Gladiator Announces Significant Copper Skarn Mineralization Intersected at Best Chance
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2024) - Gladiator Metals Corp. (TSXV: GLAD) (OTCQB: GDTRF) (FSE: ZX7) ("Gladiator" or the "Company") is pleased to provide an update on the progress of its planned 13,000m drilling programme at the Whitehorse Copper Project. Planned drilling has now been completed at the Best Chance, Arctic Chief & Cowley Park Prospects, with the rig currently drilling at Cub trend. The rig is planned to complete drilling shortly at Cub Trend before relocating back to Cowley Park to follow up on recent successful drilling announced 3rd of October, 2024.
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Gladiator completed a scout drill programme on the 10th October (7 holes for 1,295m) at the Best Chance prospect, where broad widths of mineralized skarn were intersected in holes ACG-007 & ACG-007D2, these holes are to be submitted for assaying this week.
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Drilling recently relocated to the Cub trend, where the Company completed 5 lines of an Induced Polarisation Survey (IP) over the Black Cub and Gem prospects focused on:
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Extensions to the open cut pit at Black Cub South, and previously unmined mineralization less than 150 metres to the north and northeast of the historic Black Cub South pit where historic drilling returned 30.51m @ 1.2% Cu from 22.16m (BC-015)
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Mineralization identified in historic drilling at Gem, including 16.61m @ 2.59% Cu from 76.05m (G-011) and 24.99m @ 1.4% Cu from 23.93m
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Gladiator looks forward to continuing updating the market with assay results from recent drilling at Cowley Park (28 holes), Arctic Chief and Best Chance in the coming weeks. The Company has accelerated the cutting and processing of diamond core from Best Chance.
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Drilling is part of Gladiator's dual strategy of advancing Cowley Park toward resource definition and targeting the upside potential of the known mineralization. Gladiator looks forward to updating the market with results from the remaining 28 of 32 completed drill holes in the coming weeks.
Gladiator CEO, Jason Bontempo commented:
"Our maiden drill programs at Best Chance and Arctic Chief to date are showing broad widths of skarn mineralization which continue to validate the prospectivity of the 35km long Whitehorse Copper Belt, delivering multiple prospects for potential future resource growth. We now look forward to assay results to help plan much anticipated follow-up drill programs at the Best Chance and Arctic Chief prospects."
Figure 1: Whitehorse Copper Project - Prospect Locations. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/1930/226632_d9bc3184c424d9bb_002full.jpg
ABOUT GLADIATOR METALS
Gladiator Metals Corp. is a Canadian high grade copper mineral exploration company focused on the advancement of the Whitehorse Copper Project (the "Project"), a previously producing 35km strike high-grade, near-surface copper (Cu) ± molybdenum (Mo) ± silver (Ag) ± gold (Au) skarn belt in Yukon, Canada.
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Previously producing 35km strike skarn copper belt.
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Targeting Significant high-grade copper resources.
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Focused on multiple advanced near-surface, high-grade copper prospects.
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Under-explored territory; highly leveraged to further exploration and discovery.
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Existing road access, hydro power, rail transport and local labour.
Multiple high-grade prospects along the 35km long Whitehorse Copper belt which runs along the western margin of Whitehorse, Yukon, providing a major infrastructure advantage.
The most advanced copper prospects include:
Cowley Park - Cornerstone prospect, 300+ holes historic and current drilled: High-grade copper-molybdenum mineralization over ~700 m strike, 1.5% - 2%+ average grades, broad widths, open in all directions;
Chiefs Trend (Middle Chief & Little Chief): Shallow, high-grade copper-gold mineralization;
Arctic Chief Trend (including Best Chance and Grafter): Prospective high-grade zones of copper-gold mineralization; and
Cub Trend (including Gem, Keewenaw, Black Cub South): High-grade copper mineralization identified.
Gladiator Metals Corp current shares on Issue: 60m (73m fully diluted) and fully funded with $8m in cash.
QA / QC
Where Copper Equivalents have been stated, Assumptions of the pricing are referenced in the tabulated results and determined grade equivalents as ratios take reasonable assumptions for recovery from a similar deposit-type into account.
The following equation was used to calculate copper equivalence:
Copper Equivalent (CuEq) = ((Cu% * CuPrice 1% Per Tonne) + (Au (g/t) x (AuPrice/31.105)) + (Ag (g/t) x (AgPrice/31.105)) +(Mo% * MoPrice 1% Per Tonne)) / CuPrice 1% Per Tonne
Drilling completed by Gladiator was irregularly spaced to test parts of the mineralised systems, holes were directionally surveyed utilising a North Seeking Gyro direction tool. Drill collars were being subsequently surveyed utilising a high-accuracy RTK DGPS system.
Upon drilling of diamond core, Gladiator undertakes geological logging, marking up of lineal length of the core, recording core recovery, and Geotech measurements such as RQD's and taking core photographs.
Based on the geological logging, core is then marked up for sampling with a new sampling ticket that matches the submitted sample for analysis at the start of the sample interval, the drill core is then cut in half utilizing a core saw equipped with a diamond saw blade. The core samples are then sent for analysis and the remaining half core retained for future reference. Certified Reference Materials (CRMs) or known blank material is placed within the sampling sequence at a nominal sampling rate of 1 in 25 samples to monitor the Laboratory. Samples are submitted to the ALS Global laboratory (Canada).
As part of the processing and capturing of the previously unassayed drill core, Gladiator is undertaking a systematic review of the available drill core after being retrieved from storage. This includes a review of the geological logging, marking up of lineal length of the core, undertaking a comparison of the physical ticketed sampling against historic documentation where noted, remarking any notations on the core box (including hole number, box number and nominal depths) and taking core photographs.
After the systematic review, if the core is required to be sampled or resampled where it is deemed to not match the historical record of the hole, it is then marked up for sampling with a new sampling ticket that matches the submitted sample for analysis at the start of the sample interval, the drill core is then cut in half (for un-cut core) or quartered (for resampled core where required) utilizing a core saw equipped with a diamond saw blade. The core samples are then sent for analysis and the remaining half (or quarter core) retained for future reference. Certified Reference Materials (CRMs) or known blank material is placed within the sampling sequence at a nominal sampling rate of 1 in 25 samples to monitor the laboratory. Samples are submitted to the ALS Global laboratory (Canada).
Samples subject to this release were crushed to 70% less than 2mm before pulverizing to better than 85% passing 75 microns. Samples were then analysed by ALS method ME-ICP61 (Aqua Regia with ICP-MS finish), with over limits for Cu analysed by method CU-OG62 (Aqua Regia with ICP-MS finish). As part of this process, Gladiator also captures the required sampling metadata to potentially utilize the core and analysis for any future requirements if deemed acceptable. The QA/QC meets the current required standards under reporting instruments, such as NI-43-101. At this point, Gladiator regards the data collected from this exercise as reliable for the purposes of identifying future exploration targets and may be used to inform future drilling and exploration campaigns.
As part of this process, Gladiator also captures the required sampling metadata to potentially utilize the core and analysis for any future requirements if deemed acceptable. Further drilling will need to be completed by Gladiator at some stage to confirm the reliability or usability of this data in the future including but not limited to twinning of reported mineralization. This may be required as Gladiator may not be able to confirm the accuracy of the stated drill collar location or be able to re-enter the holes to confirm depths and undertake directional surveys, or that the QA/QC might not meet the current required standards under reporting instruments, such as NI-43-101. At this point the Company is treating the data collected from this exercise as reliable for the purposes of identifying future exploration targets and may be used to inform future drilling and exploration campaigns.
In reference to historic drill results reported in this news release from the Company's data compilation exercise, these results are historical in nature. Gladiator has not undertaken any independent investigation, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The Company believes that the historical drill results currently do not conform to presently accepted industry standards. Gladiator considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration and drilling programs. The Company also considers the data to be reliable for these purposes, however, the Company's future exploration work will include verification of the data through drilling. Please refer to the Company's previous news releases regarding Cowley Park for further details.
Qualified Person
All scientific and technical information in this news release has been prepared or reviewed and approved by Kell Nielsen, the Company's Vice President Exploration, a "qualified person" as defined by NI 43-101.
ON BEHALF OF THE BOARD
"Jason Bontempo" Jason Bontempo CEO
For further information contact: Caitlin Cheadle, Investor Relations +1-778-403-5139
ccheadle@gladiatormetals.com
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This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Certain of the statements and information in this news release constitute "forward-looking statements" or "forward-looking information". Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) that are not statements of historical fact may be forward-looking statements or information.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company's properties; the effect of changes in commodity prices; regulatory risks that development of the Company's material properties will not be acceptable for social, environmental or other reasons; availability of equipment (including drills) and personnel to carry out work programs; and that each stage of work will be completed within expected time frames. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
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SOURCE Gladiator Metals Corp.
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