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Thursday, Jul 25, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Gold

Gander Gold finds strong gold mineralization in Gander North

Gander Gold encountered anomalous mineralization in 14 of the 17 RAB holes drilled on the eastern side of Gander North

Gander Gold finds strong gold mineralization in Gander North
Gander North in Newfoundland and Labrador. Image via Gander Gold.

Gander Gold Corp. (CSE: GAND) (OTCQB: GANDF) discovered gold mineralization in eight of the 11 rotary air blast (RAB) holes completed on the west side of Gander North in Newfoundland and Labrador.

The company reported on Friday that five of these holes also intersected mafic-ultramafic rock, which is associated with the Gander River Ultramafic Belt (GRUB) line.

The GRUB Line is a major fault zone that demarcates the boundary between two distinct geological terranes: the Gander Zone to the east and the Dunnage Zone to the west. This fault zone is known for its association with ultramafic rocks, which are igneous rocks with very low silica content and are typically rich in minerals such as olivine and pyroxene.

Meanwhile, RAB is a cost-effective and fast drilling technique used in mineral exploration. It involves using compressed air to drive a rotating drill bit into the ground, bringing rock chips to the surface for analysis. RAB drilling is ideal for shallow depths and preliminary exploration, helping to identify potential drilling targets for more detailed methods like diamond drilling.

Gander Gold encountered anomalous mineralization in 14 of the 17 RAB holes drilled on the eastern side of Gander North. This initial round of RAB drilling on both sides of Gander North tested only five of the 14 large soil geochemistry anomalies identified at this extensive project so far.

The results indicate that additional follow-up exploration is necessary at these five anomalies before potential diamond drilling. Gander Gold is finalizing an exploration plan for the remaining nine large soil geochemistry anomalies.

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Gander holds one of the largest claims on the island

In 2023, Gander Gold completed a total of 34 RAB drill holes across its Newfoundland properties, including three at Lizard Pond (Gander South), where one RAB hole identified diamond drill targets by intersecting 13.7 meters grading 1.06 g/t gold from surface.

Gander Gold holds one of the largest claims on the island, focusing on discovering new high-grade gold deposits. The company is focusing its efforts on projects such as Gander North, Mount Peyton, and BLT (Botwood-Laurenceton-Thwart Island). These projects are showing early promising exploration success. Other projects progressing include Cape Ray II, Carmanville, Gander South, Little River, and Hermitage.

Additionally, Gander Gold’s CEO Mark Scott said that Gander North remains at a very promising early stage. The company is excited about the discovery potential across one of Newfoundland’s biggest land packages. This includes Lizard Pond and Thwart Island, and also Mount Peyton and Cape Ray II.  These, however, still needing RAB testing.

The vibrant Newfoundland mining region hosts several mining and exploration projects.

Nearby, the Valentine Mine Project, operated by Calibre Mining Corp (TSX: CXB) (OTCQX: CXBMF), stands out as a major gold development project located approximately 250 kilometers southwest of the Gander Gold Belt.

The Valentine Mine is the largest undeveloped gold resource in Atlantic Canada. Additionally, other exploration activities by companies such as New Found Gold Corp. (TSXV: NFG) (NYSE: NFGC) and Labrador Gold Corp. (TSXV: LAB) (OTCQX:NKOSF) (FNR: 2N6) are also ongoing in the vicinity.

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Calibre Mining is a sponsor of Mugglehead news coverage

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