GFG Begins 8,500 Metre Drill Program Focused on High-Grade Gold Targets at the Pen Gold Project, West of Timmins, ON - Seite 2

2020 Phase 2 Drill Target Descriptions

Reeves Region – Nib Prospect
Four distinct northeast-trending mineralized zones have been outlined within sheared and altered diorite at the Nib Prospect. Initial follow-up drilling at the Nib Prospect will focus on the uppermost zone where hole PEN-20-47 encountered 71.27 g/t Au over 8.5 m at 50 m below surface and for strike and depth extensions of this shallow, high-grade zone.  

Tremblay Region – Broadway Prospect
Reconnaissance drilling at the Broadway Prospect returned 7.30 g/t Au over 0.7 m in veined and carbonate-altered diorite (see release dated February 19, 2020: “GFG Provides Exploration Update and Initiates 2020 Drill Program at Pen Gold Project West of Timmins, ON”). Surface rock grab samples grading up to 8.0 g/t Au and till anomalies with up to 57 gold grains (77% pristine) suggest that the mineralized trend could extend for about 1.2 kilometres. As part of the current drill program, three or four holes will test the trend towards the south at 300 m and 600 m from previous drilling.

Jehann East Region – Boundary Trend
At eight different locations along the three-kilometre-long Boundary Trend, grab samples collected from outcrop returned values of greater than 1.0 g/t Au with the highest assay being 11.10 g/t Au (see news releases dated July 15, 2020: “GFG Confirms New High-Grade Gold Target with up to 11 g/t Gold from Surface Sampling and Provides Exploration Update at the Pen Gold Project West of Timmins, ON” and December 9, 2019: “GFG Identifies New Gold Target with up to 7 g/t Gold and Expands Slate Rock Target at the Pen Gold Project West of Timmins, ON”).  As part of the current drill program, three or four priority targets will be tested along this trend which has seen no previous drilling despite its proximity to the Porcupine-Destor Fault Zone.

Deerfoot Region – HGM and Crawford Prospects
Recent drilling by the Company at the HGM and Crawford zones has returned high-grade intervals of 7.53 g/t Au over 2.2 m (including 31.80 g/t Au over 0.5 m) and 21.26 g/t Au over 1.7 m, respectively (see news releases dated January 8, 2020: “GFG Returns Multiple Zones of High-Grade Gold Mineralization at the HGM Target, Pen Gold Project West of Timmins, ON” and April 3, 2019:  “GFG Discovers New Gold Zone with 21.26 g/t Gold over 1.7 Metres at Pen Gold Project West of Timmins, ON”).  As part of the current drill program, three or four holes will be drilled to test for extensions to these zones.