GFG Resources Intersects 114.0 Metres of 0.45 g/t Gold from Step-out Drilling West of North Stock at Rattlesnake Hills Gold Project
Media Release
Release: Immediate
GFG Resources Intersects 114.0 Metres of 0.45 g/t Gold from
Step-out Drilling West of North Stock at Rattlesnake Hills
Gold Project
Highlights:
• Step-out hole RSC- 188 intersected 0.45 grams of go ld per tonne (“g/t Au”) over 114.0
metres, demonstrating gold mineralization, brecciation and alteration continue to the west
of North Stock.
• RSC-184 extended gold mineralization at Antelope Basin 200 metres to the east towards
the Cowboy target with an intercept of 0.42 g/t Au over 73.2 metres.
• Drilling between the North Stock and Antelope Basin deposits outlined several intervals of
low grade mineralization, outlining the potential to link the two deposits.
• Drill results at Blackjack intersected thick zones of gold-silver mineralization, highlighted
by hole BJR-005: 0.79 g/t Au and 36.86 grams of silver per tonne (g/t Ag) over 18.3 metres
and 0.36 g/t Au and 10.62 g/t Ag over 53.3 metres that demonstrate the system remain s
open to the west.
• The Company has completed approximately 50% of the 2017 drill program with 14 holes
pending assay results and expects to complete the program in November. Greenfield
drilling is expected to begin in October.
September 20, 2017 Saskatoon, Saskatchewan, Canada: GFG Resources Inc. (TSX-V: GFG)
(OTCQB: GFGSF) (“ GFG” or the “Company”) announces initial drill results from its 15,000
metre or 50-hole drill program at its 100% controlled, Rattlesnake Hills Gold Project in Wyoming,
United States. These initial eight drill hole results (See Table 1) are from testing brownfield targets
proximal to the North Stock, Antelope Basin and Blackjack areas (See Figures 1 and 2). The
Company is very encouraged by the initial results as all the holes intersected broad zones of gold
mineralization and demonstrate that the targeted areas remain open.
“Our objective over the last year has been to take an aggressive, district scale exploration approach
by testing beyond the borders of historic drilling and to test the district for a new discovery with
six greenfield targets. The most important factor to date, is that wherever we have drilled, we have
intersected gold mineralization with key geological markers present. The district as whole remains
prospective and we are confident that further drilling will demonstrate a much larger system,” stated
Brian Skanderbeg, President and CEO.
“Drilling was successful at extending the North Stock deposit to the west with hole RSC-188. We
continue to intercept well mineralized and strongly altered heterolithic breccias in step -out holes
testing the western extension and we believe that the system can be extended and potentially link
with our Pronghorn and MGT regional targets. We were also able to expand the mineralization at
Antelope Basin to the east towards the Cowboy target. We believe that the Cowboy target is a sub-
parallel zone to Antelope Basin and we will complete another seven holes in that area this year.
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With most of the program assays yet to be announced, we look forward to providing further results
to demonstrate the potential of the district. In October, we will begin testing our greenfield targets;
all of which are kilometer in scale and show strong similarities to the North Stock and Antelope
Basin systems.”
Table 1: Initial 2017 Drill Results from Rattlesnake Hills Gold Project.
Hole ID From (m) To (m) Au (g/t) Ag (g/t) Length (m) Cut Off (g/t)
RSC-184 54.86 59.44 0.66 0.57 4.6 0.20
82.30 155.45 0.43 1.27 73.2 0.20
includes 115.82 121.92 0.58 1.17 6.1 0.50
includes 129.54 152.40 0.72 1.95 22.9 0.50
181.36 205.74 0.32 1.49 24.4 0.20
220.98 256.03 0.39 1.50 35.1 0.20
includes 227.53 231.65 0.61 1.86 4.1 0.50
RSC-188 45.11 67.97 0.22 Assays
Pending
22.9 0.20
74.07 188.06 0.45 114.0 0.20
includes 92.35 109.12 1.15 16.8 0.50
includes 143.87 165.20 0.52 21.3 0.50
194.16 213.97 0.24 19.8 0.20
221.89 234.09 0.35 12.2 0.20
266.09 274.93 0.25 8.8 0.20
282.85 290.47 0.30 7.6 0.20
333.15 349.91 0.21 16.8 0.20
RSR-001 196.60 211.84 0.55 0.94 15.2 0.20
includes 201.17 205.74 1.21 1.57 4.6 0.50
RSR-003 117.35 124.97 0.37 2.56 7.6 0.20
RSR-006 21.34 36.58 0.29 3.06 15.2 0.20
includes 22.86 28.96 0.41 5.27 6.1 0.50
42.67 73.15 0.24 0.67 30.5 0.20
175.26 192.02 0.27 1.22 16.8 0.20
199.64 207.26 0.38 1.86 7.6 0.20
RSR-007 306.32 315.47 0.31 0.82 9.2 0.20
BJR-001 117.35 153.92 0.29 4.21 36.6 0.20
includes 128.02 138.68 0.51 5.15 10.7 0.50
163.07 175.26 0.23 3.35 12.2 0.20
187.45 196.60 0.22 7.21 9.2 0.20
BJR-005 120.40 138.68 0.79 36.86 18.3 0.20
includes 120.40 137.16 0.82 39.81 16.8 0.50
150.88 204.22 0.36 10.62 53.3 0.20
includes 169.16 184.40 0.59 16.40 15.2 0.50
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*Gold intervals reported in the above table are based on a 0.20 g/t or 0.50 g/t Au cutoff and may include
waste or low-grade intervals of up to six metres. Weighted averaging has been used to calculate all reported
intervals. True widths are estimated at 60-100% of drilled thickness.
Drill Results Commentary
RSC-184 was drilled in the flank of Antelope Basin deposit to test for sub-parallel zones east of
the historic drilling. The lithologies were primarily schist and monolithic schist breccia and the
gold mineralization was associated with moderate to strong carbonate and weak to moderate
potassic alteration. This hole is significant as there is no proximal drilling and it intersected thick
zones of mineralization, hosted in Precambrian schist, that extend nearly 200 metres east of the
quartz monzodiorite dike that hosts mineralization at Antelope Basin.
RSC-188 was drilled on the west side of the North Stock intrusion and was 70 metres from the
nearest historic drill hole (Hole RSC-149: 0.61 g/t Au over 86.9 metres). The hole intersected thick
intervals of heterolithic breccia, phonolite and monolithic schist breccia before ending in
Precambrian schist. The thick zone of gold mineralization (74.07 metres to 188.06 metres)
confirms this extension and suggests that the mineralization continues towards the west and remains
open. The alteration in this intercept included moderate potassic (adularia) flooding and moderate
to strong pyrite. In addition, the lower intercept (333.15 metres to 349.91 metres), while low er
grade, showed the contact zone between the Eocene volcanic breccia and the Precambrian schist is
mineralized. This is similar to some of the mineralization seen in the Cripple Creek Mining District
where this contact acted as a favorable conduit for fluids.
RSR-001 and RSR-003 tested the middle ground area between Antelope Basin and North Stock.
Lithologies in both holes were largely schist, but the lower portions of RSR -003 intersected
heterolithic breccias and phonolites below 240 metres where the intensity of the potassic alteration
increased. The r esults suggest mineralization continues to remain open towards the west where
additional holes have been planned and permitted. The Company will continue to drill in this area
using core holes to better test the targets and explore the linkage between the two deposits.
RSR-006 was designed to test the northwestern extension of the mineralization at North Stock. The
hole intersected lithologies that varied from phonolites, heterolithic breccias and schist with the
better grades hosted in the breccia units. While the hole intersected thick zones of low grade
mineralization, it also intersected some of the strongest alteration seen in the program with
moderate to strong pervasive potassic alteration and associated carbonate alteration. This type of
alteration is an important geological marker for gold mineralization in the district.
RSR-007 tested a strong IP anomaly 350 metres southwest of North Stock. The hole was drilled
entirely in schist. The gold intercept reported near the bottom of the hole was associated with a
zone of weak t o moderate potassic alteration. The results showed low -grade mineralization
associated with the IP anomaly and the Company has plans to further test the target in 2017.
BJR-001 and BJR-005 were designed to test the western portion of the large (400 metres by 750
metres) gold-silver soil geochemistry anomaly at Bl ackjack. Both holes inte rsected Precambrian
granites with minor quartz veins. The gold was associated with zones of weak to moderate pyrite
in BJR-001 while the mineralization in BJR-005 was found in zones with moderate to strong pyrite
and potassic (adularia-quartz) alteration. It is important to note that BJR -005 hosted significant
silver mineralization which included 36.86 g/t Ag over 18.3 met res and 10.62 g/t Ag over 53.3
metres. The holes are significant as they intersected thick zones of mineralization which remain
open to the west with results pending on a number of proximal holes.
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Outlook
To date, the Company has completed 50% of its 2017 drill program with approximately 14 holes
pending assay results. The remaining 25 drill holes consist of an additional 10 brownfield holes and
approximately 15 greenfield holes. Drilling on the greenfield targets is expected to begin in
October. Based on current productivity rates, the Company expects to complete the drilling
program in early November. Results from the 2017 drilling program are expected to be announced
on a monthly basis for the remainder of the year and potentially into 2018. In addition to the drill
program, further metallurgical testwork and geological and resource modelling will be completed
to support a maiden National Instrument 43-101 resource estimate that is expected to be announced
in the first half of 2018.
Figure 1: To view a plan map of North Stock and Antelope Basin 2017 drill results, planned hole
locations and historic drill highlights, click here:
https://www.gfgresources.com/files/images/projects/exploration_targets/2017/09/NS_AB_Plan-
Map_Sept-20_DDH-Release.jpg
Figure 2: To view a plan map of Blackjack 2017 drill results, planned hole locations and historic
drill highlights, click here:
https://www.gfgresources.com/files/images/projects/exploration_targets/2017/09/BJ_Plan-
Map_Sept-20-DDH-Results.jpg
Figure 3: To view a regional map of the Rattlesnake Hills Gold Project, click here:
https://www.gfgresources.com/files/images/projects/exploration_targets/2017/09/GFG-
Resources-RSH_Regional-Target-Map-2017.jpg
Qualified Persons
Brian Skanderbeg, P.Geo. and M.Sc., President and CEO, is the Qualified Person for the
information contained in this press release and is a Qualified Person within the meaning of National
Instrument 43-101.
GFG Resources Inc. is a publicly traded precious metals exploration company headquartered in
Saskatoon, Saskatchewan, Canada, whose shares trade on the TSX Venture Exchange (GFG) and
on the OTCQB (GFGSF). The Company controls 100% of the Rattlesnake Hills Gold Project, a
district scale gold exploration project located approximately 100 kilometre s southwest of Casper,
Wyoming, U.S. The geologic setting, alteration and mineralization seen in the Rattlesnake Hills are
similar to other gold deposits of the Rocky Mountain alkaline province which, collectively, have
produced over 50 million ounces of gold.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
All statements, other than statements of historical fact, contained in this news release constitute “forward-looking information” within
the meaning of applicable Canadian securities laws and “forward-looking statements” within the meaning of the United States Private
Securities Litigation Reform Act of 1995 (referred to herein as “forward-looking statements”). Forward-looking statements include, but
are not limited to, the future price of gold, success of exploration activities and metallurgical test work, permitting time lines, currency
exchange rate fluctuations, requirements for additional capital, government regulation of exploration work, environmental risks,
unanticipated reclamation expenses, title disputes or claims and limitations on insurance coverage. Generally, these forward -looking
statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”,
“budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate” or “believes”, or the n egative
connotation thereof or variations of such words and phrases or state that certain actions, events or results, “may”, “could”, “would”,
“will”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.
All forward -looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of
management, the assumed long-term price of gold, that the Company will receive required permits and access to surface rights, that the
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Company can access financing, appropriate equipment and sufficient labour, and that the political environment within the United States
will continue to support the development of mining projects in the United States. In addition, the similarity or proximity of other gold
deposits of the Rocky Mountain alkaline province to the Rattlesnake Hill Gold Project is not necessary indicative of the geological
setting, alteration and mineralization of the Rattlesnake Hills Gold Project.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of GFG to be materially different from those expressed or implied by such forw ard-
looking statements, including but not limited to: actual results of current exploration activities; environmental risks; future prices of
gold; operating risks; accidents, labour issues and other risks of the mining industry; delays in obtaining government approv als or
financing; and other risks and uncertainties. These risks and uncertainties are not, and should not be construed as being, exhaustive.
Although GFG has attempted to identify important factors that could cause actual results to differ materially from those cont ained in
forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be
no assurance that such statements will prove to be accurate, as actual results and future events could differ ma terially from those
anticipated in such statements. In addition, forward -looking statements are provided solely for the purpose of providing information
about management’s current expectations and plans and allowing investors and others to get a better un derstanding of our operating
environment. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date hereof and GFG assume no obligation to update any forw ard-
looking statements, except as required by applicable laws.
For further information, please contact:
Brian Skanderbeg, President & CEO
Phone: (306) 931-0930
or
Marc Lepage, Vice President, Business Development
Phone: (306) 931-0930
Email: [email protected]
Website: www.gfgresources.com