Gfg Resources Stock Price, News & Analysis

GFG Resources Inc. has issued 1,213,592 common shares to International Explorers and Prospectors Inc. as part of an agreement for a 100% interest in the WWCC Property, located east of Timmins, Ontario. The shares were valued at C$0.1236 each, based on the volume-weighted average price over the previous five trading days. This transaction involves a statutory hold period of four months and one day. GFG is focused on precious metal exploration, particularly in Ontario and Wyoming, holding significant properties that are part of the prolific Timmins Gold District, which has yielded over 70 million ounces of gold.

GFG Resources Inc. (OTCQB: GFGSF), reports high-grade gold assays from its 2022 Phase 2 drill program at the Montclerg Gold Project in Ontario. Key highlights include:

• High-grade intervals: ALJ-22-002 returned 3.03 g/t Au over 12.9 m, including 59.80 g/t Au over 0.6 m.
• Continuous mineralization: Hole MTC-22-044 confirmed gold mineralization extending 1 km east of MC Central.
• Extensive drilling: Over 11,000 m drilled in 47 holes since acquiring Montclerg, achieving a 90% hit rate.
• Future plans: 2023 drill programs to total 10-12,000 m with a budget of C$3.0 million, focusing on the Montclerg deposit and other high-priority targets.

The ongoing exploration indicates a significant potential for discovering additional gold deposits within the Goldarm Property.

GFG Resources Inc. (GFGSF) has announced continued high-grade gold assay results from its recent drilling at the Montclerg Gold Project in Ontario. Key results include Hole MTC-22-036, which returned 6.67 grams per tonne (g/t Au) over 6.0 meters, and Hole MTC-22-042, yielding 8.46 g/t Au over 5.0 meters. Since acquiring Montclerg in October 2021, GFG has completed 11,000 meters of drilling, achieving a 90% hit rate. The company plans to resume drilling in Q1 2023, focusing on high-priority gold targets across the Goldarm Property, aiming to expand resources further.

GFG Resources Inc. announced high-grade gold assay results from its Montclerg Gold Project, emphasizing the success of its 2022 Phase 2 drill program. Key results include hole MTC-22-035, which returned 9.85 g/t Au over 16.0 m in the Upper Footwall zone. The drilling achieved a nearly 90% hit rate since the project's acquisition in late 2021. GFG plans to resume drilling in February 2023, focusing on Montclerg and high-priority targets in the Goldarm Property. With continuous positive results, the company aims to advance Montclerg toward resource estimation, benefiting from the significant mineralization observed across multiple zones.

GFG Resources has released promising results from its 2022 exploration program at the Goldarm Property in Ontario, Canada. The program involved 137 till and 1,030 rock samples, revealing high-grade gold results, notably up to 276.00 g/t Au from the Aljo Gold Mine target. Recent drilling permits have been secured, allowing for 3-4 holes to be drilled in upcoming days. The ongoing Phase 2 drill program at the Montclerg Gold Project has also completed 14 holes, with assay results expected early 2023, indicating potential for significant gold systems in the region.

GFG Resources has initiated its 2022 Phase 2 drill program at the Montclerg Gold Project in Ontario, Canada, focusing on infill and expansion drilling across its targets. The program, set to drill approximately 4,000 meters, aims to enhance understanding of the gold system’s continuity. Recent results indicate high-grade gold intercepts, such as 4.82 g/t Au over 26.0 meters from hole MTC-21-005, showcasing promising mineralization. The program also includes potential drilling at historical targets like the Aljo Gold Mine, with completion expected by December 2022 and plans to resume drilling in February 2023.

GFG Resources Inc. (OTCQB: GFGSF) has made its first anniversary payment under the option agreement to acquire a 100% interest in the Montclerg Gold Project, located near Timmins, Ontario. This payment involved issuing 5,353,721 common shares valued at C$0.0934 each, based on previous trading data. With this acquisition, GFG aims to enhance its portfolio of gold projects in Canadian mining regions. The company's focus remains on exploring properties that contribute to its growth in the precious metals sector.