Galloper Gold posts new 2026 Mineral Resource Estimate for LPSE Deposit, Glover Island, Newfoundland
Galloper Gold Corp. [CSE: BOOM; OTC Pink: GGDCF] reported a 2026 updated NI 43-101 compliant Mineral Resource Estimate (MRE) of its 100%-owned and controlled Lunch Pond South Extension (LPSE) Deposit, Newfoundland.
The LPSE 2026 Gold Mineral Resource Estimate was undertaken using a gold price of US$3,500/oz with a conversion rate of $0.72 USD to $1.00 CAD, 95% process recovery, C$32/t process cost, C$5/t G&A cost and C$3/t open pit mining cost.
Indicated Mineral Resources increased by 2.095 Mt, 62 koz Au and Inferred Mineral Resources increased by 4.616 Mt, 99 koz Au in the latest update.
The Mineral Resource model has changed significantly via geological and engineering modelling, with the assumed higher gold price and costs to constrain the Mineral Resources and a lower cut-off. The grade estimate was undertaken with LeapfrogTM wireframes based on drill hole assays >0.25 g/t Au, capped composites, variography, 2.5 m x 2.5 m x 2.5 m block model and a NPV SchedulerTM optimized pit shell.
The Glover Island Property covers an area of 116.6km2 and contains the LPSE 2026 Gold Mineral Resource. Gold Indicated and Inferred Mineral Resources in the LPSE Mineral Resource were delineated for Galloper Gold Corp. and are stated at a 0.25 g/t Au cut-off pit-constrained Indicated Mineral Resource of 3.124 Mt at 1.20 g/t Au and a 0.25 g/t Au cut-off pit-constrained Inferred Mineral Resource of 6.692 Mt at 1.02 g/t Au.
Galloper Gold’s CEO, Hratch Jabrayan, has highlighted: “The LPSE 2026 Gold Mineral Resource Estimate reflects new insights and thinking on geological interpretation coupled with a buoyed gold price in today’s markets. Through this, the engineering parameters have been updated to produce a significant upgrade to the LPSE Mineral Resource Estimate. This repositions Galloper Gold Corp. with a significantly increased asset assessment and aligns the company with a modern disclosure to be consistent with global-mineral-developer’s trends of Mineral Resource assessments.”
The LPSE Deposit is located at the south-western portion of an 11 km mineralized corridor known as the Glover Island Trend (GIT). This prospective GIT is host to 17 gold, base metal, nickel, and polymetallic minerals prospects. In addition, numerous gold anomalies cross several rock types adjacent to a major tectono-structural break known as the Cabot Fault. Adding to the prospectivity of the GIT, The Ming Mine, Tilt Cove Mines, Nugget Pond Mine, and Pine Cove Mine are situated strike-north proximal to this fault on the Baie Verte Peninsula showing the prolific mineralized nature of this major structure on which the Glover Island Property sits.
P&E Mining Consultants Inc., which performed the Mineral Resource modelling, are independent Qualified Persons and have prepared the updated MRE within the parameters of the NI 43-101 Standards of Disclosure for Mineral Projects.
Galloper Gold is focused on mineral exploration in central Newfoundland on its Glover Island exploration project. The property comprises 466 mining claims on 13 mineral licences covering 116.6 km2 (11,660 Ha). Historical exploration efforts produced the 2017 LPSE Resource and the LPSE 2026 Gold Resource which is wholly controlled by Galloper Gold.