06/18/2020
Key Points:
Figure 1: Plan Map of Regional Targets on the Pen Gold Project
Figure 2: Plan Map of Slate Rock East
Figure 3: Slate Rock East Prospect Cross Section
Figure 4: PEN-20-049 Core Photo with Coarse Visible Gold
Figure 5: Plan Map of Deerfoot Corridor (HGM Prospect)
Figure 6: HGM Prospect Cross Section
Figure 7: HGM Prospect Longitudinal Map
Successful Phase 1 2020 drill program that included: • A new gold discovery at the Nib Prospect of 71.27 grams of gold per tonne over 8.5 metres (previously disclosed on April 6, 2020). • Intercepted significant visible gold and broad zones of low-grade gold mineralization at Slate Rock target in hole PEN-20-049. • Extended the HGM Prospect down to 500 m depth intercepting up to 12.80 g/t Au over 1.0 m. Doubled 2020 exploration budget and plan to complete 8,500 m of drilling starting in July with a primary focus at the Nib discovery.
Read More
05/06/2020
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, May 06, 2020 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has closed the oversubscribed, non-brokered private placement financing (the “Offering”) (see news releases dated April 21, 2020 and April 29, 2020) for gross proceeds of C$5,905,624. As previously disclosed, Alamos Gold Inc. (TSX: AGI; NYSE: AGI) (“Alamos”) has purchased securities under the Offering to obtain a 9.9% interest in the Company. Pursuant to the Offering, the Company issued (i) 15,818,420 common shares of the Company that will qualify as “flow-through shares” ( “FT Shares” ) for the purposes of the Income Tax Act (Canada) at a price of C$0.2907 per share for gross proceeds of C$4,598,415 and (ii) 6,880,045 non-flow-through common shares ( “NFT Shares” ) of the Company at a price of C$0.19 per share for gross proceeds of C$1,307,209. “The Company is pleased to
Read More
04/29/2020
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, April 29, 2020 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it intends to increase the size of its previously announced non-brokered private placement financing (the “Offering”) (see news release dated April 21, 2020) to an aggregate total of approximately C$6.0 million to accommodate demand from existing and new shareholders. As previously disclosed, Alamos Gold Inc. (TSX: AGI; NYSE: AGI) (“Alamos”) has committed to purchase securities under the Offering to obtain a 9.9% interest in the Company upon completion of the Offering. The Offering will consist of any combination of common shares of the Company that will qualify as “flow-through shares” ( “FT Shares” ) for the purposes of the Income Tax Act (Canada) at a price of C$0.2907 per share and non-flow-through common shares ( “NFT Shares” ) of the Company at a price of C$0.19 per
Read More
04/21/2020
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES SASKATOON, Saskatchewan, April 21, 2020 (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$5.0 million (the “Offering”). As part of the Offering, the Company is pleased to announce that Alamos Gold Inc. (TSX: AGI; NYSE: AGI) (“Alamos”) has committed to purchase securities under the Offering to obtain a 9.9% interest in the Company upon completion of the Offering. The Offering will consist of any combination of common shares of the Company that will qualify as “flow-through shares” ( “FT Shares” ) for the purposes of the Income Tax Act (Canada) at a price of C$0.291 per share and non-flow-through common shares ( “NFT Shares” ) of the Company at a price of C$0.19 per share, subject to maximum aggregate gross proceeds of C$5.0 million. “We are excited to welcome Alamos as our strategic partner,” stated
Read More
04/06/2020
SASKATOON, Saskatchewan, April 06, 2020 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) reports it has intersected a significant high-grade gold system at the Nib Prospect at its 100% owned Pen Gold Project (the “Project”) located 40 kilometres west of the prolific Timmins Gold District in Ontario, Canada. Hole PEN-20-47 intersected 71.27 grams of gold per tonne (“g/t Au”) over 8.5 metres (“m”) including 511.00 g/t Au over 1.15 m at a vertical depth of approximately 50 m below surface (See Table 1 and Figures 1-4). Plan Map of Regional Targets on the Pen Gold Project Plan Map of the Nib Prospect Cross Section of the Nib Prospect at Pen Gold Project Core Photos of Hole PEN-20-47 from Nib Prospect During the first quarter of 2020, the Company completed seven holes (2,751 m) as part of its 2020 Phase 1 drill program. Currently, the Company is drilling the final hole of the program at the HGM Prospect and expects to finish the hole in the coming
Read More
04/03/2020
SASKATOON, Saskatchewan, April 03, 2020 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) reports it has been advised by Newcrest Resources Inc., a wholly-owned subsidiary of Newcrest Mining Limited (ASX: NCM) (“Newcrest”) of its decision to withdraw from the option and earn-in agreement for the Rattlesnake Hills Gold Project (the “Project”) in Wyoming, United States. The Project remains 100% owned and controlled by GFG.
Since September 2018, Newcrest has invested approximately US$5.0 million in exploration expenditures on the Project which included over 4,000 metres (“m”) of drilling, extensive reprocessing and modelling of regional and local geophysics, hyperspectral scanning of historic core and the application of machine learning technology to generate a new deposit-scale alteration and targeting model. “We are grateful to have been able to work with Newcrest’s world-class team over the past 18 months,” stated Brian Skanderbeg,
Read More
02/20/2020
SASKATOON, Saskatchewan, Feb. 20, 2020 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) announces that it has extended the option period under the Rattlesnake Hills Gold Project option and earn-in Agreement (the “Agreement”) with Newcrest Resources Inc., a wholly-owned subsidiary of Newcrest Mining Limited (ASX: NCM) (“Newcrest”) from March 9, 2020 to May 1, 2020.
The extension will allow Newcrest additional time to consider exercising its option to enter into the earn-in phase of the Agreement. The earn-in phase consists of three stages whereby Newcrest can earn up to 75% of the Project over an eight-year period. See news release dated September 8, 2018 “GFG Signs Option and Earn-In Agreement with Newcrest to Advance the Rattlesnake Hills Gold Project” for complete details of the Agreement. About GFG Resources Inc.
GFG Resources is a North American precious metals exploration company focused on district scale gold projects in tier
Read More
02/19/2020
Highlights: Regional Targets on the Pen Gold Project Plan Map of the Deerfoot Area and 2019 Drill Results Plan Map of the Tremblay Area and 2019 Drill Results Phase 1 2020 Drill program has commenced and is focussed on testing the HGM, Nib, Broadway and Slate Rock targets with approximately 3,500 metres; Hole PEN-19-40 intersected 2.29 g/t Au over 2.5 metres (including 7.30 g/t Au over 0.7 metres) in initial drilling at the new Broadway target; and Hole PEN-19-041 intersected altered feldspar-porphyry at the Crawford target which graded 8.70 g/t Au over 0.6 metres. SASKATOON, Saskatchewan, Feb. 19, 2020 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) reports the remaining drill core assay results from 2019 and announces the commencement of its 2020 drill program at its 100% owned Pen Gold Project (the “Project”) located 40 kilometres west of the prolific Timmins Gold District in Ontario, Canada. Brian Skanderbeg, President and CEO commented,
Read More
01/16/2020
SASKATOON, Saskatchewan, Jan. 16, 2020 (GLOBE NEWSWIRE) - GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”), report assay results from the 2019 drill program at the Rattlesnake Hills Gold Project (“RSH” or the “Project”) in Wyoming, United States that is managed by GFG under the option and earn-in agreement with Newcrest Resources Inc., a wholly-owned subsidiary of Newcrest Mining Limited (ASX: NCM) (“Newcrest”). The drill program, consisting of 3,900 metres of core drilling in three holes, tested multiple gold targets proximal to the North Stock deposit (See Table 1 and Figures 1 and 2). Rattlesnake Hills Gold Project Drill Targets in Plan View Map Rattlesnake Hills Gold Project North-South Cross Section Map of Drill Targets Brian Skanderbeg, President and CEO commented, “The 2019 drill program intercepted broad gold intervals associated with shallow extensions to the RSH gold system, extending the North Stock system to the west and southeast. This initial test
Read More
01/08/2020
Highlights: Drill Targets on the East Block of the Pen Gold Project Plan Map of the Deerfoot Trend Cross Section of the HGM Target Longitudinal Section of the HGM Target Core Photo of Visible Gold in hole PEN-19-39 (sample at 310.5 m downhole) Core Photo of Visible Gold in hole PEN-19-39 (sample at 371.5 m downhole) 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. SASKATOON, Saskatchewan, Jan. 08, 2020 (GLOBE NEWSWIRE)
Read More