VANCOUVER, BC / ACCESSWIRE / November 13, 2024 / Galloper Gold Corp. (CSE:BOOM)(OTC PINK:GGDCF)(Frankfurt:W9F) (the "Company" or "Galloper") is pleased to announce that the Company's first-ever drilling at Glover Island is expected to significantly extend the known gold mineralization, both laterally and at depth, at the Lucky Smoke occurrence where only limited historical exploration has occurred.
Lucky Smoke is located approximately 6 km north of the historic Lunch Pond deposit on the nearly 40-km-long island in the heart of Western Newfoundland's "Four Corners" mining region (see map further below, Figure 2).
Galloper's Phase 1 program was the first diamond drilling on Glover Island since 2012. Detailed analysis of the drill core and all data from the 6 holes completed at Lucky Smoke, including a downhole probe, are expected to greatly enhance the Company's understanding of the gold potential of the broader island. Most of the 122 historic (1985-2012) diamond drill holes at Glover Island (Conliffe, Geology and Mineral Potential of the Glover Island/Grand Lake Area, 2021) were relatively shallow and confined to a small area with outcrop on the southern part of the island.
Mr. Hratch Jabrayan, Galloper CEO, commented: "The potential scale of Glover Island, and the opportunity for multiple orogenic-style gold deposits, is evident from visual analysis of the drill core at Lucky Smoke which compares favorably with the Lunch Pond deposit 6 km to the south along a northeast-trending contact zone that continues for at least 12 km.
"Galloper owns most of the claims on the island, though not the historic gold deposit at this time or the claims immediately adjacent to it (held by the Newfoundland government). We're eagerly anticipating assay results for Lucky Smoke which will help us design a major drilling and exploration campaign for 2025. Much of Glover Island has never been systematically explored for its gold and copper potential."
Figure 1 - Representative Lucky Smoke Drill Core
Section of Galloper drill core from LS-24-06 (129.85 m to 145.95 m) - part of a 50-m true thickness alteration zone with quartz-pyrite veins cutting through a favorable felsic unit associated with gold mineralization elsewhere on the island (historic deposit 6 km to the south).
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
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62 km south is Caliber Gold's multi-million ounce Valentine Gold mine slated for production beginning in 2025;
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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;
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82 km southwest is Atlas Salt's world class Great Atlantic Salt Project advancing toward the construction phase.
Figure 2 - "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.
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
Figure 3 - 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.
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