Gander Gold Corp (CSE:GAND) told investors it has completed its maiden rotary air blast (RAB) drilling program at Thwart Island in Newfoundland and Labrador’s Bay of Exploits, part of the company’s wholly-owned Botwood-Laurenceton-Thwart Island (BLT) Project.
The company said three RAB drill holes were completed at the Islander Zone between July 28 and July 31, 2023, for a total of 193.5 meters (m). The targets were defined from 2022 and 2023 soil sampling and prospecting results.
It noted that prospecting identified the presence of arsenopyrite mineralization associated with quartz veining dominated by angular, sub-angular cobbles within thin overburden cover in the Islander Zone.
This suggests that the overlying gold-in-soil geochemistry anomaly is likely from a nearby bedrock source and not from glacially transported material, the company added.
"Our preliminary Thwart Island exploration program has produced very promising soil geochemistry results, including at nearly 6 grams per tonne (g/t) the highest-grade gold-in-soil result generated from the nearly 40,000 samples we've collected in Newfoundland," Gander Gold CEO Mark Scott commented.
"As our technical team assess the pending assay and structural data from this summer's RAB drilling program, we expect these first few holes will deliver high-priority diamond drill targets for follow up drilling. All indications to date are that we have identified structurally controlled, near-surface gold mineralization on Thwart Island.”
The company said it defined the Islander Zone on Thwart Island prior to the Summer 2023 drill program. In addition, it said late 2022 prospecting results yielded a bedrock sample that returned 1.07 g/t gold and greater than 10,000 parts per million (ppm) arsenic.
Preliminary interpretation based on observed lithology and XRF (x-ray fluorescence) values confirmed the presence of arsenopyrite in chip samples and significant intervals of arsenic occur in all three RAB drill holes.
Prior to RAB drilling at Thwart Island, the company noted that ground VLF surveys were conducted over the Islander Zone for the purpose of identifying structural controls occurring within the area of interest.
Prior to the RAB drilling at Thwart Island, the company said the drill crew and geotechnical personnel completed the Phase 1 RAB program at the company's wholly-owned 485 km2 Gander North Property, which included 28 RAB holes.
After drilling was completed at Thwart Island on July 31, the drill and personnel moved to Lizard Pond at its Gander South Project.
The company said updates on each of the programs will be provided as results are received, and evaluated, and initial interpretations from the 2023 RAB drilling program are completed.
Contact the author at stephen.gunnion@proactiveinvestors.com