High-Grade Copper Discoveries Continue with Promising Drill Results at Yukon Prospect

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Gladiator Metals Corp. (GLAD:TSX; GDTRF:OTC) has provided an update on its ongoing exploration activities at the Cowley Park prospect within the Whitehorse Copper Belt in Yukon, Canada. Recent assay results from 32 diamond drill holes totaling 5,623 meters have returned promising indications of high-grade copper skarn mineralization. The company reported notable intersections, including 10.8 meters grading 4.31% copper equivalent (CuEq) within 45 meters at 1.76% CuEq and 8 meters grading 3.72% CuEq within 109.77 meters at 1.05% CuEq.

Highlights From The News Release:

• Gladiator has completed a further 32 diamond drill holes for 5,623m at the Cowley Park Prospect (“Cowley Park”) on the Whitehorse Copper Belt, targeting extensions to high-grade Copper Skarn mineralization.
• Assay results have now been received for four shallow holes. Results include:

• CPG-035: 8m at 2.57% Cu and 0.15% Mo (3.72%CuEq) from 8m plus 14m at 1.31% Cu (1.57% CuEq) from 72m within109.77m at 0.77% Cu (1.05% CuEq) from 4.23m
• CPG-032: 30m at 1.48% Cu and 0.13% Mo (1.72%CuEq) from 56m within 48m at 1.08% Cu (1.72% CuEq) from 38m
• CPG-031: 8m at 1.48% Cu and 0.13% Mo (2.40% CuEq)from 87m within 52m at 0.74% Cu (1.08% CuEq) from 77m
• CPG-034: 6m at 2.42% (3.15%CuEq) from 9m within 14m at 1.22% Cu (1.60% CuEq) from 7m

• In addition, recent sampling of previously unassayed or partially assayed historical drill core from Cowley Park completed prior to the current diamond drill campaign returned significant intervals:

• CP-140: 10.80m at 3.64% Cu (4.31% CuEq) from 35.2m within 45m at 1.36% Cu (1.76% CuEq) from 29m
• CP-145: 38m at 1.10% Cu (1.61% CuEq) from 23m
• CP-147: 11.90m at 1.05% Cu (1.13% CuEq) from 60.85m
• CP-150: 17.18m at 1.00% Cu (1.25% CuEq) from 86.94m and 9m at 1.05% Cu (1.59% CuEq) from 112m

• Copper and molybdenum mineralization at Cowley Park remains open along strike and down dip in all directions. These assay results continue to demonstrate the continuity of near-surface, high-grade copper mineralization at Cowley Park and support the economic potential of complimentary co-products to copper mineralization, including molybdenum, gold, and silver.

• This drilling is part of Gladiator’s dual strategy of advancing Cowley Park towards resource definition and targeting the upside potential of the known mineralization. Gladiator looks forward to updating the market with results from the remaining 28 completed drill holes in the coming weeks.

Gladiator CEO Jason Bontempo commented in the company press release, "These assay results continue to define the near-surface continuity and scale of high-grade copper skarn mineralization at Cowley Park. Importantly, we are also seeing significant molybdenum, gold, and silver credits, which materially enhance the project’s economic potential." The drilling results continue to expand the company's understanding of the resource potential at Cowley Park, with mineralization remaining open in all directions.

An Eye on Copper

According to Watcher.Guru on September 25, copper prices saw a sharp increase following the Federal Reserve's announcement of a 50 basis point interest rate cut. The report highlighted that copper prices rose from US$9,200 to US$9,600 within a week, attracting bullish sentiment in the commodity markets.

The article further noted that copper has surged 13.3% year-to-date, marking it as one of the top-performing commodities in 2024. Analyst Tianyu was quoted stating, "I expect copper demand and price to improve in the fourth quarter," indicating that copper prices could continue to rise by the end of the year.

In an August 2024 report, Connor Mackay of Ventum Capital Markets highlighted the strong geological potential of Gladiator Metals' Whitehorse Copper Project.

News Security Beat emphasized the critical role of minerals like copper in an August 20 report, stating that the soaring demand for such minerals presents a significant challenge for policymakers and analysts globally. It was also noted that junior miners while being pioneers in the field, face financial constraints in their exploration efforts.

The article called for increased funding from governments, traders, and major miners, suggesting that the U.S. government, in particular, should expand grants to support domestic mineral exploration and development.

On September 16, E&E News by Politico reported on the growing importance of copper, particularly in industries such as stainless steel production and electric vehicle (EV) batteries. The Eagle Mine in the U.S., a major source of nickel and copper, was cited as playing a key role in feeding the global demand for these materials. 

Company Catalysts Section:

Gladiator's exploration strategy continues to focus on expanding the resource base at Cowley Park and other prospects within the Whitehorse Copper Belt. The recently completed 5,623-meter drilling campaign at Cowley Park marks a significant step toward resource definition.

The company anticipates receiving assay results from the remaining 28 drill holes in the coming weeks. Gladiator’s focus on near-surface, high-grade copper skarn mineralization with valuable co-products like molybdenum, gold, and silver is a core component of its growth strategy.

In its September 2024 investor presentation, Gladiator highlighted its target to define more than 20 million tonnes of resources grading over 1.5% CuEq, positioning itself for significant resource growth in the coming years.

Strong Geological Potential

In an August 2024 report, Connor Mackay of Ventum Capital Markets highlighted the strong geological potential of Gladiator Metals' Whitehorse Copper Project.

He noted, “The high grades intersected by drilling to date, coupled with semi-massive copper sulphides observed in outcrops that form several +2 km long trends of mineralization, indicate strong geological potential for the Whitehorse project to host one or more significant deposits.” Mackay emphasized the two-pronged exploration and resource development approach taken by Gladiator, which he believed could double the company's chances for value creation.

While Ventum Capital Markets did not provide a formal rating or price target, Mackay pointed to the company's focus on high-grade copper skarn mineralization and highlighted examples of positive drill results, such as CPG-002 (113 meters grading 0.79% Cu and 464 ppm Mo from 19 meters) and CPG-006 (92 meters grading 0.71% Cu from 67 meters). Mackay also noted that historical drill data may have previously understated the potential of Cowley Park, Gladiator’s primary focus for a maiden resource estimate by the end of 2025.

Ownership and Share Structure

According to Reuters, 15.96% of Gladiator Metal's stock is held by management and insiders. Howard Coyne owns the most with 10.50%. Director Darren Devine has 1.34%, Director Shawn Khunkhun has 1.67%. CEO and Director Jason Bontempo has 1.47%. Director Ian Harris has 0.77%. Institutions hold 4.25%.

The rest is held by retail investors. 

According to Market Watch, as of October 3, Gladiator Metals had a market cap of US$14.8 million, CA$19.95 million (on Canadian ticker), with 46.4 million common shares outstanding. It trades in the 52-week range between US$0.1679 and US$0.4600, CA$0.26 and CA$0.51.