Gander Gold said it has identified three large zones of interest at its Cape Ray II gold project in southwest Newfoundland.
The three zones - Doughball Jog, Sou'wester, and Cabot - were identified using nearly 4,500 soil samples, geophysics surveys, and structural interpretation, the company said.
The largest of the three zones covering about 30 square kilometres (km) Doughball Jog is a sigmoidal-like feature defined by a late granitoid intrusive and is considered by Gander Gold to be very prospective for high-grade gold mineralization that may have accumulated in deformation zones.
Sou’wester is located within 3 to 5 km of Matador Gold’s two main deposits and has returned anomalous to highly anomalous gold-in-soil samples, including three samples exceeding 100 parts per billion gold over a 7 km-long northeast-southwest trend, according to Gander Gold.
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"These early-stage 2021-2022 results from the Cape Ray II project, along with the emerging drill targets recently announced at the Gander North, Mount Peyton and BLT projects, demonstrate the value-generating potential of our top-tier portfolio in Newfoundland at a time when gold is approaching all-time highs,” commented Gander Gold CEO Mark Scott in a statement.
“We are very pleased with how these projects have progressed over Gander's first two field seasons in Newfoundland and the company's short history as a public company first listed on the CSE in March 2022.
“First-ever drilling in 2023 will deliver plenty of excitement for Gander shareholders."
Gander Gold is targeting high-grade gold discoveries in Newfoundland with a current focus on the large Gander North, Mount Peyton, BLT (Botwood-Laurenceton-Thwart Island) and Cape Ray II projects where there has been very promising early exploration success.
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