MINING REFINING

GFG sells Wyoming gold project

Mon Aug 19 2024

TSX-V-listed GFG Resources has announced the sale of its Rattlesnake Hills gold project – a district-scale gold exploration project in Wyoming, US – to aggregator Patriot Gold. Under the terms of the agreement, Patriot will pay GFG an aggregate consideration of about C$3.3-million.

Geologically, the Rattlesnake project is centrally located within a roughly 1 500-km-long belt of alkalic intrusive complexes that occur along the eastern side of the Rocky Mountains from Montana to New Mexico, several of which are associated with multiple gold deposits. The project has about 100 000 m of historic drilling which has outlined three significant zones of alteration and precious metal mineralisation that are associated with Eocene age alkalic intrusions at North Stock, Antelope Basin and Blackjack.

Selling the Rattlesnake property leaves GFG with three gold projects, each large and highly prospective gold properties within the prolific gold district of Timmins, Ontario. The projects have similar geological settings that host most of the gold deposits found in the Timmins gold camp which have produced over 70-million ounces of gold. 

Source: https://www.miningweekly.com/