- GFG Resources (TSXV:GFG) reported drill results from the 2022 Phase 1 drill program at its Montclerg Gold Project
- The company completed the 2022 Phase 1 program in April and consisted of 4,200 meters and 17 drill holes testing multiple targets along the Montclerg gold system
- To date, the company has announced assay results from 12 holes
- GFG Resources said it expects to announce the remaining five holes in the coming weeks
- Shares of GFG Resources are steady at C$0.11 as of 2:21 p.m. EDT
GFG Resources (GFG) has reported drill results from the 2022 Phase 1 drill program at its Montclerg Gold Project in Ontario.
The project is located 48 kilometers east of the prolific Timmins Gold District, which has produced over 70 million ounces of gold.
The company said the 2022 Phase 1 drill program consisted of 4,200 meters and 17 drill holes testing multiple targets along the Montclerg gold system.
According to GFG Resources, the results from the MC Central and step-out drilling to the east confirm the continuity and character of the gold mineralization at Montclerg.
To date, assay results from 12 holes have been announced, while GFG Said it expects to announce the remaining five holes in the coming weeks.
“The results from our most recent drill program continue to highlight the potential to signicantly expand the Montclerg gold system”, Brian Skanderbeg, president and CEO of GFG, said in a press release. “The fact that we continue to drill both bulk tonnage and high-grade mineralization gives us condence that the Montclerg gold system is robust. And
with the many underutilized mills nearby, the opportunity to create value for our shareholders increases with every drill hole. We are excited to resume drilling in the third quarter and condent that we can continue to grow the Montclerg gold system as it remains open and underexplored along strike and at depth.”
With the second half of the year underway, the company said it plans to drill an additional 4,000 to 6,000 meters at Montclerg during the H2 2022 in addition to a significant regional exploration program focused on the Montclerg and Goldarm properties.
Shares of GFG Resources are steady at C$0.011 as of 2:21 p.m. EDT.