dore Gold Projects Location Map 2019 Phase 1 Drill Targets at Reeves, Jehann & Deerfoot 2019 Phase 1 Drill Target at Slate Rock 2019 drill program to consist of approximately 8,000 metres in two phases at the Pen Gold Project; Initiated the 2019 Phase 1 drill program consisting of approximately 4,000 metres in 13-15 drill holes testing six new targets in the Reeves, Jehann, Deerfoot and Slate Rock regions (See Figure 2 and 3); Complete further regional till sampling with the objective to infill areas where gold anomalies have been outlined and to evaluate other gold-bearing corridors where no till sampling has been completed; Conduct a 50-line-kilometre IP survey over the new Jehann region where many significant gold-in-till anomalies have been identified in an area that hosts multiple splays of the Destor-Porcupine Fault Zone (“DPFZ”); and 2018 Drill Results: Initial six holes released while the remaining 13 holes are pending
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01/17/2019
Highlights: Figure 1: Pen Gold Project Drill Targets Figure 2: Deerfoot and Sewell Target Map Figure 3: Sewell Plan Map Figure 4: Sewell Cross Section Core Photo of PEN-18-015 Intersected three distinct high-grade gold structures 50 metres (“m”) west of historic drilling at the Sewell prospect with PEN-18-001: 3.57 grams per tonne of gold (“g/t Au”) over 5.55 m, including 7.44 g/t Au over 1.85 m; 4.20 g/t Au over 1.00 m and 14.70 g/t Au over 0.75 m; Confirmed high-grade gold mineralization at the Sewell prospect with hole PEN-18-015 that returned 33.77 g/t Au over 1.05, including 63.88 g/t Au over 0.55 m; The Company completed 19 holes (4,744 m) with 13 holes pending assay results; and The 2019 exploration program at the Pen Gold Project will ramp-up in early-February with a 4,000 m drill program focused on high priority targets including Reeves, Slate Rock, Jehann and Deerfoot. SASKATOON, Saskatchewan, Jan. 17, 2019 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB:
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