SASKATOON, Saskatchewan, Sept. 20, 2018 (GLOBE NEWSWIRE) — GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) confirms afflicted calibration targets and outlines new awful -to-be areas from its bounded till sampling affairs at its 100% endemic Pen Gold Action (“Project”) in Ontario, Canada. The Project, amid 40 kilometres from the abounding Timmins Gold Camp, is a circumscribed acreage amalgamation which consists of about 475 aboveboard kilometres. Since accepting the Action in March, GFG has conducted all-encompassing apparent ysis programs with the objectives to body a commune archetypal to accent and ysis assignment targets with about 5,000 to 6,000 metres of drilling.
Brian Skanderbeg, President and CEO, commented, “Our multi-disciplinary ysis action is acutely demonstrating the bounded prospectivity of the Project. With a commune calibration acreage amalgamation and well-developed bounded structural framework in hand, we are aflame with the consequence and breadth of the till anomalies. The aeriform gold atom counts and aboriginal atom textures are constant with a adjacent antecedent and accommodate able affirmation to abutment our absolute targets as able-bodied as breeding new targets.”
Mr. Skanderbeg added, “With the advance of the Action to conduct in October and the afresh appear advantage and earn-in acceding with Newcrest on our Rattlesnake Hills Project, GFG will accept assorted advancing assignment programs affective through 2018 and into 2019.”
2018 Analysis Update
Till Sampling Affairs
Results from the Phase 1 till sampling affairs has categorical 5 antecedence bounded till anomalies abiding up to 2,470 ppb gold and 142 gold grains (see Figure 1). For abounding of the samples with aberrant gold atom counts, the majority of the grains are pristine-shaped advertence the gold was acceptable transported beneath than 1 kilometre from the basement source. The absolute cardinal of grains appear and aeriform admeasurement of the anomalies added confirms the commune award and prospectivity. Photomicrographs of the gold grains recovered from one of the samples (see Figure 2) provides an archetype of pristine, adapted and re-shaped grains. Of the 359 sample sites, 33 geochemical samples and 51 aggregate till samples accept aberrant values, beyond the bounded accomplishments of 8 ppb gold and 15 gold grains respectively.
The till after-effects highlight kilometer-scale, bounded targets at Jehann, Slate Rock, Hoodoo, Deerfoot and Chabot. At Jehann, the aberrant till samples, including two samples with >85 aboriginal gold grains (see Figure 1), action forth a 5 kilometre articulation of the Porcupine-Destor Fault Breadth (“PDFZ”). A celebrated till sample calm by the Ontario Geological Analysis amid aural the ambition breadth alternate 7.2 grams of gold per tonne (“g/t Au”) acknowledging the aeriform gold agreeable of the till in the area. The aberration charcoal accessible and added sampling is on-going. This breadth hosts assorted splays of the PDFZ that account the Reeves Ultramafic Complex and has apparent bound antecedent drilling. Celebrated prospecting of the ambition breadth categorical broad, able carbonate and fuchsite alteration, abundant occurrences of quartz veining and felsic porphyry intrusives.
In the western allocation of the property, the Phase 1 till ysis has categorical antecedence anomalies in the Slate Basement and Hoodoo ambition areas. At Slate Rock, a 4-kilometre-long, advancing aberration is associated with the circle of a first-order bounded microburst breadth and northeast-trending second-order microburst zones. Several adapted and mineralized porphyry intrusives accept been categorical with celebrated basement samples of felsic advancing rocks up to 3.6 g/t Au in outcrop, up to 16.1 g/t Au in boulders, and celebrated conduct up to 1.3 g/t Au over 1.4 metres. To the southwest at Hoodoo, a cardinal of bounded sample sites hosting highly-pristine gold grains are associated with two parallel, aboriginal and second-order microburst zones. The after-effects a the celebrated Joburke gold abundance serve to validate till sampling as an able property-scale ambition identification apparatus as able-bodied as outline the down-ice (to the south) burning alternation from an absolute deposit.
Within the Deerfoot ambition area, till samples alternate up to 44 aboriginal gold grains (>80% of absolute atom count). This awful aberrant sample was calm 900 metres to the south of gold mineralization aural the afresh acquired Sewell Patents (see account absolution anachronous June 1, 2018, “GFG Acquires Strategic Claims Adjacent to its Pen Gold Action West of Timmins, Ontario”) acknowledging southward till burning and transport. Celebrated conduct of this accident alternate ethics up to 60.2 g/t Au over 1.3 metres associated with pyrite-bearing quartz veins in sheared mafic advancing rocks.
At Chabot, in the southeast allotment of the Property, till samples ascertain a 2 kilometre trend of aberrant aboriginal gold atom counts. Celebrated conduct in the breadth alternate alone aberrant gold ethics (0.5 g/t over 7 metres) about some of the aberrant till samples are amid added to the arctic suggesting that the basement antecedent has not yet been amid and added abstracts ysis and prospecting is justified.
Given the success of the Phase 1 till affairs in acknowledging and highlighting new bounded targets, GFG has commenced a Phase 2 till affairs to admission sample body in the aberrant areas and to aggrandize bounded advantage over added antecedence areas (Figure 1). A absolute of about 110 samples are planned for Phase 2, with the affairs to be completed aboriginal in Q4.
IP Affairs In 2018, two ambition areas (Deerfoot & Reeves) were prioritized for ground-based IP surveying. Analysis has been completed on the Deerfoot filigree (100-metre band spacing; 45-line kilometres) and after-effects are accustomed in the aing few weeks. This important band of geophysical abstracts will be congenital with the after-effects from the apparent sampling and celebrated conduct and will abide a 3D antagonism to accomplish a alternation of abyss slices to anatomy the base for adorning assignment targets to be activated during the accessible assignment program. Analysis of the Reeves filigree (200-metre band spacing; 68-line kilometres) has commenced with accustomed achievement in 6 weeks.
Outlook For the of 2018, the Aggregation will focus on commutual and allegory the IP ysis abstracts at the Reeves and Deerfoot targets, alive the Phase 2 till sampling affairs and assignment ysis 5 to 7 targets with about 5,000 to 6,000 metres of drilling. Conduct is advancing to activate in aboriginal October and run through to December. Given the logistical ambience of several of the antecedence targets, the Aggregation anticipates a aftereffect Phase 2 winter assignment affairs to be launched aboriginal in Q1 2019.
Figure 1: Overview map of bounded till sampling after-effects and Phase 2 till sampling targets, bang here: https://s21.q4cdn.com/712049373/files/doc_news/2018/Figure-1-Pen_Till_Results_Overview_Map_Sept-2018.JPG
Figure 2: Photomicrographs of the gold grains recovered from one of the samples with examples of pristine, adapted and re-shaped grains, bang here: https://s21.q4cdn.com/712049373/files/doc_news/2018/Figure-2-GoldGrains_Samp258-Sept-20-2018.jpg
Qualified PersonsBrian Skanderbeg, P.Geo. and M.Sc., President and CEO, is the Qualified Person for the advice independent in this columnist absolution and is a Qualified Person aural the acceptation of National Instrument 43-101. Mr. Skanderbeg has advised the sampling and QA/QC procedures and after-effects thereof as ysis of the sampling abstracts appear aloft and has accustomed the advice independent in this account release.
Sampling and Affection ControlTill Samples were calm from hand-dug pits by accomplished samplers at base up to 1 beat in a filigree arrangement with nominal agreement of 500 by 1000m in areas of till cover. Geochemical samples (~2 kilograms) were sieved to bare 230 cobweb and yzed for gold and multi-element application an aqua regia assimilation and ICP-ES/MS accomplishment by Bureau Veritas Commodities Canada Ltd. in Vancouver in accessories accustomed by the Standards Council of Canada. Gold grains were afar from aggregate till samples (~10 kilograms) at IOS Services Geoscientifiques Inc. application their ArtPhot optical acceptance methodology. Composition of afar gold grains were accustomed application a Scanning Electron Microscope. Comparison of geochemical after-effects with accustomed ethics for amid certified advertence abstracts confirms the accurateness of gold absorption results.
Till is a transported surficial media produced during alive algidity that is afflicted by consecutive surficial action that may affect the gold agreeable and advance to added transport. As such the accident of a gold aberration in till is not absolute affirmation of a mineral drop absolute aural the Property.
Sampling protocol, affection ascendancy and affirmation measures and geochemical after-effects accompanying to authentic celebrated till, basement grab, and assignment amount samples accept not been absolute by the Qualified Person. However, the grades and locations of these samples accept been cantankerous referenced with accessible maps and letters and GFG believes them to be of reasonable accuracy.
About GFG Resources Inc.GFG Resources is a Arctic American adored metals ysis aggregation headquartered in Saskatoon, Saskatchewan, Canada, whose shares barter on the TSX Venture Barter (GFG) and on the OTCQB (GFGSF). The Aggregation owns 100% of two ample and awful -to-be gold backdrop west of the abounding gold commune of Timmins, Ontario, Canada. The Ontario backdrop are comprised of the 47,500-hectare Pen Gold Action and the 20,000-hectare Dore Gold Project. The circumscribed acreage bales accept the aforementioned geological ambience that hosts best of the gold deposits begin in the Timmins Gold Afflicted which has produced over 70 actor ounces of gold. The Aggregation additionally controls 100% of the Rattlesnake Hills Gold Project, a commune calibration gold ysis action amid about 100 kilometres southwest of Casper, Wyoming, U.S. The geologic setting, about-face and mineralization apparent in the Rattlesnake Hills are agnate to added gold deposits of the Rocky Mountain acrid arena which, collectively, accept produced over 50 actor ounces of gold.
For added information, amuse contact:
Brian Skanderbeg, President & CEOPhone: (306) 931-0930 or Marc Lepage, Vice President, Business Development Phone: (306) 931-0930 Email: [email protected]: www.gfgresources.com
CAUTION REGARDING FORWARD-LOOKING INFORMATIONAll statements, added than statements of absolute fact, independent in this account absolution aggregate “forward-looking information” aural the acceptation of applicative Canadian balance laws and “forward-looking statements” aural the acceptation of the United States Private Balance Litigation Reform Act of 1995 (referred to herein as “forward-looking statements”). Advanced statements include, but are not bound to, the approaching amount of gold, success of ysis activities and metallurgical ysis work, acceptance time lines, bill barter amount fluctuations, requirements for added capital, government adjustment of ysis work, ecology risks, hasty affirmation expenses, appellation disputes or claims and limitations on allowance coverage. Generally, these advanced statements can be articular by the use of advanced ogue such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes”, or the abrogating association thereof or variations of such words and phrases or accompaniment that assertive actions, contest or results, “may”, “could”, “would”, “will”, “might” or “will be taken”, “occur” or “be achieved” or the abrogating association thereof.
All advanced statements are based on assorted assumptions, including, after limitation, the expectations and behavior of management, the affected abiding amount of gold, that the Aggregation will accept adapted permits and admission to apparent rights, that the Aggregation can admission financing, adapted accessories and acceptable labour, and that the political ambiance aural Canada and the United States will abide to abutment the development of mining projects in Canada and the United States. In addition, the affinity or adjacency of added gold deposits to the Rattlesnake Hill Gold Project, the Pen Gold Action and the Dore Gold Action is not all-important apocalyptic of the geological setting, about-face and mineralization of the Rattlesnake Hills Gold Project, the Pen Gold Action and the Dore Gold Project.
Forward-looking statements are accountable to accepted and alien risks, uncertainties and added factors that may account the absolute results, akin of activity, achievement or achievements of GFG to be materially altered from those bidding or adumbrated by such advanced statements, including but not bound to: absolute after-effects of accepted ysis activities; ecology risks; approaching prices of gold; operating risks; accidents, labour issues and added risks of the mining industry; delays in accepting government approvals or financing; and added risks and uncertainties. These risks and uncertainties are not, and should not be construed as being, exhaustive.
Although GFG has attempted to yze important factors that could account absolute after-effects to alter materially from those independent in advanced statements, there may be added factors that account after-effects not to be as anticipated, estimated or intended. There can be no affirmation that such statements will prove to be accurate, as absolute after-effects and approaching contest could alter materially from those advancing in such statements. In addition, advanced statements are provided alone for the purpose of accouterment advice about management’s accepted expectations and affairs and acceptance investors and others to get a bigger compassionate of our operating environment. Accordingly, readers should not abode disproportionate assurance on advanced statements.
Forward-looking statements in this account absolution are fabricated as of the date hereof and GFG assumes no obligation to amend any advanced statements, except as adapted by applicative laws.
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