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Leinster South Update
- High resolution UAV (drone) magnetic survey underway at Leinster South, covering the majority of western tenement E 36/1068 which includes the Siberian Tiger gold prospect.
- New detailed geophysical data will significantly enhance the geological and structural understanding of the project area and will further assist Metal Hawk with identifying targets for drilling.
- Reconnaissance rockchip samples at Siberian Tiger returned high grade gold up to 20.2g/t from outcropping quartz veining. Additional samples of outcropping quartz veins along strike from Siberian Tiger have been delivered to the laboratory for gold and multi-element analysis.
- New tenement applications expand the Leinster South project area to over 430km2.
- Heritage negotiations and drilling approvals are underway.
The Company recently applied for two new exploration licenses to the east of Siberian Tiger, increasing the Leinster South project area to more than 430km2. This is a significant landholding in one of the most well-endowed gold regions of WA. The Siberian Tiger gold discovery is located along the southern limb of the Lawlers anticline and only 15km from the Lawlers mining centre (Figure 1). Past production from the Agnew - Lawlers deposits is > 5 million oz @ 5gt Au1.
Figure 1. Leinster South project location
A high-resolution UAV (drone) magnetic survey has commenced, with 50m spaced east-west lines at a flying height of 25m conducted over the majority of Leinster South tenement E36/1068, which includes the Siberian Tiger gold prospect. The Pegasus Airborne UAV system is able to quickly and efficiently provide high quality, detailed magnetic data which can be used to identify important structures and geological features of gold deposits. The magnetic survey will assist Metal Hawk geologists with targeting at Siberian Tiger and other regional prospect areas. Processing and interpretation of geophysical data will be carried out immediately following completion of the survey, which is expected to take 3-4 days.
Metal Hawk’s Managing Director Will Belbin commented: “We are collecting important geochemical, structural and geophysical data to better understand the controls and potential characteristics of gold mineralisation in the area. The drone magnetic survey will enable better interpretation of the subsurface geology and ultimately help us to determine the best possible target locations for the maiden drilling program at Siberian Tiger.”
“Whilst the historical geophysical dataset over the Leinster South tenure is poor, we expect that the new magnetic survey will show excellent detail and key structural features of the pronounced southeast trending greenstone belt.”
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This article includes content from Metal Hawk Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Wide Zones of Mineralisation Results Returned from Lord Byron Infill Drilling
HIGHLIGHTS
- The first assay results have been received from the ~8,000m Lord Byron infill drilling program at the Jasper Hills Gold Project
- The program forms part of an Reverse Circulation (RC) and Diamond (DD) drill-out at Jasper Hills, which was designed to infill the resource, improve the JORC classification and provide information for mine planning at the proposed Lord Byron Open Pit and Fish Underground mines announced in the Jasper Hills Scoping Study1
- Intercepts returned at Lord Byron, targeted to be mined via an open pit in 2025, include:
- LBRC24034:
- 32m @ 1.25 g/t Au from 53m
- LBRC24007:
- 24m @ 1.53 g/t Au from 53m
- LBRC24037:
- 19m @ 1.34 g/t Au from 73m
- LBRC24001:
- 14m @ 1.44 g/t Au from 77m
- LBRC24015:
- 12m @ 1.73 g/t Au from 177m
- LBRC24016:
- 15m @ 1.47 g/t Au from 178m
- LBRC24008:
- 5m @ 4.29 g/t Au from 92m
- LBRC24054:
- 9m @ 1.47 g/t Au from 29m, and
- 7m @ 3.36 g/t Au from 129m
- LBRC24032:
- 9m @ 2.05 g/t Au from 95m, and
- 4m @ 3.12 g/t Au from 71m
- LBRC24027:
- 5m @ 2.13 g/t Au from 52m
- LBRC24034:
- 54 RC holes and 2 DD holes have been drilled at Lord Byron, with assays pending for 25 RC holes, and an additional 9 DD drillholes remaining to drill at Lord Byron
- 30 RC holes and 8 DD holes have been completed at the Fish deposit, with assays to be reported when received and analysed. This drilling was completed to provide geological, metallurgical and geotechnical information to support near term mining operations
- The RC drilling rig has completed the program at Jasper Hills and has remobilised to Menzies to complete the infill drilling program at the Lady Shenton deposit
- A diamond drill rig is presently at Lord Byron completing a ~1,500m program with completion of all drilling at Jasper Hills targeted by early September 2024
Brightstar’s Managing Director, Alex Rovira, commented“These assays represent the first results from the recently acquired Linden Gold exploration package at the Jasper Hills Gold Project. The results are highly encouraging and align with grades and widths we expected from the existing 244koz Au mineral resource.
The increased confidence from this infill drilling will feed back into future resource estimates and ultimately help guide the near-term development of open pit mining operations at Lord Byron, as detailed in our recent scoping study1, which outlined the highly profitable production of 2.2Mt @ 1.6g/t for 115koz Au over three years.
Drilling continues with two drill rigs currently active at the Jasper Hills and Menzies Gold Projects, which will generate ongoing news flow in the coming months as assays are received and our geological understanding develops across our portfolio.”
TECHNICAL DISCUSSION
The RC drilling program at the Lord Byron totals 54 drill holes for ~8,000m of drilling, with assays pending for 25 holes.
The program aimed to infill the inferred portion of the resource within optimised open pit shells to a nominal 20m x 20m spacing in order to facilitate and upgrade of the resource to Indicated classification. This supports the ongoing definitive feasibility study and the assessment of a potential fast-tracked mine development.
An additional 1,500m diamond drilling program is presently underway at Lord Byron, which will provide structural, geotechnical, and metallurgical data for mine design and planning purposes.
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This article includes content from Brightstar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Galloper Gold
Investor Insight
With a huge land package in a resource-rich jurisdiction with significant potential for gold discovery, Galloper Gold makes for an interesting prospect for investors in this continuing gold bull market.
Overview
With just 30 million shares outstanding and a strong treasury, management believes Galloper Gold (CSE:BOOM) is very favorably positioned to unlock the full mineral potential of Newfoundland's under-explored Glover Island at a time of record high gold prices and a bullish copper environment.
Glover Island is in a diverse and rich geological region highlighted by a world-class salt deposit to the southwest, one of the richest VMS districts (Buchans mine) per square kilometer in Canadian history to the east-southeast, and a multi-million ounce gold deposit (Valentine Lake), expected to commence production in 2025 (Calibre Mining), to the southeast.
Galloper believes in a high level of community engagement, not only where it's active with exploration in Newfoundland but also around the rest of the country where the company assists sports organizations and sports-based charities that make a positive difference in the lives of Canadian youth.
Company Highlights
- Galloper Gold was listed on the CSE on March 1, 2024, and is focused on advancing its flagship Glover Island asset in western Newfoundland.
- Glover Island is in a highly favorable geological setting, at the convergence of major fault zones, where there's a known historic gold resource that was defined by dozens of drill holes more than a decade ago.
- Galloper's 133 sq km land package completely surrounds this historic zone and continues along a northeast trend for 36 km, providing investors with leverage to a potential new large-scale gold discovery as the gold bull market intensifies.
- Driven by a management and technical team with successful exploration and production backgrounds, and supported by capital markets expertise, Galloper's "outside the box" thinking helps make the company a unique player in an increasingly selective junior resource sector.
Key Project
Glover Island: Project Quick Facts
Daniel Fernandes checks out with power infrastructure on Glover Island with Galloper CEO Mark Scott.
Location: 24 km SE of Corner Brook.
Size: 133 square kilometer property package extends approximately 36 kms along a northeast trend (up to 6 kms wide) and completely surrounds province-held claims highlighted by historic gold zone.
Geological Setting: In very favorable terrain along the regional Baie-Verte Brompton Line-Cabot Fault Zone, a major boundary between the Humber and Dunnage Zones.
Targeted Deposit Types: Structurally controlled orogenic gold as well as copper-gold-enriched VMS.
Scale Potential: Initial Galloper soil sampling, structural setting and multiple historic showings outline a minimum 7.5-km-long trend featuring favorable host rocks extending north from the province-held historic gold zone. Broad areas of Galloper’s property also exhibit encouraging VMS alteration which adds to Glover Island’s economic potential.
Exploration History: No systematic property-wide exploration program has been carried out on Galloper’s claims due in part to extensive overburden, though this “cover” is known to be relatively thin. The last major operator on the island focused mostly on the historic gold zone (claims now held by the government of Newfoundland and Labrador) from 2010 until early 2012, when work stopped at the onset of the gold bear market. Little exploration activity has occurred on Glover Island since then, until Galloper’s arrival in 2022. Historically, copper values as high as 4.7 percent have been returned from unexplained massive sulphide boulders in the northern part of the island.
The Keystone and Lucky Smoke Showings on Galloper’s claims, located 6 km northeast of the historic gold zone, gave encouraging values from very limited historic drilling while channel sampling by the Newfoundland Geological Survey in 2021 returned 5.9 g/t gold over 9 meters at Lucky Smoke. From limited exploration, a total of 17 mineral occurrences on Galloper’s claims have been documented by the Newfoundland & Labrador Geological Survey’s Mineral Occurrence Data System.
Management Team
Mark Scott - Chief Executive Officer and Director
Mark Scott became Galloper Gold's founding CEO in 2022. As head of Manitoba Operations for Vale Canada's Nickel Division through 2018, he managed a combined OPEX and CAPEX budget of greater than $500 million (USD) including a workforce of approximately 1,875. He has more than 25 years' experience in all phases of surface and underground mining, metallurgical processing, and associated service and support functions.
Rav Mlait - Corporate Secretary and Director
Rav Mlait has extensive experience in managing and raising capital for public and private companies in both the resource and technology sectors. He holds an MBA from Royal Roads University in British Columbia with a specialization in Executive Management and his BA (Economics) from Simon Fraser University. He brings a successful public company background to Galloper as it launches on the CSE.
Bryan Loree - Chief Financial Officer and Director
Bryan Loree has held senior accounting roles for public and private companies in various industries including renewable energy, exploration, and construction. Prior to entering the accounting field, he gained experience as an investor relations manager. He holds a certified accountant designation, a financial management diploma from the British Columbia Institute of Technology, and a BA from Simon Fraser University.
Peter Lauder - Director
Peter Lauder is a senior level mine and exploration geologist with more than 20 years' experience with the likes of Goldcorp, IAMGOLD and BHP Canada in the design, implementation and management of underground and surface exploration projects. He has managed all aspects of mining and exploration projects from early to advanced stage, to full production with emphasis on safety and process-driven exploration leading to successful resource estimation and project development.
Danielle Fernandes - Corporate Communications
Danielle Fernandes is an entrepreneur, philanthropist, activist, speaker and writer, working with clients ranging from large corporations to non-profits. Her diverse background includes sports marketing stints in the NHL, WHL and CFL. She is passionate about plant-based diets and animal advocacy, supporting various charities across Canada.
