12:25 PM EDT, 06/02/2025 (MT Newswires) -- GFG Resources ( GFGSF ) Monday shared "encouraging" results from its Phase 1 greenfield drill program at the Pen Gold Project, located in the Abitibi Greenstone Belt southwest of the Timmins Gold Camp, Ontario.

The company said best results included 3.9-grams per tonne of gold over 3.5 meters and 1.0-gpt of gold over one meter.

"The results from our Phase 1 drilling at Pen are encouraging, particularly at the Alpha and Chabot targets, where we've intersected meaningful gold and base metal mineralization," said chief executive Brian Skanderbeg.

The company's shares were last seen down $0.01 to $0.165 on the TSX Venture Exchange.

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