GFG Resources Inc. (GFG:TSX.V; GFGSF:OTCQB) announced in a news release it identified through sampling a new high-grade gold target, the R66 Prospect, at its Pen gold project located to the west of Timmins in Ontario.
The Saskatchewan-based explorer discovered the R66 Prospect through its recent prospecting program. Sampling returned gold grades as high as 65.9 grams per ton (65.9 g/t) and including 52.10, 28.6 and 7.57 g/t. In the area, minimal historical surface exploration or drilling has been done. R66 is 2.3 kilometers southeast of the Slate Rock Prospect, the area where GFG has been drilling.
"The R66 Prospect results are the highest-grade surface samples to have been recorded on the western portion of the property and demonstrate the opportunity to make new gold discoveries at the project," President and CEO Brian Skanderbeg said in the release.
"The high-grade results demand further attention and we will advance this prospect to a drill ready stage in the coming months with an objective to drill test the target in the first quarter of 2021," Skanderbeg added.
Regarding the phase 2 drill program now in progress at Pen, GFG noted it completed 15 holes over 5,200 meters of the planned 8,500 meters and expects to wrap it up by year-end. It intends to restart again in Q/21, drilling an additional 4,000–5,000-meter program that will include the newly discovered R66 Prospect.
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