Gold Hunter Resources prepares for Great Northern drilling, Newfoundland

Gold Hunter Resources Inc. [CSE-HUNT] has set out its strategic exploration plans for the newly consolidated Great Northern project in Newfoundland, Canada.

Gold Hunter is consolidating and integrating geological data from partner organizations and individuals, government archives, and newly acquired information. The company has engaged the expertise of the Magna Terra Minerals Inc. technical team and Mercator Geological Services of Nova Scotia, both known for their extensive knowledge and records in the region. Mercator Geological Services will complete a National Instrument 43-101 report of the combined project and establish a robust geological database for the entire district.

The company anticipates the detailed database of the district’s geological information to be compiled in the coming weeks. Gold Hunter will commence planning its initial exploration program on this newly consolidated land package, which includes already-defined drill targets in multiple areas, allowing for the commencement of drilling this summer.

Sean A. Kingsley, president and CEO, stated: “We are excited to develop the Great Northern project together with mutual partners. This represents a significant opportunity for Gold Hunter and its shareholders and stakeholders to explore a growing gold district in Newfoundland. Magna Terra has advanced the Great Northern-Viking project to this pivotal stage, and with our consolidation of the Doucer’s Valley fault, we are well positioned to unlock the potential of the area. We aim to release our initial NI 43-101 report, followed by our strategic exploration program plan, for the Great Northern project shortly.”

The Great Northern project is situated near Sops Arm, Pollard’s Point and Jackson’s Arm, Newfoundland. The project encompasses a 40-km section of the Doucer’s Valley fault, a key geological feature known to host numerous gold occurrences, including the Thor and Rattling Brook deposits, the historic Browning mine, and at least 12 mineralized trends throughout the project area. Gold mineralization is hosted in various lithologies, from Precambrian or Ordovician granites, to younger volcanic and sedimentary rocks, typically found along splays off the Doucers Valley fault.

The Doucers Valley fault extends from Ireland to New Brunswick and plays a crucial role in the region’s geology. This fault system, part of a larger network associated with the closing of the Iapetus Ocean, has influenced mineralization patterns across Newfoundland. Multiple reactivation phases of the fault have contributed to the region’s rich mineral deposits, including those on the Great Northern project.

Newfoundland and Labrador ranked ninth out of 86 global jurisdictions for investment attractiveness by the Fraser Institute’s annual survey of mining companies, 2023. The province’s rich prospecting history and existing mineral resources offer a promising foundation for further exploration.

Infrastructure and accessibility: The projects are located in a mining-friendly jurisdiction with excellent infrastructure; accessible year-round, supported by local communities such as Sop’s Arm, Pollard’s Point and Jackson’s Arm.

Existing infrastructure facilitates exploration and any potential future operations; Newfoundland hosts a trained work force, with easy access to consultants and service providers through Gold Hunter’s extensive network and over 20 years of experience in the province;

Early settlers established mining communities in the region, creating a long-standing, supportive environment for mining activities; the local communities are known for their strong backing of mining operations, owing to the rich history of mining in northwestern Newfoundland, which dates back over a century.

Early 20th century mining operations helped shape the economy and infrastructure of the area, making it a stable and welcoming region for new mining ventures.

The company will solely focus on the Great Northern project and has decided to relinquish its Cameron Lake East project. Gold Hunter has returned its 100% interest in the project to EMX Royalty Corp. for zero consideration, ensuring that EMX Royalty will keep the project in good standing.

In April, 2024, the company finalized a pivotal share purchase and sale agreement with FireFly Metals Ltd., resulting in FireFly acquiring Gold Hunter’s subsidiary in exchange for 30,290,624 common shares of FireFly Metals, with a closing value at $18.28-million and today’s value of approximately $23-million. A substantial 82.84 per cent of these shares were directly distributed to Gold Hunter shareholders as a dividend, significantly enhancing shareholder value.

In May 2024, Gold Hunter executed several strategic agreements to consolidate an underdeveloped gold district in Newfoundland. This strategic consolidation aligns with the company’s vision to continuously build shareholder value by capitalizing on high-potential, underexplored mineral assets.