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Galloper Gold Corp. (CSE: BOOM,OTC:GGDCF) (OTC Pink: GGDCF) (the "Company" or "Galloper") announces that it has completed its acquisition (the "Acquisition") of additional exploration mineral licences (claims) in Newfoundland as part of its continued exploration efforts pursuant to the purchase agreement (the "Agreement") entered into with a third- party vendor (the "Vendor").
Highlights include:
The Acquisition adds known significant mineralization at surface with potential at depth and along strike to the holdings of Galloper Gold's Glover Island property.
Surficial trenching values of up to 11.5g/t Au in channel sampling have been collected from historic exploration campaigns at Keystone and Jacomar prospects.
Increase in mineralized strike length of the Lucky Smoke prospect by 400m with addition of the Vendor mineral licence; Lucky Smoke was drilled in 2024 intersecting significant results up to 18.79g/t Au in drill core.
Galloper Gold's mineral lands holdings on Glover Island cover 122km2.
Favorable geological continuity along strike and down dip in the mineralized body that comprises Tomahawk-Lucky Smoke-Keystone-Jacomar mineralized corridor.
Pursuant to the Agreement, Galloper has agreed to purchase from the Vendor four (4) claims in one (1) mineral licence on Glover Island in Newfoundland adjacent to its existing mineral licences. As compensation, Galloper has issued the Vendor a lump sum payment and a NSR of 1% with a $250,000 buyback provision.
Galloper Gold's CEO, Mr. Hratch Jabrayan, commented: "The acquisition of the historic mineral claims hosting the Keystone and Jacomar prospects adds significant value to the company. The known surficial mineralization of Galloper Gold's Lucky Smoke deposit on Glover Island has been extended by 400m. Further, the mineralization is of the same character and is geologically connected in the same rocks that host the 178,800oz Au, 43-101-compliant, Lunch Pond South Extension resource which Galloper Gold was awarded by the Government of Newfoundland and Labrador in July of this year. Galloper continues to be a breakout player in the gold and base metals sector capitalizing on exciting opportunities to deliver increasing shareholder value."
About Galloper Gold Corp.
Galloper is focused on mineral exploration on Glover Island for gold and base metals. The Glover Island Property consists of 477 claims in 15 mineral licences totaling 12,200 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
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268424
