The Prospector News

GFG Hits Multiple Veins with Visible Gold at Aljo and a New Footwall Zone Grading 13.35 g/t Gold over 3.6 Metres, East of Timmins, ON

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

GFG Hits Multiple Veins with Visible Gold at Aljo and a New Footwall Zone Grading 13.35 g/t Gold over 3.6 Metres, East of Timmins, ON

 

 

 

 

 

KEY HIGHLIGHTS:

  • Hole ALJ-23-004 returned broad zones of anomalous gold from surface to approximately 265 m downhole in mafic volcanics below the Aljo Mine workings along with high-grade zones with visible gold including:
    • 3.65 grams of gold per tonne over 6.3 metres including 18.40 g/t Au over 1.1 m from 125.7 m downhole; and
    • 13.35 grams g/t Au over 3.6 m, including 32.94 g/t Au over 1.4 m from 350.5 m downhole.
  • A new footwall zone was intersected near the bottom of hole ALJ-23-004 (13.35 g/t Au over 3.6 m, including 32.94 g/t Au over 1.4 m), demonstrating that there is much more to the Aljo Mine system than historical data has indicated.
  • Hole ALJ-23-011, a 200 m step-out from the Aljo Mine, returned multiple intervals of bulk tonnage gold mineralization in mafic volcanics with visible gold including 1.39 g/t Au over 19.0 m and 1.86 g/t Au over 17.5 m including 4.98 g/t Au over 3.6 m.
  • Drilling is planned to resume in Q1 with a focus on following up on the step-out hole MTC-23-059 of 12.8 m of 4.79 g/t Au (see press release HERE), the deepest hole drilled to date at Montclerg and at the Aljo Mine target area.

 

GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) reports the final gold assay results from the recently completed 2023 Phase 2 drill program at its Goldarm Project, located 40 kilometres east of Timmins, Ontario (see Tables 1-2 and Figures 1-3). The results released today are from the Aljo Mine Target located 30 kilometres east of the Montclerg Gold Project. This is the second drill program completed on the Aljo target and additional drilling is warranted based on the strong results and nature of the gold system.

 

In the Phase 2 drill program, the Company completed a total of 3,613 m from 15 holes (7 at Montclerg and 8 at Aljo). The program focused on step-out and in-fill drilling at Montclerg and tested a spectrum of targets at Aljo located within the Goldarm Property east of Timmins, Ontario.

 

“Our 2023 drilling programs have yielded meaningful results, contributing to a year of substantial progress for GFG,” said Brian Skanderbeg, President and CEO of GFG. “We have successfully infilled and expanded the Montclerg gold system and have exceeded our initial expectations at Aljo, where we’ve discovered high-grade mineralization and a more extensive gold system than what was previously understood from historical data.

 

As we move into 2024, we remain dedicated to the expansion of Montclerg and Aljo. We are determined to build upon the discoveries made this year. Alongside our drilling efforts, we are methodically developing a robust pipeline of drill targets across our portfolio of Timmins properties, which spans over 800 square kilometres. The potential for uncovering new gold systems within these properties is substantial, given the considerable areas that have yet to be thoroughly explored.

 

The year ahead is set to be one of strategic exploration and drilling, with a focus on both advancing our current projects and the exciting possibility of new discoveries. With our strategic planning, a team committed to meticulous exploration, and an understanding of the geological potential of our properties, we are well-positioned to sustain our momentum and deliver shareholder value.”

 

Table 1: 2023 Aljo Mine Target Assay Results from the Phase 2 Drill Program

 

Hole ID From (m) To (m) Length (m) Au (g/t) Zone VG
ALJ-23-004 6.5 20.8 14.3 0.95 Aljo Mine  
and 34.0 42.9 8.9 1.14    
incl. 34.0 35.5 1.5 3.44    
and 45.7 54.9 9.2 0.94    
and 58.2 67.0 8.8 0.67    
and 89.7 97.8 8.1 0.68    
and 125.7 132.0 6.3 3.65    
incl. 130.9 132.0 1.1 18.4    
and 142.0 143.2 1.2 7.17    
incl. 142.7 143.2 0.5 16.2    
and 157.2 159.1 1.9 4.42   VG
and 262.7 264.7 1.9 4.29    
incl. 264.2 264.7 0.5 14.8    
and 350.5 354.0 3.6 13.35    
incl. 350.5 351.9 1.4 32.94    
ALJ-23-005 173.9 188.0 14.1 0.36 Aljo  
ALJ-23-009 59.7 60.2 0.5 20.3 Aljo North Shaft  
ALJ-23-011 4.5 15.6 11.1 0.57 Aljo  
and 19.7 37.2 17.5 0.33    
and 59.6 78.6 19.0 1.39    
incl. 59.6 60.4 0.8 9.11    
and 86.2 103.7 17.5 1.86    
incl. 88.4 92.0 3.6 4.98   VG
also incl. 95.8 97.5 1.7 4.43    

 

*Drill intercepts are presented using a 0.20 g/t Au cut-off and as drilled length with a minimum 5 gram-metre product. Composites include internal dilution of up to 3 m at grades less than 0.2 g/t Au. Included intervals are calculated using a 3 g/t cut-off at a minimum 5 gram-metre product unless otherwise stated. True width is estimated to be 30 to 90% of drilled length.

 

Commentary on Assay Results (See Figures 1-3)

 

Anders Carlson, Vice President, Exploration of GFG commented, “The high-grade zone intersected in the footwall of the Aljo Mine workings in hole ALJ-23-004 represents an exciting new target along the Kingswood Shear zone that has not been targeted by previous drilling. Understanding the association of high-grade gold mineralization to regionally extensive quartz-feldspar porphyry dykes will be an important step for our team as we continue to explore the highly prospective Aljo Mine area.”

 

ALJ-23-004 was drilled to test the extent of gold mineralization directly below historical underground workings of the Aljo Mine. The hole returned anomalous gold values from surface to approximately 265 m downhole in mafic volcanics with high-grade vein intervals. These higher-grade zones, yielding up to 3.65 g/t Au over 6.3 m, with multiple occurrences of visible gold including 18.40 g/t Au over 1.1 m, occur in close-proximity and internal to quartz-feldspar porphyry dykes. Alteration within the Aljo Mine sequence is characterized by moderate to strongly pervasive sericite, ankerite, silica and chlorite alteration that is overprinted by a quartz-carbonate stockwork array. Sulphide mineralization within the Aljo Mine is generally low and rarely exceeds 7% pyrite and pyrrhotite with lesser chalcopyrite and arsenopyrite.

 

The footwall of the Aljo Mine is less altered yet is more abundant in sulphide with up to 25% blebby and patchy disseminated pyrite within the host mafic volcanics. Near the base of the hole a gabbroic unit was intersected and hosts a quartz-carbonate vein that returned the hole’s best result of 13.35 g/t Au over 3.6 m including 32.94 g/t Au over 1.4 m. This is the first hole that GFG has drilled below the ljo Mine workings and demonstrates there is more to the system than historical records show. Additional testing will be prioritized as hole ALJ-23-004 ended in high-grade gold mineralization.

 

ALJ-23-005 was drilled to test the down-dip extension of high-grade mineralization intersected in ALJ-22-002 that yielded 3.03 g/t Au over 12.9 m. The hole intersected several mineralized intervals south of the Aljo Mine workings including 0.36 g/t Au over 14.1 m associated with up to 15% blebby pyrite in mafic volcanics.

 

ALJ-23-009 was drilled to test a historic trench in close proximity to the north Aljo Mine shaft. The hole intersected a narrow zone of quartz-carbonate veining yielding 20.30 g/t Au over 0.5 m with up to 5% blebby and disseminated pyrite and pyrrhotite in mafic volcanics. The zone lies within a metre of the mafic-ultramafic contact and speaks to the local high-grade nature of this north Aljo zone.

 

ALJ-23-011 was designed to confirm historical high-grade intercepts approximately 200 m northwest of the Aljo Mine workings. The hole returned multiple intervals of gold mineralization in mafic volcanics including 1.39 g/t Au over 19.0 m and 1.86 g/t Au over 17.5 m including 4.98 g/t Au over 3.6 m with visible gold. Quartz-feldspar porphyry dykes were also intersected in the hole and occur in close association with gold mineralization. Alteration in the hole was generally weak to moderate consisting mainly of patchy sericite, carbonate, silica, chlorite and biotite that is overprinted by a similar quartz-carbonate fracture array observed in ALJ-23-011 within the Aljo Mine sequence. The presence of high-grade gold in association with porphyry dykes outside of the immediate Aljo Mine area speaks to the exploration potential of the region.

 

Drillholes ALJ-23-006, 007, 008 and 010 returned anomalous grades of up to 2.27 g/t Au over 1.2 m. These holes were targeting a surface trench several hundred metres long straddling a major mafic-ultramafic contact that had not been tested by historical drilling. A 120 m deep shaft was sunk along this trench with grab samples from GFG yielding up to 276 g/t Au. The Company still views this corridor of mineralization as highly prospective and will test alternative structural models with further drilling.

 

Outlook

 

Looking ahead, the Company is optimistic about the progress and new opportunities unfolding at the Goldarm Property. Drilling is scheduled to recommence later in the first quarter, with attention focused on the Montclerg and Aljo projects, along with initial assessments of several new targets. The Company plans to carry out between 5,000 to 7,000 meters of drilling over several stages.

 

At the Doré Property, the Company is planning an aggressive summer field campaign to follow-up on new orogenic gold and VMS targets that have been generated out of the recent regional till survey completed in Q4-2023. The goal is to advance the best targets to drill-ready status by Q4-2024 for first-pass drill testing.

 

The Company’s technical team is also active in applying fresh targeting concepts at its 475 km2 Pen property west of Timmins where GFG spent more than 3 years building a very robust and target-rich dataset from 2018 to 2020. The Company will be conducting further exploration and target refinement in these areas over the coming summer.

 

At the Company’s wholly owned Rattlesnake Hills Gold Project in Wyoming, U.S., GFG is in active discussions with potential partners to determine the best path forward. In the meantime, GFG will maintain the project in good standing.

 

Figure 1: Regional Map of GFG Gold Projects in the Timmins Gold District

 

 

Figure 2: Goldarm Property Plan View Map

 

 

Figure 3: Aljo Mine Target Plan View Map

 

 

Table 2: GFG Drill Hole Assay Highlights from the Goldarm Property

 

Hole ID From (m) To (m) Length (m) Au (g/t) Zone
MTC-21-001 62.5 90.0 27.5 1.56 Upper Main
and 126.0 166.5 40.5 0.78 Lower Main
incl. 130.8 138.0 7.3 2.20  
MTC-21-004 39.8 64.0 24.2 0.73 Upper Main
and 75.7 86.1 10.4 1.24 Lower Main
incl. 81.0 85.1 4.1 2.37  
and 230.5 246.0 15.5 1.23 Lower Footwall
incl. 241.7 245.0 3.3 3.09  
MTC-21-005 86.0 112.0 26.0 4.82 Upper Footwall
incl. 94.3 96.1 1.8 15.96  
and 103.8 109.3 5.5 12.32  
and 118.9 120.6 1.7 11.29  
MTC-21-006 98.3 105.8 7.5 8.34 Upper Footwall
incl. 98.3 101.0 2.7 15.04  
MTC-21-007 65.4 95.6 31.1 1.40 Upper Main
and 108.0 131.0 23.0 1.11 Lower Main
MTC-21-009 45.0 60.0 15.0 1.23 Upper Main
MTC-21-010 79.5 106.5 27.0 1.05 Upper Main
incl. 89.6 100.5 10.9 1.84  
MTC-22-015 24.0 57.5 33.5 1.32 MC West
incl. 24.0 28.7 4.7 5.15  
MTC-22-018 52.0 57.9 5.9 3.51 MC West
incl. 53.9 56.0 2.1 7.93  
MTC-22-019 112.6 118.1 5.5 4.38 Upper Footwall
incl. 112.6 116.0 3.4 6.37  
MTC-22-020 22.4 34.1 11.7 1.07 Upper Main
and 97.0 105.3 8.3 4.95 Upper Footwall
incl. 102.8 105.3 2.5 12.83  
MTC-22-021 50.3 72.0 21.7 1.51 Upper Main
incl. 62.2 64.0 1.8 8.17  
MTC-22-023 17.6 88.0 70.4 1.60 Upper Main
incl. 35.2 42.0 6.8 2.43  
incl. 76.2 81.0 4.8 4.97  
and 124.5 133.2 8.7 2.46 Upper Footwall
incl. 131.4 133.2 1.8 7.75  
MTC-22-029 104.4 111.5 7.1 4.98 Upper Footwall
incl. 104.4 107.6 3.2 7.02  
incl. 110.4 111.5 1.1 7.79  
MTC-22-030 71.0 86.0 15.0 3.40 Upper Footwall
incl. 71.0 74.0 3.0 6.21  
also incl. 81.9 82.9 1.0 17.50  
MTC-22-031 285.2 292.6 7.4 2.78 Lower Footwall
incl. 290.3 292.6 2.3 7.83  
and 300.4 302.0 1.6 4.59 Lower Footwall
MTC-22-034 79.5 94.6 14.5 1.37 Lower Main
incl. 85.2 86.8 1.6 3.97  
and 161.7 171.0 9.3 5.26 Upper Footwall
incl. 163.9 168.3 4.4 10.77  
MTC-22-035 72.0 85.2 13.2 2.31 Lower Main
incl. 77.0 82.1 5.1 4.07  
and 125.3 141.3 16.0 9.85 Upper Footwall
incl. 130.3 137.8 7.5 14.99  
MTC-22-036 79.0 85.0 6.0 9.63 Upper Footwall
incl. 80.5 84.0 3.5 15.40  
MTC-22-039 79.8 83.3 3.3 4.32 Upper Footwall
incl. 80.7 83.3 2.6 5.74  
and 88.0 98.3 10.3 3.95  
MTC-22-041 76.2 81.0 4.8 4.89 Upper Footwall
incl. 81.0 80.1 1.1 14.40  
MTC-22-042 96.4 119.0 22.6 1.48 Lower Main
and 307.3 312.3 5.0 8.46 Lower Footwall
incl. 309.3 312.3 2.0 16.40  
ALJ-22-002 62.1 75.0 12.9 3.03  
incl. 67.5 68.1 0.6 59.80  
and 79.0 93.9 14.9 1.32  
incl. 85.3 86.2 0.9 10.90  
and 101.0 105.3 4.3 6.58  
incl. 103.2 104.2 1.0 27.40  
MTC-23-048 88.0 92.1 4.1 4.10 Upper Footwall
incl. 89.8 92.1 2.3 6.30  
MTC-23-054 73.1 81.2 8.1 9.97 Upper Footwall
incl. 75.9 78.9 3.0 16.95  
MTC-23-057 254.5 256.8 2.3 2.25  
and 346.0 348.7 2.7 10.21 Lower Footwall
incl. 346.0 347.5 1.5 16.20  
and 375.5 376.7 1.2 2.42 Lower Footwall
incl. 375.5 376.2 0.7 3.84  
MTC-23-059 424.2 437.0 12.8 4.79 Lower Footwall
incl. 428.0 432.3 4.3 10.05  
MTC-23-060 63.1 88.0 24.9 1.05 Upper Main
and 95.7 137.5 41.8 0.92 Lower Main
MTC-23-062 72.4 85.2 12.8 3.09 Upper Main
incl. 74.0 76.9 2.9 9.76  
ALJ-23-004 6.5 20.8 14.3 0.95 Aljo Mine
and 125.7 132.0 6.3 3.65  
and 130.9 132.0 1.1 18.4  
and 350.5 354.0 3.6 13.35  
incl. 350.5 351.9 1.4 32.94  
ALJ-23-011 4.5 15.6 11.1 0.57 Aljo
and 59.6 78.6 19.0 1.39  
incl. 59.6 60.4 0.8 9.11  
and 86.2 103.7 17.5 1.86  
incl. 88.4 92.0 3.6 4.98  

 

*Drill intercepts are presented using a 0.20 g/t Au cut-off and as drilled length with a minimum 0.5 gram-metre product. Composites include internal dilution of up to 3 m at grades less than 0.2 g/t Au. Included intervals are calculated using a 3 g/t cut-off at a minimum 5 gram-metre product unless otherwise stated. True width is estimated to be 50 to 90% of drilled length.

 

About the Goldarm Property

The Goldarm Property is a large and highly prospective land package east of the Timmins Gold Camp (see Figures 1-2). The consolidated Goldarm Property covers approximately 30 km of the Pipestone Deformation Zone and the North Pipestone Deformation Zone. Within the Goldarm Property, there are several highly prospective gold targets such as the Aljo Gold Mine region, the Carr target, and the Montclerg Gold Project; which is the most advanced target. The Montclerg Gold Project covers 10 km of the highly prospective Pipestone Deformation Zone and is located 48 km east of the prolific Timmins Gold Camp and is adjacent to multiple current and historic gold mines (see Figure 1).

 

About GFG Resources Inc.

GFG is a North American precious metals exploration company focused on district scale gold projects in tier one mining jurisdictions, Ontario and Wyoming. In Ontario, the Company operates three gold projects, each large and highly prospective gold properties within the prolific gold district of Timmins, Ontario, Canada. The projects have similar geological settings that host most of the gold deposits found in the Timmins Gold Camp which have produced over 70 million ounces of gold. The Company also owns 100% of the Rattlesnake Hills Gold Project, a district scale gold exploration project located approximately 100 km southwest of Casper, Wyoming, U.S.

 

Posted February 15, 2024

Share this news article

MORE or "UNCATEGORIZED"


SILVER VIPER CLOSES FIRST TRANCHE OF LIFE OFFERING

Silver Viper Minerals Corp. (TSX-V: VIPR) (OTC: VIPRF) is please... READ MORE

April 13, 2024

NioCorp Announces Closing of Financing Agreement

NioCorp Developments Ltd. (Nasdaq: NB) (TSX: NB) announced that i... READ MORE

April 12, 2024

Kuya Silver Announces Closing of Second and Final Tranche of Strategic Investment by Trafigura

Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) is... READ MORE

April 12, 2024

Steppe Gold Enters Into Share Exchange Agreement to Acquire Boroo Gold and Agrees to Sell the Tres Cruces Oxide Project

Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) is pleased to ann... READ MORE

April 12, 2024

VIZSLA COPPER CLOSES NON-BROKERED PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $2.5M AND PROVIDES UPDATES

Vizsla Copper Corp. (TSX-V: VCU) (OTCQB: VCUFF) (FRANKFURT: 97E0) is pleased to... READ MORE

April 12, 2024

Copyright 2024 The Prospector News