Significant Gold Discovery Announced by GFG Resources at Aljo Project
Exciting Developments at GFG Resources’ Aljo Gold Project
Key Highlights:
- ALJ-24-019 intersected multiple high-grade intervals relating to the Hangingwall, Main, and newly expanded Footwall Zones.
- Drilling at Aljo will resume soon with an aggressive program targeting depth and strike extensions.
- The discovery of new zones of mineralization with visible gold marks a significant step forward for the project.
- Pending results from additional drill holes are eagerly anticipated.
GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) has made impressive strides at its wholly owned Aljo Mine Target. Recently, the company reported promising assay results that signal potential for expanding gold production in the Timmins Gold District. With its strategic position within this well-known mining locale, the Aljo project is surrounded by vital infrastructure and established mining operations.
Recent Assay Findings
The latest results stem from a comprehensive drill program that involved 12 holes over a span of 2,600 meters. This drilling initiative was focused on assessing both downdip and lateral extensions of the historically productive Aljo Mine, in addition to exploring promising step-out holes targeting the western extensions and a North West area.
Among the noteworthy results, ALJ-24-019 revealed near-surface mineralization with several impressive grades, such as:
- 4.39 grams of gold per tonne over 3.4 meters
- 7.76 grams of gold per tonne over 1.5 meters
- 5.24 grams of gold per tonne over 1.0 meter
Additionally, a new Footwall Zone, termed FW3, was identified, characterized by strongly-altered basalt associated with porphyry dyking. This zone recorded assays of up to 7.26 grams per tonne over 0.6 meters, showcasing the project’s high-grade potential.
Continued Growth and Future Plans
Following the results of holes ALJ-24-021 and ALJ-24-022, which also confirmed high-grade near-surface extensions to the Main Zone, GFG Resources intends to aggressively pursue further exploration. The drilling plans slated for the upcoming months aim to delve deeper into the existing mineralization and discover new zones. This upcoming program includes about 3,000 meters of drilling, indicating the company's commitment to uncovering the full potential of the Aljo project.
President and CEO Brian Skanderbeg expressed his satisfaction regarding the recent discoveries, highlighting how the continuity of the high-grade extensions not only demonstrates the potential for future gold zones but also emphasizes GFG’s strategic approach to exploration.
ALJ-24-021 and ALJ-24-022 Highlights
Both drill holes intersected notable high-grade mineralization. For instance, ALJ-24-021 reported:
- Peak intercept of 4.24 grams of gold per tonne over 3.0 meters, including remarkable values of 12.00 grams per tonne.
Moreover, results from ALJ-24-022 reinforced the promising nature of the Aljo project, yielding:
- 4.38 grams of gold per tonne over 1.3 meters.
The high-grade results from both holes have generated substantial interest, offering confidence in GFG’s ability to enhance its gold resources.
Update on Muskego Target
In addition to developments at Aljo, GFG is also actively exploring the Muskego target area. As part of its inaugural drill program, the company conducted tests across several greenfield targets, accumulating over 2,685 meters of drilling across five targets. While assay results are still pending, this effort represents an essential step towards unlocking additional value outside the Aljo project.
Furthermore, GFG’s sonic drill programs have aimed to collect vital till and bedrock samples, which will inform future exploration targets within this promising area.
Corporate Overview
GFG Resources Inc. is a North American exploration company dedicated to the pursuit of gold in tier-one mining districts. The company operates three significant projects in the Timmins Gold District, a region with a stellar history of gold production exceeding 70 million ounces. Each project features geological settings well-known for their rich mineralization and substantial growth potential.
For any further inquiries, please contact:
Brian Skanderbeg, President & CEO
or
Marc Lepage, Vice President, Business Development
Phone: (306) 931-0930
Email: info@gfgresources.com
Website: www.gfgresources.com
Frequently Asked Questions
What is the Aljo Gold Project?
The Aljo Gold Project is a wholly owned mining target of GFG Resources located in the Timmins Gold District and focuses on exploring high-grade gold mineralization.
What are the recent assay results from Aljo?
Recent assays have shown up to 4.39 grams of gold per tonne from drilling, indicating the presence of high-grade near-surface mineralization.
What does GFG Resources plan to do next?
GFG Resources plans to continue drilling at the Aljo project with an aggressive program aimed at expanding already discovered zones and possibly finding new mineralized areas.
What other projects is GFG pursuing?
In addition to Aljo, GFG is also exploring the Muskego target area, where they have initiated an extensive drill program across several new exploration zones.
How can I get more information about GFG Resources?
For more information, you can visit GFG's official website or contact their investor relations department via email or phone.
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