From GlobeNewswire: 2025-06-02 06:23:00

GFG Resources Inc. announces results from its Phase 1 2025 greenfield drill program at the Pen Gold Project, with significant gold and base metal mineralization intersected at the Alpha and Chabot targets. The company has increased its exploration budget to C$4.4M to focus on high-priority targets and plans to resume drilling at Aljo in July 2025.

At the Muskego North Shear Zone, GFG drilled five holes confirming shear-hosted gold mineralization with up to 1.00 g/t Au over 1.0 m and anomalous base metal results. Multiple zones of mineralization were also observed at the Foxtrot, Bravo, Charlie, and Delta targets, with additional drill results pending release.

The drilling program at Pen Gold Project has provided encouraging results, prompting GFG to increase exploration efforts and budget. Significant near-surface gold mineralization was encountered at the Chabot Target, indicating a previously unrecognized style of gold mineralization outside the typical iron-formation host. The company aims to continue exploration and unlock further value across its portfolio.

GFG plans to expand its exploration program for the remainder of 2025, with a focus on the Aljo target where drilling will resume in July to target known mineralized zones and new exploration targets. The company aims to advance several new targets to the drilling stage within the next 6 to 12 months, including follow-up drilling at the Chabot Target and prospecting efforts at the Dore Property.



Read more at GlobeNewswire: GFG Announces Encouraging Phase 1 Drill Results from Pen