GFG Resources has begun the first stage of a multi-phase drilling program at its Pen Gold project west of Timmins.
On Oct. 29, the Saskatchewan-headquartered company announced Phase 1 of the program will involve drilling 5,000 to 6,000 metres in 25 to 30 holes, ranging in depth from 150 to 300 metres, in the eastern portion of the project.
Pen Gold is located in the western portion of the Abitibi greenstone belt. The company has identified three zones – Deerfoot, Reeves and Jehann – to concentrate on.
Brian Skanderbeg, GFG’s president and CEO, said the drill program was starting after “months of hard work.”
“With the use of modern technology and integration of historic data at a district scale, our technical team demonstrated that this area is highly prospective and has identified numerous high-priority targets,” Skanderbeg said in the release.
“Our focus during this Phase 1 drill program will be on three camp scale targets that have the potential to yield multiple gold discoveries.”
At Deerfoot, in particular, the company said the stratigraphy, structure and nature of mineralization are similar to that which hosts the Timmins West, Thunder Creek and the 144 Gap deposits currently being developed by Tahoe Resources, located 15 kilometres to the northeast.
GFG said the exploration program is fully funded and expected to be complete by the end of December.
The company also plans to complete its Phase 2 till sampling program and analyze the new data to outline and prioritize drill targets for drill testing in 2019.
In addition to the Pen Gold project, the company owns the Dore Gold project, southwest of Timmins, and the Rattlesnake Hills gold exploration project in Wyoming, U.S.
