GFG Announces Encouraging Phase 1 Drill Results from Pen Gold Project, Ontario

Core Insights - GFG Resources Inc. has reported encouraging results from its Phase 1 2025 greenfield drill program at the Pen Gold Project, indicating significant gold and base metal mineralization at multiple targets [2][3][4] Exploration Results - The Phase 1 drilling focused on several targets including the Muskego North Shear Zone (Alpha and Foxtrot), southern Muskego Shear Zone (Charlie), and the Destor-Porcupine Fault (Delta) [2][4] - Notable results include: - Alpha Target: 1.00 g/t Au over 1.0 m in hole MSK-25-004, confirming the presence of shear-hosted gold mineralization [4][7] - Chabot Target: 3.90 g/t Au over 3.5 m, including 9.62 g/t Au over 1 m near surface [7][11] - Foxtrot Target: Up to 0.3% zinc and 0.14% copper in hole MSK-25-005 [5] - Charlie Target: 0.57 g/t Au over 0.65 m in hole MSK-25-008 [9] - Delta Target: Validation of the fault's presence with potential for mineralization [10] Increased Exploration Budget - The exploration budget has been increased to approximately C$4.4 million to support an aggressive second half of the year, focusing on high-priority targets including Aljo [3][7] Future Drilling Plans - Drilling at the Aljo Gold Target is set to resume in July 2025 with a 3,000 m drill program aimed at targeting depth and strike extensions of known mineralized zones [7][15] - The company plans to conduct prospecting and mapping to further refine targets based on new data from the Q1 exploration program and a recently completed 2D IP geophysical survey [16] Company Overview - GFG Resources Inc. is focused on district-scale gold projects in tier one mining jurisdictions, operating three gold projects in the Timmins Gold District of Ontario, Canada [21]