Gander Gold Corp (CSE:GAND) said recent exploration work at its Mount Peyton project in Newfoundland has expanded the Golden Horseshoe Zone in the southwest corner of the property and uncovered a new target area in the southeast, with first-ever drilling at the project planned for this year.
The company noted this news came after the company in April announced the addition of the Goldenrod Zone in the northwest portion of the property.
A third target zone at the property may emerge along the east-central portion of the project area where arsenic-gold-antimony in-soil anomalies align with potential splays from the Dog Bay Line – Appleton Fault system, the company said.
Follow-up work will be performed in 2023 to develop the emerging target zone.
"We will be focusing our Mount Peyton 2023 exploration at the Goldenrod and Golden Horseshoe Zones,” said Gander Gold VP-Exploration Ian Fraser in a statement.
“Both areas are structurally significant and also very anomalous in gold-arsenic-copper soil geochemistry. This project continues to surprise to the upside, so we're excited to be closing in on drill targets."
Gander Gold’s slogan is “All Newfoundland, All the Time.” The company is one of the island's largest claim holders targeting new high-grade gold discoveries with a current focus on the large Gander North, Mount Peyton, Botwood-Laurenceton-Thwart Island, and Cape Ray II projects where there has been very promising early exploration success.
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