geodan
2 years ago
Excellent news out, they hit 54 meters total over 1 gram gold near surface and another hole with 4 gold zones including the headline high-grade 7.5 meters at 8+grams!
GFG Expands High-Grade Gold at Montclerg with 8.34 g/t Au over 7.5 Metres East of the Prolific Timmins Gold District 03/22/2022
Additional high-grade and bulk tonnage gold intercepts from four new assay results from the inaugural 2021 drill program at the Montclerg Gold Project
Hole MTC-21-006 returned 8.34 grams of gold per tonne (g/t Au) over 7.5 metres (m), 40 m east of hole MTC-21-005 that graded 4.82 g/t Au over 26.0 m
MTC-21-007 intercepted multiple bulk-tonnage zones above 125 m depth that graded 1.40 g/t Au over 31.1 m and 1.11 g/t Au over 23.0 m. Assay results from the remaining five holes are pending and expect to be received in the coming weeks
Drilling resumed in March at the Montclerg Gold Project with a 5,000 m Phase 1 drill program
SASKATOON, Saskatchewan, March 22, 2022 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) reports new assay results from four drill holes that have intersected multiple zones of significant gold mineralization at the Montclerg Gold Project (the “Project” and/or “Montclerg”), located 48 kilometres (“km”) east of the prolific Timmins Gold District in Ontario, Canada (See Figure 1). In 2022, GFG plans to drill approximately 10,000 m at Montclerg in parallel with a significant regional exploration program at its Goldarm and Pen gold properties.
Today’s results are from the inaugural drill program which was completed in the fourth quarter of 2021. To date, the Company has released assay results from nine of the 14 holes that have successfully returned both high-grade and bulk tonnage intercepts from the MC Central target (See Table 1 and Figures 2-5). The remaining five holes include additional testing of targets at MC Central and initial tests at MC East. The Company expects to report assay results from the remaining 2021 drill holes in the coming weeks.
Brian Skanderbeg, President and CEO of GFG, stated, “Our early drilling success at Montclerg is demonstrating the continuity of the system with both high-grade and bulk tonnage components. These recent results are expanding our understanding of the system and its structural controls; the intensity of the alteration, veining and sulphidation that we are seeing is consistent with a large-scale gold system. With our Phase 1 2022 drill program well underway, further assays pending from 2021 and encouraging metallurgical results from our partnership at Rattlesnake Hills, we are off to great start and look forward to an exciting 2022.”
Rest and fig links here: https://s21.q4cdn.com/712049373/files/doc_news/GFG-Expands-High-Grade-Gold-at-Montclerg-with-8.34-gt-Au-over-7.5-Metres-East-of-the-Prolific-Timmins-Gold-District-2022.pdf
geodan
2 years ago
Bill says they were amazed at how high the gold recovery was on solid cores. Q+A now https://attendee.gotowebinar.com/register/8133997228348689164
Add on: Had heard via 2nd party that GFG said they expected zero recovery on at least one core, they picked it as worst case, Yet they got 18% of the gold out anyway. Bill said he can not understand being how impermeable that core was how any gold was pulled out of it, yet 18% came out. This is amazing good news.
The bad news is they will not be in production in the next year, but maybe in 2 years,
My best guess at this time is it will work. This will be one of the biggest revolutions in gold mining. As they put it it is so cheap to do that a mine that would get 97% gold recovery yet lose money, could with this get 40-50% recovery and be very profitable, the same mine. GFG owns 9% roughly of G11. And they may get $125+ million dollars of profits off of this first use of Choridate In-Situ gold mining at Rattlesnake deposit.
Recording will come out of this webinar
geodan
2 years ago
My interpretation of GFG/G11 In-situ results at Rattlesnake. Superb news, and comes it at roughly the highest level of recoveries was hoping for. In my article https://seekingalpha.com/instablog/535947-darp-research/5611282-gfgs-game-changing-in-situ-gold-mining-deal-tiny-downside-and-huge-upside#comments said:
"If the AISC at Rattlesnake is $500 that would be $1,300 margin times GFG share 66,667oz = potential profits of $87 million. Current GFG market cap is $13 million so that is a 6 bagger just in cash in the bank if things went that well. And GFG gets $7.5 million cash payment from Group 11 outside of mine revenue too in the deal, then add it they get a large amount of stock in Group 11. And if gold is $2,400 and they do not have to rubblize the ore and get 50% recovery so have a $200 AISC then 100,000 oz times $2,200 = $220 million potential profits for GFGSF. I will be thrilled with the $87 million, but the 2nd scenario is possible."
Their non-crushed whole half cores came in at 48.2% gold recovery, closer to the 2nd scenario, beyond the "thrilled with" 1st one. If half way that is about $150 million in profits, to be conservative can call it $120 million of profits with virtually no investment by GFG, G11 does that. This news is 4 months late in coming so shocks me it is so good, was guessing they were having troubles, but ended up as superb results.
There is more. If you look at charts in the PR link https://www.globenewswire.com/NewsRoom/AttachmentNg/a1009505-e0b3-4e64-a969-f4aca467896d They are getting 30% of the gold in 5 days. In-situ recovery at the mine even if you triple that to 15 days, yikes, who has ever heard of getting 30% of your gold out of a mine in 15 days after you tunnel to the ore? Maybe 5 years is average on that, In fact at Rattlesnake being that open pit is the alternative and say a 15 year mining period, that is 5 years to get 30%.
So they will get their first 30% of profits incredibly fast, about 125 times faster than an open pit mine, wow. And you get 99% of the gold you will get in 30 days in the lab, so maybe 100 days in the field? Absurdly fast. If takes even a year, still absurdly fast.
Being their new land package in Canada now has a proven high grade gold system, that makes it worth the entire market cap of GFG. So Rattlesnake/In-Situ is on top of that. The stock doing a 20 bagger+ since my article was published seems quite possible.
Cheers
GFG Receives Positive Initial Metallurgical Results from Rattlesnake Hills Gold Project Partner Group 11 Technologies 03/15/2022
SASKATOON, Saskatchewan, March 15, 2022 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSXV: GFG) (OTCQB: GFGSF) (“GFG” or the “Company”) is pleased to report that it has received positive metallurgical results from the Rattlesnake Hills Gold Project (“RSH Project”) located in Wyoming, U.S. from its option partner, Group 11 Technologies Inc. (“Group 11”), (see news release: “GFG Signs Option Agreement with Group 11 Technologies to Advance the Rattlesnake Hills Gold Project with Disruptive Technology”). Provided below are the first test results in the process to develop In-situ Recovery (“ISR”) technology for gold mining using EnviroMetal Technologies Inc. (“EnviroMetal”) non-cyanide and environmentally friendly leaching solution. The gold recovery tests from uncrushed half-core samples demonstrated recoveries ranging from 15.9% to 77.5%, averaging 48.2% while the bottle roll testing of crushed material returned gold recoveries ranging from 38.3% to 89.5%, averaging 61.4%.
“These initial results have exceeded our and Group 11’s expectations and this is an exciting development for our shareholders, stakeholders and the gold mining industry as a whole,” stated Brian Skanderbeg, President and CEO of GFG. “We look forward to the next phase of testing as they continue along the path of proving and adapting ISR technology to gold mining.”
Dr. Dennis Stover, Group 11 and enCore Energy Corps’ Chief Technical Officer and co-discoverer of the in-situ recovery process in the uranium sector, said: “Group 11 is very pleased with the initial tests which showed strong results to extract gold from the existing core samples with an environmentally-friendly solvent. This first step will provide the basis for future tests to be conducted on the use of the lixiviant in combination with ISR technology. Group 11 is working to create new environmentally-friendly options to extract gold and other metals through less invasive ISR extraction which is in widespread use in the uranium sector.”
LIVE WEBCAST – MARCH 17, 2022 11 AM ET
Group 11 and their partners will host a webcast on Thursday, March 17 at 11:00 am Eastern Time (8:00 am Pacific Time) to discuss the results of the Phase 1 tests, next steps and to answer any questions from shareholders. Shareholders, analysts, investors, and media are invited to join the live webcast by registering using the link below. A replay of the webcast will be available. Please join us: https://attendee.gotowebinar.com/register/8133997228348689164
Below has rest and tables of recoveries
https://www.gfgresources.com/news/press-release-details/2022/GFG-Receives-Positive-Initial-Metallurgical-Results-from-Rattlesnake-Hills-Gold-Project-Partner-Group-11-Technologies/default.aspx
geodan
2 years ago
Big news this is just a snip, link has rest. So now GFG has with this and prior single drill hole proved a major gold system at Montclerg. This alone justifies all of GFG's market cap as of yesterday. The Rattlesnake, Pen and Dore projects are all for free IMHO. Quite the deal, especially with the 100s of thousands of oz of gold at Rattlesnake that can likely be mined very low AISC in-situ. We will get Rattlesnake test results this month said Brian on 6ix conf call.
SASKATOON, Saskatchewan, Feb. 10, 2022 (GLOBE NEWSWIRE) -- GFG Resources Inc.(GFGSF)(“GFG” or the “Company”) reports new assay results from three drill holes that have intersected multiple zones of significant gold mineralization at the Montclerg Gold Project (the “Project” and/or “Montclerg”), located 48 kilometres (“km”) east of the prolific Timmins Gold District in Ontario, Canada (See Figure 1).
During the fourth quarter of 2021, the Company drilled a total of 3,210 metres (“m”) from 14 holes in its inaugural Phase 1 drill program. To date, the Company has received drill assay results from five holes and have successfully returned both high-grade and bulk tonnage intercepts from the MC Central target (see Table 1 and Figures 2-6) with highlights including:
Hole MTC-21-005:
Upper Footwall zone: 4.82 grams of gold per tonne (“g/t” Au) over 26.0 m including 12.32 g/t Au over 5.5 m; and
Upper Footwall zone: 11.29 g/t Au over 1.7 m
Hole MTC-21-004:
Upper Main zone: 0.73 g/t Au over 24.2 m; and
Lower Main zone: 1.24 g/t Au over 10.4 m including 2.37 g/t Au over 4.1 m
Lower Footwall zone: 1.23 g/t Au over 15.5 m including 3.09 g/t Au over 3.3 m
Brian Skanderbeg, President and CEO commented, “These great results confirm our belief in the potential for both high-grade and bulk tonnage gold mineralization at Montclerg. We are very encouraged by the stacked nature of the system, impressive widths and the relationship to historic drill holes that extend over a strike length of more than 1.3 km. The intensity of the alteration, veining and sulphidation that we are seeing are consistent with a multi-stage, large-scale gold system. Hole MTC-21-005 is the best hole ever drilled on the Project and may be amongst the best greenfield intercepts from the Timmins region over the past decade. As we await the remaining assays, drilling at Montclerg will resume in the coming weeks.”
https://www.gfgresources.com/news/press-release-details/2022/GFG-Drills-4.82-gt-Gold-over-26.0-Metres-and-Continues-to-Intercept-Multiple-Gold-Zones-at-the-Montclerg-Gold-Project/default.aspx
cloggerwanabe
2 years ago
ject and Provides Corporate Update
January 24, 2022
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GFG Intercepts Multiple Gold Zones in First Hole at the Montclerg Gold Project and Provides Corporate Update
SASKATOON, Saskatchewan, Jan. 24, 2022 (GLOBE NEWSWIRE) -- GFG Resources Inc. (TSX-V: GFG) (OTCQB: GFGSF) ("GFG" or the "Company") announces that it has received assays from the first hole from its 2021 Phase 1 drill program at the Montclerg Gold Project (the "Project" and/or "Montclerg") (See news release: "GFG Provides Exploration Update and Launches 3,000 Metre Drill Program at Montclerg Gold Project, East of Timmins"). The hole returned both high grade and bulk tonnage intercepts from the MC Central Panel at Montclerg (See Table 1 and Figures 2-3). In 2022, the Company is planning to drill approximately 10,000 metres ("m") at Montclerg with a first phase of 3-4,000 m of drilling to start in February.
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