Galloper Expands Gold Potential of Glover Island in Western Newfoundland
Galloper Gold Corp has completed its first-ever drilling program at the Lucky Smoke occurrence on Glover Island, Western Newfoundland. The Phase 1 program, consisting of 6 diamond drill holes, is expected to extend the known gold mineralization both laterally and at depth. Lucky Smoke is located 6 km north of the historic Lunch Pond deposit on the 40-km-long island in the 'Four Corners' mining region. Visual analysis of the drill core shows favorable comparison with the Lunch Pond deposit, suggesting potential for multiple orogenic-style gold deposits along a 12-km northeast-trending contact zone. The company owns most claims on the island, except for the historic gold deposit area currently held by the Newfoundland government.
Galloper Gold Corp ha completato il suo primo programma di perforazione mai realizzato presso l'occorrenza Lucky Smoke su Glover Island, nel Newfoundland occidentale. Il programma della Fase 1, composto da 6 fori di perforazione a diamante, si prevede che estenda la mineralizzazione aurifera conosciuta sia lateralmente che in profondità. Lucky Smoke si trova a 6 km a nord del deposito storico di Lunch Pond, sull'isola lunga 40 km nella regione mineraria 'Four Corners'. L'analisi visiva del nucleo di perforazione mostra un confronto favorevole con il deposito di Lunch Pond, suggerendo un potenziale per molteplici depositi auriferi di tipo orogenico lungo una zona di contatto che si estende per 12 km a nord-est. L'azienda possiede la maggior parte delle concessioni sull'isola, ad eccezione dell'area del deposito aurifero storico attualmente detenuta dal governo del Newfoundland.
Galloper Gold Corp ha completado su primer programa de perforación en la ocurrencia Lucky Smoke en Glover Island, en la región occidental de Newfoundland. Se espera que el programa de Fase 1, que consta de 6 perforaciones diamante, expanda la mineralización de oro conocida tanto lateralmente como en profundidad. Lucky Smoke se ubica a 6 km al norte del histórico depósito Lunch Pond en la isla de 40 km de longitud, en la región minera de 'Four Corners'. El análisis visual del núcleo de perforación muestra una comparación favorable con el depósito de Lunch Pond, sugiriendo un potencial para múltiples depósitos de oro de estilo orogénico a lo largo de una zona de contacto que se extiende por 12 km en dirección noreste. La empresa posee la mayoría de las reclamaciones en la isla, excepto el área del depósito de oro histórico que actualmente está en manos del gobierno de Newfoundland.
Galloper Gold Corp는 Glover Island의 Lucky Smoke 발생지에서 최초의 채굴 프로그램을 완료했습니다. 1단계 프로그램은 다이아몬드 드릴링 홀 6개로 구성되어 있으며, 알려진 금광물화를 수평 및 깊이로 확장할 것으로 예상됩니다. Lucky Smoke는 'Four Corners' 광산 지역의 40km 길이의 섬에서 역사적인 Lunch Pond 매장지에서 북쪽으로 6km 떨어진 곳에 위치하고 있습니다. 드릴 코어의 시각적 분석은 Lunch Pond 매장지와 유리한 비교를 보여주며, 12km 북동쪽 방향의 접촉대沿에서 여러 개의 오로겐식 금 매장지의 잠재력을 시사합니다. 이 회사는 섬의 대부분의 채권을 소유하고 있으며, 역사적인 금 매장지 지역은 현재 뉴펀들랜드 정부가 보유하고 있습니다.
Galloper Gold Corp a terminé son tout premier programme de forage sur l'occurrence Lucky Smoke sur Glover Island, dans le Newfoundland occidental. Le programme de Phase 1, composé de 6 trous de forage en diamant, devrait étendre la minéralisation aurifère connue tant latéralement qu'en profondeur. Lucky Smoke est situé à 6 km au nord du dépôt historique de Lunch Pond sur l'île de 40 km de long dans la région minière des 'Four Corners'. L'analyse visuelle du carottage montre une comparaison favorable avec le dépôt de Lunch Pond, suggérant un potentiel pour plusieurs dépôts d'or de style orogénique le long d'une zone de contact orientée au nord-est qui s'étend sur 12 km. La société possède la plupart des claims sur l'île, à l'exception de la zone de dépôt d'or historique actuellement détenue par le gouvernement de Newfoundland.
Galloper Gold Corp hat ihr erstes Bohrprogramm überhaupt bei der Lucky Smoke-Occurrence auf Glover Island im westlichen Neufundland abgeschlossen. Das Phase-1-Programm, das aus 6 Diamantbohrlöchern besteht, wird voraussichtlich die bekannte Goldmineralisierung sowohl seitlich als auch in der Tiefe erweitern. Lucky Smoke liegt 6 km nördlich des historischen Lunch Pond-Vorkommens auf der 40 km langen Insel in der Bergbauregion 'Four Corners'. Die visuelle Analyse des Bohrkerns zeigt einen günstigen Vergleich mit dem Lunch Pond-Vorkommen und deutet auf das Potenzial für mehrere orogene Goldvorkommen entlang einer 12 km langen nordost-verlaufenden Kontaktzone hin. Das Unternehmen besitzt die meisten Ansprüche auf der Insel, mit Ausnahme des historischen Goldvorkommens, das derzeit von der Regierung von Neufundland gehalten wird.
- First drilling program completed successfully with 6 diamond drill holes
- Visual analysis indicates potential extension of gold mineralization
- Strategic location in Western Newfoundland's 'Four Corners' mining region
- Company controls majority of claims on the 40-km-long island
- Company doesn't own the historic gold deposit area
- Assay results still pending
- No systematic exploration conducted on much of the island
VANCOUVER, BC / ACCESSWIRE / November 13, 2024 / Galloper Gold Corp. (CSE:BOOM)(OTC PINK:GGDCF)(Frankfurt:W9F) (the "Company" or "Galloper") is pleased to announce that the Company's first-ever drilling at Glover Island is expected to significantly extend the known gold mineralization, both laterally and at depth, at the Lucky Smoke occurrence where only limited historical exploration has occurred.
Lucky Smoke is located approximately 6 km north of the historic Lunch Pond deposit on the nearly 40-km-long island in the heart of Western Newfoundland's "Four Corners" mining region (see map further below, Figure 2).
Galloper's Phase 1 program was the first diamond drilling on Glover Island since 2012. Detailed analysis of the drill core and all data from the 6 holes completed at Lucky Smoke, including a downhole probe, are expected to greatly enhance the Company's understanding of the gold potential of the broader island. Most of the 122 historic (1985-2012) diamond drill holes at Glover Island (Conliffe, Geology and Mineral Potential of the Glover Island/Grand Lake Area, 2021) were relatively shallow and confined to a small area with outcrop on the southern part of the island.
Mr. Hratch Jabrayan, Galloper CEO, commented: "The potential scale of Glover Island, and the opportunity for multiple orogenic-style gold deposits, is evident from visual analysis of the drill core at Lucky Smoke which compares favorably with the Lunch Pond deposit 6 km to the south along a northeast-trending contact zone that continues for at least 12 km.
"Galloper owns most of the claims on the island, though not the historic gold deposit at this time or the claims immediately adjacent to it (held by the Newfoundland government). We're eagerly anticipating assay results for Lucky Smoke which will help us design a major drilling and exploration campaign for 2025. Much of Glover Island has never been systematically explored for its gold and copper potential."
Figure 1 - Representative Lucky Smoke Drill Core
Section of Galloper drill core from LS-24-06 (129.85 m to 145.95 m) - part of a 50-m true thickness alteration zone with quartz-pyrite veins cutting through a favorable felsic unit associated with gold mineralization elsewhere on the island (historic deposit 6 km to the south).
Glover Island Geological Setting
Glover Island is situated in very favorable terrane along the regional Baie-Verte Brompton Line-Cabot Fault Zone (BCZ), a major boundary between the Humber and Dunnage Zones.
Glover Island in a Broader Regional Context
62 km south is Caliber Gold's multi-million ounce Valentine Gold mine slated for production beginning in 2025;
55 km due west is the prolific past producing Buchans mine (1928-1984), one of the richest base metal mines in Canadian history, in an area that includes recently defined resources and a number of prospects;
82 km southwest is Atlas Salt's world class Great Atlantic Salt Project advancing toward the construction phase.
Figure 2 - "Four Corners" Region of Western Newfoundland
Investors are cautioned that mineralization on adjacent properties is not necessarily indicative of the mineralization at Glover Island or the potential for a resource.
CEO Hratch Jabrayan Video Profile
Click on the following link to learn more about Hratch, Galloper Gold's new CEO.
https://vimeo.com/1007433600/031f977268
Figure 3 - Glover Island Property Map
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Peter Lauder, P.Geo., Director and Senior Geologist for Galloper Gold. Mr. Lauder is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
Acknowledgment - Newfoundland & Labrador Junior Exploration Assistance Program
Galloper Gold acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
About Galloper Gold Corp.
Galloper is focused on mineral exploration in the Central Newfoundland Gold Belt with its Glover Island and Mint Pond properties, each prospective for gold and base metals. The Glover Island Property consists of 532 mining claims totaling 13,300 hectares while Mint Pond consists of 499 claims totaling 12,475 hectares.
For more information please visit www.GalloperGold.com and the Company's profile on SEDAR+ at www.sedarplus.ca.
On behalf of the Board of Directors,
Mr. Hratch Jabrayan
CEO and Director
Galloper Gold Corp.
Company Contact:
info@gallopergold.com
Tel: 778-655-9266
Investor Relations:
MarketSmart Communications
Tel: 877-261-4466
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward-looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with mineral exploration generally, risks related to capital markets, risks related to the state of financial markets or future metals prices and the other risks described in the Company's publicly filed disclosure.
Management has provided the above summary of risks and assumptions related to forward-looking statements in this news release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this news release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Galloper Gold Corp.
View the original press release on accesswire.com
FAQ
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