Gander Gold samples up to 5.94 g/t gold at BLT Project, Newfoundland

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Gander Gold Corp. [GAND-CSE; GANDF-OTCQB] reported high-grade gold-in-soil results from the company’s 287-km2 BLT (Botwood-Laurenceton-Thwart Island) project in Newfoundland, particularly from the newly identified Islander zone covering a central portion of Thwart Island in the Bay of Exploits.

Highlights: First-ever soil samples at BLT project define Islander zone measuring 1,400 metres by 400 metres based on 845 samples; 5.94 g/t gold (Au) (5,939.5 parts per billion (ppb)) from the Islander zone is the highest grade soil sample result across any of Gander’s eight Newfoundland projects and 38,941 total soil samples taken in 2021/2022. Gold-in-soil zone at Islander is coincident with very anomalous arsenic-in-soil, which is consistently present across the interpreted strike of the Islander zone.

The Gander gold field season begins in May, which will lead toward first-ever diamond drilling at the BLT project. In addition to BLT, Gander has also made important progress at its flagship Gander North project, Mount Peyton and Cape Ray II properties, with additional exploration updates expected over the coming weeks.

Eric Sprott is Gander Gold’s largest individual investor (11.6%) after Sassy Gold (38.6%).

Additional BLT highlights: Gander took 5,795 B- and C-horizon soil samples (including field duplicates) across the BLT project, with 18 of these samples, including seven in the 1,400-metre by 400-metre zone on Thwart Island, returning very high values, over 99.8 ppb gold, including three over 1,000 ppb Au (one g/t Au).

The presence and orientation of major faults and folds occurring within the BLT project suggest good potential for mesothermal Au mineralization. A moderate to strong antimony (Sb) correlation occurs with Au/As (arsenic) in soil (As and Sb are both key minerals associated with Au mineralization in Newfoundland).

Ian Fraser, PGeo, vice-president of exploration for Gander Gold, commented: “We continue to generate outstanding soil sampling results in the context of Newfoundland, consistent with what has been observed at New Found Gold’s Queensway project and Labrador Gold’s Kingsway project. Most notably, from among the almost 39,000 soil samples taken by Gander over the last two seasons, the highest-grade gold-in-soil result to date is found right in the heart of the newly named Islander zone on Thwart Island.”

Fraser added, “We’re excited to follow up on the Islander zone with early-season prospecting and mapping to better define 2023 drill targets there, along with target definition for Gander’s first-ever drill programs in 2023 at the Gander North and Mount Peyton projects. The number of significant soil anomalies identified to date by the company, across multiple project areas, continues to build the potential for significant drill discoveries in 2023 and beyond.”

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