Gladiator Recommences Drilling at the Whitehorse Copper Project and Strengthens Executive Team
- Gladiator Metals Corp. has recommenced drilling at the Cowley Park Copper prospect at the Whitehorse Copper Project.
- A 4,000m diamond drill program will test high-grade copper skarn mineralization.
- Gladiator is fully funded with $8.2 million cash on hand.
- Gladiator has also made additions to its management team.
- The drilling program aims to better define high-grade mineralization and test its extensions.
- High-grade copper skarn mineralization has been traced over 700m strike.
- The current drilling program targets extensions to identified mineralization.
- Gladiator executed an option agreement to acquire 100% of the Whitehorse Copper Project.
- The Company announces the grant of a total of 1,825,000 incentive stock options to certain directors, officers, and consultants of the Company.
- None.
Vancouver, British Columbia--(Newsfile Corp. - September 26, 2023) - Gladiator Metals Corp. (TSXV: GLAD) (OTC Pink: GDTRF) ("Gladiator" or the "Company") is pleased to announce that drilling has recommenced at the Cowley Park Copper prospect at the Whitehorse Copper Project.
A 4,000m diamond drill program has commenced at the Cowley Park Prospect to test identified High-grade copper skarn mineralization.
The program will test strike and depth extensions to mineralization providing Gladiator with a better understanding of the mineral potential within the Whitehorse Copper Project.
Gladiator is fully funded to expand its ambitious exploration program at the Whitehorse Copper Project with
$8.2 million cash on hand (on 26 September)
Gladiator is also pleased to announce additions to its Whitehorse-based management team through the appointment of:
Marcus Harden, President: Geologist with more than 20 years of exploration and management experience with key roles in multiple discoveries globally. Former Principal Geologist - First Quantum Minerals.
Leneath Yanson, Community Liaison: More than 5 years of community and public relations experience in Non-Profit and Yukon First Nations community and economic development.
Gladiator CEO, Jason Bontempo commented:
"Gladiator is excited to recommence diamond drilling at the high-grade Cowley Park Copper Prospect. Over the summer, Gladiator's team has integrated surface mapping, historic drill hole datasets and planned regional geophysical surveys to identify potential controls on high-grade mineralisation within the deposit. This drilling is focused on better defining this high-grade mineralisation as well as testing its strike and depth extensions.
Gladiator has also boosted its management team through the appointments of Marcus Harden as President and Leneath Yanson as Community Relations Liaison. The strengthening of the team ensures that Gladiator can execute its core strategy with the aim of delineating a high-grade copper inferred resource at the Whitehorse Copper project in a framework that respects and benefits the local communities and stakeholders.
We look forward to updating the market in the coming months with results from our summer field campaign, data compilation of historic drilling, further sampling assays from previously unlogged and unsampled core as well as results from Gladiators drill campaign at Cowley Park."
Cowley Park - Updated Targeting
The Company has recently updated its model of identified mineralisation at the Cowley Park Prospect through the integration of historical drilling and recent surface mapping from summer field campaigns.
High-grade copper skarn mineralization has now been traced over more than 700m strike with mineralization remaining open in all directions.
The current drilling programme is designed to target extensions to identified high-grade mineralised trends through step out drill holes located primarily to the south and southeast of identified mineralisation, including following up on the most southeasterly hole to date, 19-CP-08 which intersected 43.28m @
Figure 1: Plan map of the advanced Cowley Park Copper Prospect. Recently collated historical drill results with a cumulative Copper%*m of >40 highlighted as well as recent assay results from previously unassayed core from exploration drilling completed in recent years. Proposed drilling also highlighted.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/181907_18d5f8b204813806_002full.jpg
A complete list of the compiled holes from Cowley Park and their significant intercepts and details can be found at:
Further details on quoted mineralisation intersected in drilling contained in this release, plus any relevant information regarding QAQC can be found at:
"Gladiator Metals Announces Results of Maiden Drill Program at Cowley Park Copper Prospect" - Announced to the TSX on 24 July, 2023.
"Gladiator Metals Intersects Copper in Maiden Drill Campaign at Cowley Park" - Announced to the TSX 5 June, 2023.
"Gladiator Metals Assays 32.92m @
2.08% Copper from Historical Drill Core at Cowley Park" - Announced to the TSX 15 May, 2023."Gladiator Metals Samples 12.5m @
8.02% Copper at the Cowley Park and Commences Drilling at the Whitehorse Copper Project" - Announced to the TSX 27 April, 2023."Gladiator Metal Announces Additional High-Grade Copper Drill Intercepts" - Announced to the TSX 3 April, 2023.
The Whitehorse Copper Project
The Whitehorse Copper Project is an advanced-stage copper (Cu) ± molybdenum (Mo) ± silver (Ag) ± gold (Au) skarn exploration project in the Yukon Territory, Canada. The property comprises 314 contiguous claims covering approximately 5,380 Hectares (13,294 acres) in the Whitehorse Mining District.
Copper mineralization was first discovered in 1897 on the Whitehorse Copper Belt, as it became to be known. The Whitehorse Copper Belt comprised over 30 copper-related, primarily skarn occurrences covering an area of 35 by 5 km in a north westerly trending arc (refer to Figure 2). Exploration and mining development have been carried out intermittently since that time with the main production era lasting between 1967 and 1982 where production totaled 267,500,000 pounds copper, 225,000 ounces of gold and 2,838,000 ounces of silver from 11.1 million tons of mineralized skarn ore milled (Watson, 1984).
The Project is accessible through with numerous access roads and trails located within 2 km of the South Klondike Highway and the Alaska Highway. An extensive network of historical gravel exploration and haul roads exists throughout the project area, providing excellent access to the majority of the claim package. Access to existing electric power facilities is available through the main Yukon power grid.
In November 2022, Gladiator executed an option agreement to acquire
Figure 2: Plan map of the Whitehorse Copper Project showing geology and location of key prospects within the main trend please refer to Company's news releases dated February 13 2023 and April 3, 2023 for details.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/181907_18d5f8b204813806_003full.jpg
Qualified Person
All scientific and technical information in this news release has been prepared or reviewed and approved by Kell Nielsen, a "qualified person" as defined by NI 43-101.
The Company announces the grant of a total of 1,825,000 incentive stock options to certain directors, officers and consultants of the Company, subject to TSX Venture Exchange acceptance. Each option is exercisable to purchase one common share of the Company for five years at a price of CAD 0.55 per common share in accordance with the terms of the Company's stock option plan and subject to certain vesting provisions.
ON BEHALF OF THE BOARD
"Jason Bontempo"
Jason Bontempo
President and CEO
For further information contact:
Dustin Zinger, Investor Relations
+1-604-653-9464
dzinger@gladiatormetals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Certain of the statements and information in this news release constitute "forward-looking statements" or "forward-looking information". Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) that are not statements of historical fact may be forward-looking statements or information..
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company's properties; the effect of changes in commodity prices; regulatory risks that development of the Company's material properties will not be acceptable for social, environmental or other reasons; availability of equipment (including drills) and personnel to carry out work programs; and that each stage of work will be completed within expected time frames. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
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