Gatling Exploration Inc's (CVE:GTR) (OTCQB:GATGF) CEO Jason Billan has outlined a busy and successful first quarter at the company as it progresses to a resource update for its Larder project, Ontario, earmarked for completion by the end of 3Q.
The 3,370-hectare property sits in the prolific Abitibi greenstone belt and hosts three high-grade gold deposits - Fernland, Cheminis and Bear - which are all connected.
READ: Gatling Exploration rapidly expanding footprint, grade and continuity at Fernland deposit, Larder project
"We have demonstrated the strong, near-surface potential of the Fernland deposit through a series of impressive intersections of up to 200 m in length that have carried strong grade for an open-pit prospect, raising our confidence that the deposit will eventually translate into a nice starter pit," said Billan in a corporate update.
"We have now arranged a second drill rig to site, expected by the beginning of May, which will allow us to ramp up drill activity at both the Fernland and Bear deposits in addition to the Kir Vit prospect during the second quarter," he added.
The company boss also noted that in the current quarter, Gatling will begin a metallurgical testing program ahead of cutting off drilling in early Q3.
"From a strategic perspective, the Abitibi greenstone belt has been extremely active on the consolidation front over the past 3 - 6 months, with a number of explorers and developers being acquired, consolidated, or joint ventured, suggesting that the smaller group of remaining projects held in the hands of junior companies should begin to trade at a premium relative to the sector," he said.
Closer to home, major Agnico Eagle has named its Upper Beaver project flanked on the western side of Gatling's land package, as a top-ranked project in its portfolio, with a path towards development and into production by 2027.
To view the company's presentation, click HERE.
Contact the author at giles@proactiveinvestors.com