G4G Resources Ltd.

G4G Resources Ltd.

December 02, 2010 09:00 ET

G4G Resources Initiates Work Program on Vancouver Island Porphyry-Copper-Gold Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 2, 2010) - G4G Resources Ltd. (TSX VENTURE:GXG) ("G4G", "the Company") announced today that it plans to conduct a work program in order to better define its porphyry-copper-gold-silver properties located within ten kilometres of Port Alberni on Vancouver Island.

G4G will conduct a systematic mapping and geophysics program on the Macktush and Dauntless properties, which cover an area of 10,185 hectares. The Macktush property was acquired by the Company in 1987 and subsequent staking added the Dauntless property into the portfolio. G4G holds 100% of the Vancouver Island properties which total 13, 550 hectares.

Basil Botha, President and CEO of G4G remarked, "Our Port Alberni properties host excellent exploration targets for both high grade and bulk mineable deposits. In 1987 ten drillholes were completed. Hole DDH87-03 intersected 44.23 g/t gold, 172.80 g/t silver and 0.95% copper over 3.81 metres (Interval 36.59-40.39 metres)."

"Management believes that our properties in the Port Alberni area have a good chance of hosting mineralization similar to the Island Copper District, which hosts porphyry-copper-gold mineralization directly related to mesozonal to epizonal intrusions," continued Mr. Botha. "BHP's Island Copper mine, operated from 1971 to 1995, produced 1.3 million tonnes of copper, 31,000 tonnes of molybdenum, 340 million grams of silver and 32 million grams of gold (BHP, 1996) from a Copper-Molybdenum-Gold porphyry deposit. G4G's gold properties on Vancouver Island are accessible by road and are in close proximity to infrastructure."

G4G will focus on the "Rex" area (MINFILE 092F221), which the Company considers to be the most prospective un-drilled exploration target on the Macktush property at this time. The large aerial extents of the geophysical response, the alteration signature, and the sulphide mineralization along with the combination of elevated multiple geochemical indicators could represent the halo near a porphyry copper-molybdenum-gold. The geological setting is similar to that of past producing Island Copper Mine on Vancouver Island and will be used as a mineral deposit model for G4G's properties. The Rex area could also represent the source of high-grade vein-type gold-silver-copper mineralization seen nearby and drilled in past exploration campaigns.

Hole Interval (m) Length (m) Au (g/t) Ag (g/t) Cu (%)
DDH87-01 109.58-110.72 1.14 5.97 2.06 0.03
DDH87-03 33.50-34.29 0.79 3.84 16.46 0.80
  36.59-40.39 3.81 44.23 172.80 0.95
DDH87-08 71.63-72.88 1.25 9.94 1.71 0.03
DDH88-05 47.22-48.80 1.58 0.21 3.09 0.02

Both the Island Copper district and the Port Alberni district are underlain by volcanic rocks of the same age and potentially host similar styles of mineralization.

All the properties have been explored primarily for gold, copper molybdenum and silver, targeting porphyry, skarn and epithermal vein type deposits. The contiguous block forming the Macktush, Dauntless and MC properties have NI 43-101 compliant indicated resources. Please see the news release dated March 19, 2007 from SYMC Resources Ltd. (G4G's previous name) and the following table. The news release can be accessed on SEDAR under the name of G4G Resources Ltd. or on G4G's website at www.g4gresources.com.

Vein/Zone Tonnes Gold g/t Silver g/t Copper % Category Date of the Technical Report
David Vein 16,278 5.65 25.6 0.31 Indicated February 28, 2006
Fred Vein 65,475 13.91 48.1 0.59 Indicated January 26, 2007
Zinc Vein 35,710 8.97 44.5 0.57 Indicated January 26, 2007
Jack Vein 13,994 2.00 0.8 0.02 Indicated January 26, 2007
Moly Vein 504 4.27 1.5 0.01 Indicated January 26, 2007
Dauntless North Veins 14,171 0.04 6.2 2.05 Indicated February 28, 2006
Herbert Jr. Vein 8,479 0.12 6.7 5.16 Indicated February 28, 2006
Tasha Zone 20,423 0.01 0.6 0.16 Indicated February 28, 2006
MC1 Zone 21,851 0.26 6.9 0.43 Indicated January 26, 2007
MC2 Zone 138,499 0.33 5.2 0.47 Indicated January 26, 2007
MC3 Zone 17,618 0.38 1.0 0.05 Indicated January 26, 2007

G4G Resources has an extensive database of the projects and after its revision is planning to conduct systematic work programs on all the properties to determine their overall potential. Work completed to date consists primarily of prospecting, hand trenching, airborne geophysics and diamond drilling.

The geological information in the news release has been verified by Raul Sanabria, P.Geo., who is the Qualified Person for G4G Resources Ltd. under NI 43-101.

About G4G Resources Ltd.

G4G Resources Ltd. is a Canadian-based mineral exploration and development company focused on a number of low cost iron ore projects.

G4G's latest corporate presentation can be viewed at www.g4gresources.com.

Forward-Looking Statement

This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances, except as required under securities laws. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company's 2009 year end audited financial statements filed with SEDAR on April 30, 2010.

Should you wish to receive Company news via email, please email ir@g4gresources.com and specify "G4G News" in the subject line.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information