11/09/2022
KEY HIGHLIGHTS:
2022 Phase 2 drill program of approximately 4,000 metres (“m”) has started with a primary focus on infill and expansion drilling at the MC West, MC Central and MC East targets at the Montclerg Gold Project in the Timmins Gold District of Ontario, Canada The Phase 2 drill program is primarily designed to test the strike and depth continuity to grow the Montclerg gold system and to complete step-out drilling to the east where limited drilling has been completed Follow-up testing on the Upper Footwall and Upper and Lower Main Zones where GFG intersected high-grade and broad gold mineralization, from holes MTC-21-05 ( 4.82 g/t Au over 26.0 m ) and MTC-21-023 ( 1.60 g/t Au over 70.4 m ) within the MC Central target Contingent on timing and permitting, the Company may complete a first pass drill test around the historic high-grade Aljo Gold Mine and Carr regional targets Drilling is anticipated to be completed in December 2022 and the Company is planning to resume
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10/21/2022
SASKATOON, Saskatchewan, Oct. 21, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has made the first of two anniversary payments 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 Montclerg Gold Project, located 40 kilometres east of Timmins, Ontario (see news release: “ GFG Expands Presence in Timmins - Acquires the Montclerg Gold Project East of the Prolific Timmins Gold District ”).
Pursuant to the Agreement, GFG issued a total of 5,353,721 common shares of the Company to IEP at a deemed value of C$0.0934 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
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10/06/2022
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, Oct. 06, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) has closed the oversubscribed, private placement financing (the “ Offering ”) (see news releases dated August 30, 2022 and October 5, 2022 ) for gross proceeds of C$2,051,743. As part of the Offering, GFG is pleased to announce that its strategic investor, Alamos Gold Inc. (TSX: AGI; NYSE: AGI) (“Alamos”) , participated in the Offering on a pro-rata basis. “The Company is pleased to close the oversubscribed financing and grateful for the continued support from our long-standing shareholders and new owners during these challenging market conditions,” stated Brian Skanderbeg, President and CEO of GFG. “The support from Alamos, long-term shareholders and insider participation is a testament to the quality of our assets, team and confidence in the potential of outlining the next Timmins gold
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10/05/2022
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, Oct. 05, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: 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 August 30, 2022 ) to an aggregate total of up to C$2.06 million. As part of the current Offering, the Company is pleased to announce that its strategic investor, Alamos Gold Inc. (TSX: AGI; NYSE: AGI) (“Alamos”), has committed to participate in the Offering on a pro-rata basis. The Offering will consist of any combination of (i) units of the Company (“Units”) at a price of C$0.11 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$0.13 per FT Share; and (iii) premium units of the Company (“Premium Units”) at a price of
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09/12/2022
SASKATOON, Saskatchewan, Sept. 12, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) is pleased to announce the appointment of Ms. Natalie Pietrzak-Renaud as Vice President, Exploration effective immediately. Ms. Pietrzak-Renaud will be responsible for leading the Company’s exploration programs at its gold projects in the prolific Timmins gold district in Ontario, Canada.
Natalie is a Professional Geologist with over 20 years mineral exploration experience in the Americas. She has extensive experience in managing and developing exploration programs and has worked on world class deposits including Fruta del Norta gold project, Equador (Lundin Gold) and the Strange Lake rare earth element deposit (Torngat Metals), Quebec Canada. She has also worked in other known deposits such as the Coffee gold project, Yukon (Newmont Goldcorp), and the Renard pipe (Stornoway diamonds). Most recently she was Vice President, Exploration for E2Gold
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08/30/2022
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, Aug. 30, 2022 (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$2.0 million (the “ Offering ”). The Offering will consist of any combination of (i) units of the Company (“Units”) at a price of C$0.11 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$0.13 per FT Share; and (iii) premium units of the Company (“Premium Units”) at a price of C$0.16 per Premium Unit, subject to maximum aggregate gross proceeds of C$2.0 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 additional
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08/22/2022
KEY HIGHLIGHTS:
Demonstrated strong continuity at MC Central zone with multiple gold zones intersected: MTC-22-029: 4.98 grams of gold per tonne (“g/t Au”) over 7.1 metres (“m”). MTC-22-030: 3.40 g/t Au over 15.0 m. Achieved over 85% hit rate in drilling since acquiring the Montclerg Gold Project in October of 2021. Surface regional exploration program demonstrating high prospectivity across the Goldarm Property with approximately 300 rock samples and 63 till samples collected. 2022 Phase 2 drill program is expected to begin in October with approximately 4,000 – 6,000 m. SASKATOON, Saskatchewan, Aug. 22, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) reports the remaining five assay results from its 2022 Phase 1 drill program at the Montclerg Gold Project (the “Project” and/or “Montclerg” ). The Project is located 48 kilometres (“km”) east of the prolific Timmins Gold District in Ontario, Canada ( See Figure 1 ) which has
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07/20/2022
KEY HIGHLIGHTS:
Best Main Zone drill intercept to date at Montclerg from hole MTC-22-023 intersecting 1.60 grams of gold per tonne (“g/t Au”) over 70.4 metres (“m”) near surface. A second gold zone was intersected in hole MTC-22-023 returning 4.97 g/t Au over 4.8 m. Infill hole MTC-22-021 intersected 1.51 g/t Au over 21.7 m and ended in mineralization. Significant step-out drilling demonstrates the Montclerg gold system continues for 530 m east and remains open, with assays up to 1.4 m at 3.0 g/t Au. In 2022, the Company plans to complete approximately 8,000 - 10,000 m of drilling and a significant surface regional exploration program has been initiated.
SASKATOON, Saskatchewan, July 20, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) reports new assay results from its 2022 Phase 1 drill program at the Montclerg Gold Project (the “Project” and/or “Montclerg” ), located 48 kilometres (“km”) east of the prolific Timmins
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06/23/2022
KEY HIGHLIGHTS:
Step-out drilling on the MC West target returned strong near surface intercept of 1.32 grams of gold per tonne (“g/t Au”) over 33.5 metres (“m”) in hole MTC-22-015. High-grade gold was encountered at the MC West target 3.51 g/t Au over 5.9 m including 7.93 g/t Au over 2.1 m in hole MTC-22-018. Infill drilling at the MC Central Upper Footwall Zone reinforced high-grade gold mineralization from holes MTC-22-019 (4.38 g/t Au over 5.5 m) and MTC-22-020 ( 4.95 g/t Au over 8.3 m, including 12.83 g/t Au over 2.5 m ). Successfully completed the Phase 1 2022 drill program with 17 holes totalling 4,200 m, which confirmed regional scale gold mineralization. Since acquiring the Montclerg Gold Project in October 2021, the Company has completed a total of 7,200 m of drilling in 30 holes. In 2022, the Company plans to complete approximately 10,000 m of drilling and surface regional exploration programs on the Goldarm and Pen gold projects. SASKATOON, Saskatchewan, June 23,
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04/28/2022
KEY HIGHLIGHTS:
2021 Step-out drilling on the MC East returned high-grade gold intercepts 8.26 grams of gold per tonne (“g/t Au”) over 1.0 metres (“m”) and 6.63 g/t Au over 1.5 m from hole MTC-21-012 Expands high-grade gold mineralization, from hole MTC-21-05 ( 4.82 g/t Au over 26.0 m ) and MTC-21-06 ( 8.34 g/t Au over 7.5 m ) within the MC Central target, 100 m to the east into the MC East target Successfully completed the Phase 1 2022 drill program with 17 holes totalling 4,200 m, which confirmed regional scale gold mineralization 2022 Phase 1 infill and step-out drilling at the Montclerg Gold Project intercepted broad zones of sulphidation, quartz veining and alteration similar to holes MTC-21-05 and -06 SASKATOON, Saskatchewan, April 28, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) reports encouraging final assay results from its 2021 drill program and that it has completed the Phase 1, 4,200 m, 2022 drill program at the
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04/27/2022
SASKATOON, Saskatchewan, April 27, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces that it has finalized the previously announced acquisition (the “ Agreement ”) of 100% interest in 14 unpatented mining claims (the “ Coulson Claims ”) with private, arm’s length vendors (the “ Vendors ”). The Coulson Claims are adjacent to the Company’s newly consolidated Goldarm Property ( See Figure 1 ) east of the prolific Timmins Gold District.
The historic Aljo Mine is located on the Coulson Claims and was the focus of underground exploration and development during the early 1900’s, including two shafts to depths of 400 and 575 feet. Limited, intermittent production occurred through the 1940’s. More recently, Kingswood Exploration completed surface exploration and drilling on the property between 1988 and 1992. This historic drilling returned high-grade gold mineralization associated with quartz-carbonate veins in highly
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04/13/2022
SASKATOON, Saskatchewan, April 13, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces that the Company has completed its initial obligations pursuant to its previously announced definitive agreement (the “ Agreement ”) with International Explorers and Prospectors Inc. (“ IEP ”) to acquire a 100% interest in the 6,500-hectare WWCC property, subject to certain pre-existing encumbrances (the “ Encumbrances ”) ( See news release dated February 24, 2022 ). In addition, the Company has staked a contiguous 6,800-hectare land package that is adjacent to the WWCC property, and collectively with the Montclerg Gold Project, will be referred to as the Goldarm Property (the “ Property ”). Brian Skanderbeg, President and CEO of GFG, commented, “We are pleased to finalize the consolidation of WWCC property along with other strategic claims that make up our Goldarm Property. We believe that this area is highly prospective to host gold
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04/08/2022
SASKATOON, Saskatchewan, April 08, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces that Mr. Rob Mackie, Vice President of Exploration, has resigned to pursue another opportunity. The Company has commenced a search for a new Vice President of Exploration. The current drill and exploration programs will not be disrupted, and the technical team will report to the CEO until the role is filled.
Brian Skanderbeg, President and CEO of GFG, commented, “On behalf of the GFG team and Board, I would like to acknowledge and thank Rob for his significant contributions over the past four years. Under his leadership, GFG has built a very strong exploration team, consolidated a highly prospective regional land position and developed a successful targeting framework; we wish him the very best in his new endeavors.” About GFG Resources Inc.
GFG is a North American precious metals exploration company focused on district scale gold
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04/06/2022
SASKATOON, Saskatchewan, April 06, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) announces that it has entered into a binding letter of intent (the “ Agreement ”) with private, arm’s length vendors (the “ Vendors ”) to acquire a 100% interest in 14 unpatented mining claims (the “ Coulson Claims ”) adjacent to the Goldarm Property ( See Figure 1 ). Brian Skanderbeg, President and CEO of GFG, commented, “We are happy to add the strategic Coulson Claims that host historic underground development at the Aljo Mine to our recently consolidated land package. The high-grade gold values and the fact that gold mineralization exists in a variety of geological settings and orientations demonstrates the prospectivity of the property and our contiguous Goldarm Property.” The Aljo Mine was the focus of underground exploration and development during the early 1900’s, including two shafts to depths of 400 and 575 feet. Limited, intermittent
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03/30/2022
SASKATOON, Saskatchewan, March 30, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) is pleased to announce that the TSX Venture Exchange (“TSXV”) has conditionally approved its previously announced acquisition with International Explorers and Prospectors Inc. (the “ Agreement ”) to acquire a 100% interest in the 6,500-hectare WWCC property (see press release dated February 24, 2022 ), subject to certain pre-existing encumbrances. The Company anticipates to close the Agreement in the near future. About GFG Resources Inc.
GFG is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company operates three gold projects, each large and highly prospective gold properties within the prolific gold district of Timmins, Ontario, Canada. The projects have similar geological settings that host most of the gold deposits found in the
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03/22/2022
KEY HIGHLIGHTS:
Additional high-grade and bulk tonnage gold intercepts from four new assay results from the inaugural 2021 drill program at the Montclerg Gold Project Hole MTC-21-006 returned 8.34 grams of gold per tonne (g/t Au) over 7.5 metres (m), 40 m east of hole MTC-21-005 that graded 4.82 g/t Au over 26.0 m MTC-21-007 intercepted multiple bulk-tonnage zones above 125 m depth that graded 1.40 g/t Au over 31.1 m and 1.11 g/t Au over 23.0 m Assay results from the remaining five holes are pending and expect to be received in the coming weeks Drilling resumed in March at the Montclerg Gold Project with a 5,000 m Phase 1 drill program
SASKATOON, Saskatchewan, March 22, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) reports new assay results from four drill holes that have intersected multiple zones of significant gold mineralization at the Montclerg Gold Project (the “Project” and/or “Montclerg”), located 48 kilometres
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03/15/2022
SASKATOON, Saskatchewan, March 15, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) is pleased to report that it has received positive metallurgical results from the Rattlesnake Hills Gold Project (“ RSH Project ”) located in Wyoming, U.S. from its option partner, Group 11 Technologies Inc. (“ Group 11 ”), (see news release: “ GFG Signs Option Agreement with Group 11 Technologies to Advance the Rattlesnake Hills Gold Project with Disruptive Technology ”). Provided below are the first test results in the process to develop In-situ Recovery (“ ISR ”) technology for gold mining using EnviroMetal Technologies Inc. (“ EnviroMetal ”) non-cyanide and environmentally friendly leaching solution. The gold recovery tests from uncrushed half-core samples demonstrated recoveries ranging from 15.9% to 77.5%, averaging 48.2% while the bottle roll testing of crushed material returned gold recoveries ranging from 38.3% to 89.5%, averaging 61.4%.
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02/24/2022
SASKATOON, Saskatchewan, Feb. 24, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“ GFG ” or the “ Company ”) is pleased to announce that it has entered into a definitive agreement (the “ Agreement ”) with International Explorers and Prospectors Inc. (“ IEP ”) to acquire a 100% interest in the 6,500-hectare WWCC property, subject to certain pre-existing encumbrances. In addition, the Company has staked a contiguous 6,800-hectare land package that is adjacent to the WWCC property, and collectively with the Montclerg Gold Project, will be referred to as the Goldarm Property (the “ Property ”).
The consolidated Goldarm Property consists of approximately 15,000 hectares and covers over 30 kilometres (“ km ”) of the prospective Pipestone and North Pipestone deformation zones which hosts multiple gold deposits and mines in one of the most prolific gold districts in the world (See Figures 1-2) . The geological setting is analogous to many of the Timmins gold
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02/14/2022
SASKATOON, Saskatchewan, Feb. 14, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) pursuant to the Company’s annual executive compensation program, the Company announced that it has granted stock options to directors, officers, employees and senior consultants to purchase up to an aggregate of 2,469,118 common shares of the Company. The stock options have various vesting periods and are exercisable for a period of five years at a price of $0.17 per common share, being the closing price on February 11, 2022. All options were granted pursuant to the Company’s stock option plan.
About GFG Resources Inc.
GFG is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company operates the Montclerg, Pen and Dore gold projects, each large and highly prospective gold properties within the prolific gold district of Timmins,
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02/10/2022
SASKATOON, Saskatchewan, Feb. 10, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) reports new assay results from three drill holes that have intersected multiple zones of significant gold mineralization at the Montclerg Gold Project (the “Project” and/or “Montclerg”), located 48 kilometres (“km”) east of the prolific Timmins Gold District in Ontario, Canada ( See Figure 1 ). During the fourth quarter of 2021, the Company drilled a total of 3,210 metres (“m”) from 14 holes in its inaugural Phase 1 drill program. To date, the Company has received drill assay results from five holes and have successfully returned both high-grade and bulk tonnage intercepts from the MC Central target (see Table 1 and Figures 2-6) with highlights including: Hole MTC-21-005 : Upper Footwall zone: 4.82 grams of gold per tonne (“g/t” Au) over 26.0 m including 12.32 g/t Au over 5.5 m; and Upper Footwall zone: 11.29 g/t Au over 1.7 m Hole MTC-21-004: Upper Main
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01/24/2022
SASKATOON, Saskatchewan, Jan. 24, 2022 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has received assays from the first hole from its 2021 Phase 1 drill program at the Montclerg Gold Project (the “Project” and/or “Montclerg”) ( See news release : “ GFG Provides Exploration Update and Launches 3,000 Metre Drill Program at Montclerg Gold Project, East of Timmins ”). The hole returned both high grade and bulk tonnage intercepts from the MC Central Panel at Montclerg ( See Table 1 and Figures 2-3 ). In 2022, the Company is planning to drill approximately 10,000 metres (“m”) at Montclerg with a first phase of 3-4,000 m of drilling to start in February.
Hole MTC-21-001, a 50 m step-out hole from historic drilling in 1986, has returned multiple bulk tonnage intercepts which include 1.56 grams of gold per tonne (“g/t Au”) over 27.5 m and 0.78 g/t Au over 40.5 m. Hole MTC-21-001 is the first hole to follow-up from the 1986
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