09/11/2023
SASKATOON, Saskatchewan, Sept. 11, 2023 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces the termination of its option and earn-in agreement (the “Agreement” ) with Group 11 Technologies Inc. ( “Group 11” ), a privately-owned corporation, to advance GFG’s Rattlesnake Hills Gold Project (the “Project” ) in Wyoming, United States. Under the terms of the Agreement, Group 11 had the right to acquire, in multiple stages, up to 70% of the Project by completing a series of exploration and development expenditures and making staged cash and equity payments to GFG. The Project remains 100% owned and controlled by GFG.
Brian Skanderbeg, President and CEO of GFG commented, “Through our Agreement and the positive metallurgical results from Rattlesnake Hills, Group 11 demonstrated the real potential for In-Situ Recovery application to be used in the gold industry. We remain an equity holder in Group 11 and wish them the best as they
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09/06/2023
KEY HIGHLIGHTS:
Hole MTC-23-057 returned the deepest high-grade Lower Footwall intercept to-date at the Montclerg Gold Project (“Montclerg” or “Project”) yielding 10.21 grams of gold per tonne (“g/t Au”) over 2.7 m including 16.20 g/t Au over 1.5 metres (“m”) from 330 m below surface. Hole MTC-23-056 intersected multiple zones at MC Central highlighted by 0.92 g/t Au over 33.0 m in the Lower Main Zone and 5.78 g/t Au over 1.1 m in the Lower Footwall Zone. The Phase 1 drill program was highly successful with additional highlight intercepts of ( see news release dated June 27, 2023 ) Hole MTC-23-054 returned multiple gold zones with a highlight of 9.97 g/t Au over 8.1 m in the Upper Footwall Zone, yielding one of the best gram-metre intervals drilled to-date at Montclerg within 60 m from surface. MTC-23-046 intercepted multiple zones 1 km east of the MC Central with a highlight of 1.93 g/t Au over 10.6 m including 4.94 g/t Au over 1.9 m. MTC-23-048 intersected several shallow
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06/27/2023
KEY HIGHLIGHTS:
Drilling at the Montclerg Gold Project (“Montclerg”) continues to return high-grade and bulk tonnage intercepts demonstrating continuity within an expanding gold system. Hole MTC-23-054 returned multiple gold zones with a highlight of: 9.97 grams of gold per tonne (“g/t Au”) over 8.1 metres (“m”) in the Upper Footwall zone, yielding one of the best gram-metre intervals drilled to-date at Montclerg within 60 m from surface. MTC-23-046 intercepted multiple zones 1 km east of the MC Central zone with a highlight of 1.93 g/t Au over 10.6 m including 4.94 g/t Au over 1.9 m. MTC-23-048 intersected several shallow mineralized zones at MC Central with a peak of 4.09 g/t Au over 4.1 m including 6.28 g/t Au over 2.3 m. Assay results from the remaining 5 holes are pending and will be announced as they are received. Achieved nearly 90% drilling hit rate since acquiring the Montclerg Gold Project in late 2021. Drilling is planned to resume in the third quarter with a focus
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05/15/2023
SASKATOON, Saskatchewan, May 15, 2023 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces the appointment of Mr. Anders Carlson as Vice President, Exploration effective May 15, 2023. In connection with the change, Dr. Natalie Pietrzak-Renaud will remain as a consultant in an advisory role for a period of time to ensure a smooth transition.
"We are grateful to Natalie for her unwavering commitment and significant contributions towards advancing our exploration efforts in Timmins. We recognize Natalie as a very talented geologist with exemplary management skills. We sincerely wish her well in all her future professional endeavors following her role with GFG. As we move forward, we are thrilled to welcome Anders to the GFG team. With his vast experience and proven track record in mineral exploration and resource development, Anders undoubtedly brings tremendous value and expertise to our organization," said Brian Skanderbeg,
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04/13/2023
SASKATOON, Saskatchewan, April 13, 2023 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has issued shares pursuant to the previously announced option agreement (the “ Agreement ”) with International Explorers and Prospectors Inc. (“ IEP ”) whereby GFG can acquire a 100% interest of the WWCC Property, located 40 kilometres east of Timmins, Ontario (see news release: “ GFG Finalizes WWCC Property Acquisition East of the Prolific Timmins Gold District ”).
Pursuant to the Agreement, GFG issued a total of 1,213,592 common shares of the Company to IEP at a deemed value of C$0.1236 per common share based on the VWAP for the five previous trading days. The common shares issued will have a statutory hold period of four months and one day from the date of issuance. About GFG Resources Inc.
GFG is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions,
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04/11/2023
KEY HIGHLIGHTS:
First pass drilling at the Aljo Mine Target (“Aljo”) successfully returned high-grade gold intervals at shallow depths across multiple vein systems along with broader intervals of low-grade mineralization. ALJ-22-002: 3.03 grams per tonne gold (“g/t Au”) over 12.9 metres (“m”) including 59.80 g/t Au over 0.60 m and 6.58 g/t Au over 4.3 m including 27.4 g/t Au over 1.0 m Hole MTC-22-044 successfully confirmed gold mineralization continues 1 km to the east of MC Central intersecting two broad zones: MTC-22-044: 0.99 g/t Au over 9.7 m and 0.82 g/t Au over 7.7 m Since acquiring Montclerg just over a year ago, GFG has completed over 11,000 m of drilling from 47 holes and achieved approximately a 90% drilling hit rate. The Phase 1 2023 drill program has begun and is expected to consist of approximately 3,000 m of drilling. The program will focus on infill and step-out drilling on and around the Montclerg Gold Project. In 2023, the Company plans to complete three drill
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03/21/2023
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, March 21, 2023 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) has closed the oversubscribed, private placement financing (the “ Offering ”) ( see news releases dated February 17, 2023 and March 2, 2023 ) for gross proceeds of C$4,199,578. In connection with the Offering, Alamos Gold Inc. (“Alamos”) ( TSX: AGI; NYSE: AGI ) purchased securities to increase their position to a 9.99% interest in the Company.
Pursuant to the Offering, GFG issued (i) 13,389,076 units of the Company (“Units”) at a price of C$0.13 per Unit for gross proceeds of C$1,740,580; (ii) 2,250,000 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$0.15 per FT Share for gross proceeds of C$337,500; and (iii) 11,369,231 premium units of the Company (“Premium Units”) at a price
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03/02/2023
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, March 02, 2023 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces that due to investor demand it has increased the size of its previously announced private placement financing (the “ Offering ”) ( see news release dated February 17, 2023 ) to raise gross proceeds of up to C$4.2 million (the “ Offering ”). In connection with the Offering, the Company is pleased to announce that Alamos Gold Inc. ( TSX: AGI; NYSE: AGI ) has committed to purchasing securities to increase their position to a 9.99% interest in the Company upon completion of the Offering. The Offering will consist of any combination of (i) units of the Company (“Units”) at a price of C$0.13 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$0.15 per FT Share; and (iii)
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02/17/2023
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, Feb. 17, 2023 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces a private placement to raise gross proceeds of up to C$3.0 million (the “ Offering ”). As part of the Offering, the Company is pleased to announce that Alamos Gold Inc. ( TSX: AGI; NYSE: AGI ) has committed to purchase securities in the Offering to increase their position to a 9.99% interest in the Company upon completion of the Offering. The Offering will consist of any combination of (i) units of the Company (“Units”) at a price of C$0.13 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$0.15 per FT Share; and (iii) premium units of the Company (“Premium Units”) at a price of C$0.1866 per Premium Unit, subject to maximum aggregate gross proceeds of C$3.0
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02/08/2023
KEY HIGHLIGHTS:
New drill results from 8 holes continue to show strong continuity and extend high-grade gold mineralization of the Upper and Lower Footwall Zones at the Montclerg Gold Project (“Montclerg”). Hole MTC-22-036 returned near surface high-grade gold: 6.67 grams of gold per tonne (“g/t Au”) over 6.0 metres (“m”) in the Upper Footwall zone, up dip of holes MTC- 22-035 (9.85 g/t Au over 16.0 m) and MTC-21-005 (4.82 g/t Au over 26.0 m). To date, Hole MTC-22-042 returned the broadest and highest-grade intercept at depth in the Lower Footwall Zone: 8.46 g/t Au over 5.0 m in the Lower Footwall Zone . Assay results from the remaining 5 holes are pending and will be announced once received. Since acquiring Montclerg in October 2021, GFG has completed 11,000 m of drilling from 47 holes and achieved approximately a 90% drilling hit rate. Drilling is planned to resume in Q1 with a focus on Montclerg and testing high-priority gold targets across the Goldarm Property. SASKATOON,
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01/18/2023
KEY HIGHLIGHTS:
Drill results from the Montclerg Gold Project (“Montclerg”) continue to intersect high-grade and bulk tonnage gold intercepts demonstrating continuity and a robust gold system. Hole MTC-22-035 returned multiple gold zones: 9.85 grams of gold per tonne (“g/t Au”) over 16.0 metres (“m”) in the Upper Footwall zone, 30 m from hole MTC-21-005 that graded 4.82 g/t Au over 26.0 m. MTC-22-034 intercepted multiple zones above 170 m depth with highlights of 1.34 g/t Au over 15.1 m and 5.26 g/t Au over 9.3 m. Assay results from the remaining 13 holes are pending and will be announced as they are received. Achieved nearly 90% drilling hit rate since acquiring the Montclerg Gold Project in late 2021. Drilling is planned to resume in February with a focus on Montclerg and testing high-priority gold targets across the Goldarm Property.
SASKATOON, Saskatchewan, Jan. 18, 2023 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”)
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