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Wednesday, Jun 12, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Gladiator Metals discovers high-grade copper assays in the Yukon

The assay results also found substantial molybdenum mineralization mixed with the copper

Gladiator Metals discovers high-value copper assays in the Yukon
On location at the Cowley Park copper prospect. Image via Gladiator Metals.

Gladiator Metals Corp. (TSXV: GLAD) (OTC Pink: GDTRF) (FSE: ZX7) discovered high-value copper assays from its 2,632 meter drilling campaign at Cowley Park prospect at the Whitehorse Copper Project.

The company announced on Wednesday that it originally completed its 14-hole drill campaign mid-May, and results have now been received for seven of those holes.

All boreholes returned significant intercepts. These findings provide further confirmation of the presence of wide and continuous mineralization. Mineralization remains open in all directions and results from the campaign include:

  • CPG-006: 16 meters at 2.36 per cent Cu from 79 meters within 92 meters at 0.71 per cent Cu from 67 meters
  • CPG-003: 13.2 meters at 2.26 per cent Cu from 22.8 meters
  • CPG-001: 20 meters at 1.43 per cent Cu from 42 meters within 71 meters at 0.72 per cent Cu from 32 meters
  • CPG-004: 10 meters at 1.68 per cent Cu from 87 meters within 28 meters at 0.91 per cent Cu from 87 meters
  • CPG-010: 26 meters at 1.14 per cent Cu from 86 meters
  • CPG-002: 13 meters at 1.44 per cent Cu and 0.15 per cent Mo from 28 meters and; 33 meters at 1.48 per cent Cu from 71 meters within 113 meters at 0.79 per cent Cu

“Results from Gladiators sampling continues to define the continuity and scale of copper mineralisation at Cowley Park as well as providing further definition to the potentially significant coincident Molybdenum mineralisation,” said Jason Bontempo, Gladiator CEO.

“The broad widths of mineralisation, surrounding the higher-grade intervals were not typically assayed by previous operators and Gladiator believes that these have significant potential.”

Cowley copper prospect plan map. Image via Gladiator Metals.

Read more: NevGold to hit the ground running at Limousine Butte in 2023: Caesars Report

Read more: NevGold submits exploration and expansion plans for gold project in Nevada

Results from drilling affirm presence of continuous mineralization

Gladiator Metals extensive drilling campaign at Cowley Park drilled various holes at different locations.

The results obtained from these drillings affirm the presence of wide and continuous mineralization, validating the previous targeting efforts. Additionally, the mineralization remains open in all directions, indicating the potential for further extensions.

Noteworthy intercepts include:

  • CP-003: 16.76 meters at 2.27 per cent Cu from surface
  • CP-119: 36.27 meters at 2.28 per cent Cu from 72.24 meters
  • CP-125: 23.32 meters at 3.53 per cent Cu from 51.51 meters
  • 19-CP-08: 43.28 meters at 2.24 per cent Cu from 93.27 meters
  • CP-053: 27.7 meters at 2.74 per cent Cu from 8.69 meters, including 7.83 meters at 8.34 per cent Cu from 23.93 meters

The company will continue to assess the potential for expansion and further understanding of the mineralized system in this area.

The assay results from the recent drilling campaign have not only confirmed significant zones of copper mineralization but have also brought to light the presence of substantial molybdenum mineralization that coincides with the copper mineralization. These findings further enhance the prospectivity of the project.

Notable intervals from the recently completed drilling include:

  • CPG-002: 13 meters with 1.44 per cent Cu and 0.15 per cent Mo from 28 meters. Also, 33 meters with 1.48 per cent Cu from 71 meters, within a broader interval of 113 meters with 0.79 per cent Cu.
  • CPG-004: 10 meters with 1.68 per cent Cu from 87 meters, within a broader interval of 28 meters with 0.91 per cent Cu from 87 meters.

These results indicate the presence of significant molybdenum mineralization along with the copper mineralization, further adding to the economic potential and value of the project.

Not too far away from Gladiator’s setup, Newmont Corporation‘s (TSX: NGT) (NYSE: NEM) proposed Coffee Gold mine is presently under review by the Yukon environmental and socio-economic assessment board.

The Coffee Gold project covers approximately 22,000 hectares, which is roughly half the size of Whitehorse. According to the company’s proposal, it is expected to produce approximately 2.6 million ounces of gold over a 10-year period, potentially making it the largest gold mine in Yukon once the amount of gold in the ground is confirmed. In comparison, Victoria Gold Corp‘s (TSX: VGCX) Eagle Gold Mine near Mayo, which is currently the largest gold mine in Yukon’s history, is projected to produce 2.1 million ounces of gold over 10 years.

Gladiator shares dipped 1.8 per cent to $0.54 on Wednesday on the TSX Venture Exchange.


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