Gatling Exploration Inc (CVE:GTR) (OTCQB:GATGF) has reported more good gold grades near-surface at its flagship Larder gold project in Ontario.
Latest drill assays included an intersection of 170 metres (m) of 1.5 grams per ton (g/t) of the yellow metal, starting from just 31m below surface. That came from a hole drilled at Zone 2 of the Fernland deposit and followed Gatling's recent success 400m west at Zone 1, where a hole hit 101.3m at 1.1 g/t gold.
READ: Gatling Exploration finds widespread, near-surface gold from more drilling at Larder project
"This second round of drill results in our ongoing 25,000m program are led by highlight hole GTR-20-089, which matched the highest metal factor ever hit since the inception of Gatling," noted the group's CEO Jason Billan in a statement.
"Furthermore, our exploration team has demonstrated impressive, near-surface continuity for the first time at Larder. The Fernland deposit will be the focus for just over half of the current drill program, before we deliver an initial resource estimate at Fernland along with a resource update at Cheminis and Bear (due out in H2)."
As reported last month, Gatling has made a recent shift in exploration strategy to prioritize the significant amount of near-surface potential at Larder.
Today, Gatling said it will now test Zone 3 at Fernland - one of the three gold deposits (along with Bear and Cheminis) along a 4.5 kilometre (km) trend at the project that hosts high-grade mineralization at depth and widespread mineralization near-surface.
The Fernland deposit is home to three distinct zones and the company has now demonstrated a thickness up to 13m at 2g/t gold and a continuity of 170 m at 1.5 g/t gold at Zone 2. Drilling previously at Zone 1 displayed thicknesses up to 35m and over 100m in gold continuity.
"These results continue to reveal the excellent grade distribution, size, and vast potential of the near-surface gold mineralization at the Fernland deposit," said Gatling.
The Larder property sits on the Cadillac-Larder Lake Break, 35km east of Kirkland Lake. The project is 100% controlled by Gatling and is positioned 7km west of the Kerr Addison mine, which has produced 11 million ounces of gold.
Shares in Toronto nudged up 4.4% to C$0.48 each.
---Updates for share price---
Contact the author at giles@proactiveinvestors.com