GFG drills 22.9 m of 0.95 g/t Au at Rat­tlesnake Hills

Stockwatch Daily - - MINES & METALS - Mr. Brian Skan­der­beg re­ports

GFG RE­SOURCES Inc. has re­leased fur­ther drill re­sults from its con­tin­u­ing 2017 ex­plo­ration drill pro­gram at its 100-per­cent-con­trolled Rat­tlesnake Hills gold project in Wy­oming. The 2017 ex­plo­ration pro­gram was de­signed to take an ag­gres­sive, district-scale ap­proach by test­ing be­yond the bound­aries of his­tor­i­cal drilling and eval­u­at­ing new tar­gets in the district that have sim­i­lar ge­o­logic traits to North Stock and An­te­lope basin. Year to date, stepout drilling has suc­cess­fully proven that the known gold de­posits re­main open and con­tinue to grow.

High­lights

• Ex­tended gold min­er­al­iza­tion 100 me­tres to the west at North Stock in RSR-019, which in­ter­sected 0.95 gram per tonne gold over 22.9 me­tres and hosted

vis­i­ble gold;

• Hole RSR-011, a 130-me­tre stepout hole, ex­tends gold min­er­al­iza­tion to the west, re­turn­ing 0.88 g/t Au over 18.3 me­tres and 0.59 g/t Au over 53.3 me­tres. Sys­tem re­mains open to the west;

• Hole RSR-014, high­lighted by 0.88 g/t Au over 27.4 me­tres and 0.40 g/t Au over 64.0 me­tres, ex­panded the south­west­ern ex­ten­sion of the North Stock de­posit by 75 me­tres;

• Hole RSC-186 was a 200-me­tre stepout hole to the east from the North Stock de­posit and demon­strated the sys­tem con­tin­ues and re­mains open;

• The com­pany has com­pleted ap­prox­i­mately 90 per cent of the 2017 drill pro­gram or 43 holes and has three holes that re­main to be drilled. The pro­gram is ex­pected to be com­pleted in the com­ing weeks and as­says will be re­leased as t hey be come avail­able.

(See GFG Ta­ble 1 on page 8)

Brian Skan­der­beg, pres­i­dent and chief ex­ec­u­tive of­fi­cer, said: “Stepout drilling in the brown­field en­vi­ron­ment con­tin­ues to ex­pand gold min­er­al­iza­tion and out­line the scale of the de­posits. We have now demon­strated that the North Stock de­posit has a strike length of ap­prox­i­mately 750 me­tres and re­mains open to the west and south­west. Drilling in the mid­dle ground be­tween North Stock and An­te­lope basin con­tin­ues to re­turn eco­nomic in­ter­cepts which high­light the po­ten­tial to link the two de­posits and out­line a sys­tem that is ap­prox­i­mately 1.1 kilo­me­tres in length. Based on the ex­plo­ration suc­cess in the brown­field ar­eas, we have re­al­lo­cated some green­field drilling me­tres to fo­cus on the mid­dle ground and along the east­ern flank of An­te­lope basin. Drill suc­cess in these ar­eas would ma­te­ri­ally im­pact our ge­o­log­i­cal model and pos­i­tively im­pact the maiden re­source es­ti­mate in first half 2018. Our 2017 drilling pro­gram is nearly com­plete and with ap­prox­i­mately 50 per cent of the as­says pend­ing, we re­main con­fi­dent that we will con­tinue to see ex­pan­sion in the brown­field tar­get ar­eas and ex­pect to pro­vide fur­ther re­sults in the near fu­ture.”

We seek Safe Har­bor.

Karen Bax­ter con­densed this news re­lease (karenb@stock­watch.com).

Jonathan Charles Ti­mothy Awde, Stephen Ed­ward de Jong, Pa­trick Ger­ard Downey, Brian Neville Skan­der­beg

(GFG) Shares: 43,843,483

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