In a news release, Gatling Exploration Inc. (GTR:TSX.V; GATGF:OTCQX), which is focused on its wholly owned, high-grade Larder Gold Project in Ontario's Abitibi Greenstone Belt, announced that "its ongoing drill program at Larder has added significant value leading up to its mineral resource estimate in Q3/21."
The company indicated that at the Bear Deposit it intersected new high-grade intersections of gold that now show that the core of the deposit plunges 150m further upward, which verifies that there is continuity from the core of the deposit to the previously identified near-surface mineralized zones. Gatling advised that at Bear, hole GTR-21-127 intersected 5.0m of 6.6 g/t Au and hole GTR-21-132 intercepted 17.0 m of 7.7 g/t Au, including 4.0m of 25.3 g/t Au with visible gold.
Gatling noted that that the discovery of the up plunge from core of the Bear Deposit to surface gold mineralization is highly prospective and is very similar to what was observed at its Fernland and Cheminis deposits.
The company stated that the recent drill results at Bear are expected to add significant value to the deposit's upcoming resource report. The firm noted that connecting and filling in a large gap across several previously drilled holes was an outstanding accomplishment that will add significant ounces and tonnes to the Bear resource.
Gatling stated that it conducted 13,500m of drilling at its Fernland Deposit targeting near-surface gold mineralization and added that recent drilling results returned from all three zones exhibit potential for increasing open pit and underground resources.
The firm explained that the drill program at Fernland successfully identified three new mineralized zones starting from surface to a drill depth of abound 250m. Drill results at Fernland returned 200.7m of 1.5 g/t Au, including 23.7 of 6.1 g/t Au, which the firm said would be incorporated into Fernland's initial resource estimate.
The company advised that it is proceeding to the resource update phase at its Fernland Deposit after having completed more than 60,000m of drilling during the last two and a half years across all three of its high-grade gold deposits. The firm said it intends to combine this data with 70,000m of historical drilling data to provide supporting documentation for Fernland's initial resource estimate scheduled for completion in Q3/21.
The company's President and CEO Jason Billan remarked, "The 25,000m exploration program outlined at the beginning of the year is nearly 90% complete and has continued to deliver impressive results across the Fernland and now Bear deposits, which bode well for the upcoming mineral resource estimate at the Larder project. . .Fernland continues to grow in size following the completion of its drill program, demonstrating further upside at depth and beneath a potential starter pit. We look forward to updating the market during a catalyst-rich second half of the year for the company."
Gatling listed that there is substantial additional upside potential at the Larder Gold Project in the Swansea Zone, an area that has so far been greatly underexplored. The company said it is working on permitting and plans to commence exploration there early next year. Gatling also intends to investigate the Bear East area extension, which they see as an excellent target to further grow the resource. The firm added that it is continuing exploration at Kir Vit North and believes that the entire northern portion of Kir Vit may be highly prospective.
Gatling's V.P. of Exploration, Nathan Tribble, explained, "These recent results from the ongoing drill program at the Bear deposit are very significant in connecting the high-grade core of the deposit to lenses identified in our 2019 drill campaign by tracking the plunging mineralized zones. It is expected that these latest holes will add a large amount of volume and ounces to our upcoming resource update as the gap prior to these drill holes was 300m in strike and 150 vertically."
Gatling Exploration is a Canadian gold exploration company based in Vancouver, B.C. The firm stated that its efforts are concentrated on advancing its 100% owned, 3,370-hectare Larder Gold Project located in the heart of northern Ontario's prolific Abitibi Greenstone Belt. Larder hosts three high-grade gold deposits along the Cadillac-Larder Lake Break. The company mentioned that the property—which is accessible by truck or all-terrain vehicle—lies about 7km west of the Kerr Addison Mine, which historically has produced 11 Moz Au.
[NLINSERT]
Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this interview are billboard sponsors of Streetwise Reports: Gatling Exploration Inc. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
