Gander Gold updates Gander North Project, Newfoundland

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Gander Gold Corp. [CSE-GAND; OTCQB-GANDF] provided an exploration update on its Gander North Project in Newfoundland where 28 rotary air blast (RAB) drill holes, an exploration tool designed to prioritize first-ever diamond drilling targets, were completed in 2023.

Highlights: Anomalous to significant gold mineralization was encountered in eight of 11 RAB holes completed on the western side of Gander North with five of these holes also intersecting mafic-ultramafic rock associated with the GRUB Line.

Anomalous mineralization was encountered in 14 of the 17 RAB holes completed on the eastern side of Gander North. This initial round of RAB drilling on each side of Gander North tested only five of 14 large soil geochemistry anomalies identified at this large-scale project to date.

Results warrant additional follow-up exploration at these five anomalies ahead of potential diamond drilling. An exploration plan for the remaining nine large soil geochemistry anomalies is being finalized.

Mark Scott, President and CEO, commented: “The immense size of the grassroots Gander North Project requires a very systematic approach to determine initial diamond drilling targets with the highest probability for success. We’re very pleased with these early results, especially on the western side of Gander North where very anomalous gold mineralization was encountered at depth and along strike of the Jonathan’s Third Pond Copper Showing.

“With Gander North still at a very promising early stage, and some breakthroughs at Lizard Pond and Thwart Island, and Mount Peyton and Cape Ray II yet to be RAB-tested, we have much to look forward to in terms of discovery potential across one of the largest overall land packages in Newfoundland that still awaits initial diamond drilling,” Scott concluded.

Gander Gold completed a total of 34 RAB drill holes across its Newfoundland properties in 2023 including three at Lizard Pond (Gander South) where diamond drill targets have been outlined after 1 RAB hole cut 13.7 metres grading 1.06 g/t gold starting from surface.

Some Gander North RAB drill results include hole GNORAB that returned 19.81 metres of 91.62 ppb gold, including 4.58 metres of 188.33 ppb gold. GNORAB-002 returned 9.14 metres of 150.5 g/t gold, including 4.57 metres of 271.00 ppb gold.

GNORAB-003 returned 4.55 metres of 15.67 g/t gold and 640.33 ppm copper. GNORAB-004 returned 12.19 metres of 17.06 ppb gold and 259.46 ppm copper. GNORAB-005 returned 3.04 metres of 26.00 g/t gold.

GNORAB-009 returned 7.62 metres of 98.20 g/t gold and 576.22 ppm copper, including 1.52 metres of 4.52 g/t gold and 838.00 ppm copper. There were numerous other encouraging drill results. Refer to original release for complete assays.

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 and BLT (Botwood-Laurenceton-Thwart Island) projects where there has been promising early exploration success. Other opportunities advancing through the pipeline are Cape Ray II, Carmanville, Gander South, Little River and Hermitage.

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