Gander Gold Corp (CSE:GAND) told investors that its Botwood-Laurenceton-Thwart Island (BLT) Project in Newfoundland has revealed high-grade gold-in-soil results as it prepares for the field season, which begins in May and will lead towards the first-ever diamond drilling at BLT.
The company said the results were particularly evident in the newly identified ‘Islander Zone’, which covers a central portfolio of Thwart Island in the Bay of Exploits.
“We continue to generate outstanding soil sampling results in the context of Newfoundland, consistent with what has been observed at New Found Gold’s Queensway Project and Labrador Gold’s Kingsway Project,” Gander Gold vice president of exploration Ian Fraser said in a statement. “Most notably, from among the almost 39,000 soil samples taken by Gander over the last two seasons, the highest-grade gold-in-soil result to date is found right in the heart of the newly named Islander Zone on Thwart Island.”
Highlights from BLT sampling include:
- 18 samples, including seven in the 1,400-metre (m) x 400m zone on Thwart Island, returned very high values greater than 99.8 parts per billion (ppb) gold (Au), including three greater than 1,000 ppb Au (1 g/t Au);
- The presence and orientation of major faults and folds occurring within the BLT Project suggest good potential for mesothermal gold mineralization; and
- A moderate to strong antimony (Sb) correlation occurs with Au/As-in soil. Arsenic and Sb are both key minerals associated with Au mineralization in Newfoundland.
“We’re excited to follow up on the Islander Zone with early-season prospecting and mapping to better define 2023 drill targets there, along with target definition for Gander’s first ever drill programs in 2023 at the Gander North and Mount Peyton projects,” Fraser added. “The number of significant soil anomalies identified to date by the company, across multiple project areas, continues to build the potential for significant drill discoveries in 2023 and beyond.”
The company said it expects to announce additional exploration updates on its flagship Gander North Project and Cape Ray II properties over the coming weeks after making important progress at the projects.
It also announced that t will participate in the Central MinEx Mineral Industry Showcase from April 26 to 28 at the Steele Community Centre in Gander, Newfoundland. Gander Gold’s largest individual shareholder after Sassy Gold, Eric Sprott, will be the keynote speaker at a luncheon on April 28, beginning at 12pm, it added.
Contact the author at stephen.gunnion@proactiveinvestors.com