Gander Gold drilling Newfoundland projects

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Gander Gold Corp. [GAND-CSE; GANDF-OTCQB] has started its first-ever drilling in Newfoundland. For the past two years the company has systematically and methodically advanced an attractive pipeline of grassroots gold properties across a dominant land position of 2,259 km2, offering compelling high-grade discovery potential.

Highlights: Gander has commenced a planned 70-hole rotary air blast (RAB) drill program across four major projects beginning with the 485 km2 Gander North project, 15 km east of New Found Gold’s Keats zone discovery;

Gander North and Mt. Peyton are fully permitted for both preliminary air blast (RAB) drilling and follow-up diamond drilling. BLT and Cape Ray II drill permits are pending.

In total, across its eight Central Newfoundland gold belt projects, Gander Gold has outlined more than 100 linear km of potential strike along which gold-in-soil geochemistry anomalies are overlain on top of identified geophysical anomalies.

Mark Scott, CEO, commented: “We are very pleased with the abundance of drill targets which have emerged from our two-year greenfield exploration program that included a Newfoundland-best 40,000 soil samples. Two thousand twenty-three will see first-ever drill testing of many of these targets, and will be an exciting time for the company and its shareholders in the midst of a robust gold market. We look forward to realizing Gander Gold’s significant discovery potential in the Central Newfoundland gold belt and maximizing value for shareholders.”

The RAB drill program over the next few months at Gander North, Mt. Peyton, Thwart Island and Cape Ray II will provide first-ever testing of the bedrock and structural environments overlain by significant soil geochemistry anomalies.

Data gathered from daily XRF (X-ray fluorescence) measurements and in-hole televiewer will help guide the program and prioritize targets for follow-up diamond drilling. Geological mapping, prospecting, ground VLF (very low frequency)-magnetic geophysical surveys, and ground penetrating radar (GPR) surveys are being employed ahead of drilling, as required, to optimize target definition.

Drilling has started in the Viking area of Gander North where VLF surveys have outlined conductive structures underneath extensive soil anomalies.

The company has entered into an arm’s-length marketing agreement effective May 15, 2023, with 11636952 Canada Inc. (operating as Business Financial Network, Roger Choudhury) of North York, Ontario, Canada, to provide digital consulting and marketing services for three months. The company has paid the consultant a lump sum of $300,000 (plus GST) for the procurement of digital marketing materials, advertising and services, and will pay the consultant a monthly sum of $5,000 (plus GST) for its direct provision of services.

Gander Gold is one of the island’s largest claimholders targeting new high-grade gold discoveries with a current focus on the large Gander North, Mount Peyton, BLT (Botwood-Laurenceton-Thwart Island) and Cape Ray II projects, where there has been very promising early exploration success. Other opportunities advancing through the pipeline are Carmanville, Gander South, Little River and Hermitage.

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