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Galloper Gold Corp. (CSE:BOOM)(OTC PINK:GGDCF)(Frankfurt:W9F) (the "Company" or "Galloper") is pleased to announce that Phase 1 diamond drilling has commenced at the Company's Glover Island Project where Galloper's 100%-owned claims cover most of the 40-km-long under-explored Island situated in the prolific "Four Corners" region of Western Newfoundland featuring major deposits of gold, copper and salt
Galloper's initial drilling is targeting a significant expansion of the known orogenic gold system at Glover Island, while a potential new discovery is emerging adjacent to the gold trend on the western side of the Island where a multi-kilometre-long copper anomaly has been identified through recent Galloper soil sampling combined with an historic VTEM Survey.
Highlights:
Diamond drilling has started 6 km north of the known historic gold deposit at Glover Island in an area known as "Lucky Smoke" where limited previous exploration has occurred;
Lucky Smoke is one of multiple gold showings at Glover Island where a contact zone, highly favorable for gold deposition, continues along a minimum 12-km trend;
The copper anomaly is in an area of Glover Island never previously explored due to very limited outcrop. Prospecting and mapping are following up on recent soil samples and an historic (2008) VTEM Survey. More information on this early-stage prospect will be provided in the near future once more data is received and interpreted.
Mr. Hratch Jabrayan, Galloper CEO, commented: "Glover Island represents compelling new discovery opportunities well beyond the known historic deposit defined more than a dozen years ago, so we're excited to begin the drilling phase of our work there. Most of Glover Island has never been systematically explored as evidenced by the copper anomaly we've uncovered on the western side of the Island. The convergence of major faults at Glover Island and the widespread presence of ‘the right rocks' is an excellent recipe for a potential large-scale system consistent with what has been observed elsewhere in this ‘Four Corners' region of Western Newfoundland."
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 1 - "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.
Phase 1 Diamond Drilling
Galloper's initial drilling at Glover Island is focusing on the Lucky Smoke Showing which resides in the Kettle Pond Formation, approximately 6 km down strike of the known Lunch Pond deposit contiguous to Galloper's claims. Drilling at Lucky Smoke is aimed at confirming and extending both to depth and along strike the gold occurrences identified from limited historic drilling and trenches in this area.
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
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
