Vancouver, British Columbia--(Newsfile Corp. - April 27, 2023) - Gladiator Metals Corp. (TSXV: GLAD) (OTC Pink: GDTRF) (FSE: ZX7) ("Gladiator" or the "Company"), a mineral exploration company focused on the advancement of multiple high-grade copper prospects in Canada's Whitehorse Copper Belt, is pleased to announce that drilling has commenced at the Whitehorse Copper Project.
Gladiator has received assays results for two sampled holes drilled at the Cowley Park prospect with results including:
18-CP-04: 12.5m @ 8.02% Cu and 13g/t Ag from 85.04m; and
19-CP-03: 8.84m @ 1.59% Cu, 0.19% Mo and 14g/t Ag from 117.65m
These results targeted two previously drilled and unassayed holes between historic high-grade drill intercepts, to establish mineralization along a south-east trending extension of known Cowley Park high-grade copper skarn mineralization.
A 3,000m diamond drill program has commenced at the Cowley Park prospect to test identified high-grade copper skarn mineralization. The program will test strike and depth extensions to known mineralization providing Gladiator with a better understanding of the mineral potential within the Whitehorse Copper Project. Gladiator has engaged Kluane Drilling Limited, a global drilling company with more than 35 years of experience headquartered in Whitehorse, Yukon.
Gladiator CEO, Jason Bontempo, commented:
"Gladiator has rapidly advanced the historic, high grade Cowley Park Copper Prospect to the first phase of diamond drilling. The current drill program will be focused on better defining high grade mineralization as well as testing down dip and strike extensions to mineralization. Results from the first two holes from the ongoing logging and sampling of approximately 10,000m's of unassayed core from exploration drilling completed in recent years has identified further, previously unreported high-grade mineralization. We are also encouraged by the reporting of additional multi-elements for the project, including significant Molybdenum and Silver values from 18-CP-04 and 19-CP-03, given that these co-elements were not historically systematically assayed for and that Gladiator feels may provide future value to the project. We look forward to updating the market in the coming months with results from our data compilation of historic drilling, further assays from previously unlogged and unsampled core as well as initial results from Gladiators maiden drill campaign at Cowley Park."
Cowley Park -Assay Drill Core
The Company is currently logging and sampling approximately 10,000 metres of backlogged uncut core from exploration drilling campaigns completed in recent years. Gladiator has received assays results for two sampled holes drilled at the Cowley Park Prospect with results including:
18-CP-04: 12.5m @ 8.02% Cu and 13g/t Ag from 85.04m
19-CP-03: 8.84m @ 1.59% Cu, 0.19% Mo and 14g/t Ag from 117.65m
The recently returned assay results from holes 18-CP-04 and 19-CP-03 (please refer to Figure 1 below for details) from the logging and sampling program continue to support Gladiator's interpretation that mineralization at Cowley Park consists of multiple bodies, dipping shallowly to the southwest. Mineralization remains open at depth with the deepest intervals drilled to date, including 13.84m @ 1.26% Cu from 130.64m (18-CP-03) remaining open at depth (please refer to Figure 1 below for details).
High-grade copper skarn mineralization has now been traced over more than 700m strike (Figure 1) in historical drilling. Mineralization remains open in all directions with the most southeasterly hole, 19-CP-08 intersecting 43.28m @ 2.24% Cu from 93.27m and the most northwesterly hole, CP-053 intersecting 27.7m @ 2.74% Cu from 33.98m (Figure 1).
Figure 1: Plan map of the advanced Cowley Park Copper Prospect. Recently collated historical drill results with a cumulative Copper%*m of >40 highlighted as well as recent assay results from previously unassayed core from exploration drilling completed in recent years.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/163894_2921c8324495ca14_002full.jpg
Figure 2: Detail from Cowley Park drill intersections12.5m @ 8.02% Cu from 85.04m showing continuity of high-grade individual assays and texture of mineralised skarn.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/163894_2921c8324495ca14_003full.jpg
Drill Core Assaying
The drill results noted above represent the initial results from the commencement of logging and sampling of approximately 10,000 metres of unassayed core from exploration drilling completed in recent years. The core was drilled by multiple project operators, including the project vendors H.Coyne & Sons with the most recent programs completed in 2020. A large proportion of this drilling is from the high-grade Cowley Park project area but core is available for multiple prospect areas within the 35km of prospective strike extent at the Whitehorse Copper Project. The Company will continue to announce relevant drill intercepts based on logical grouping.
A complete list of the compiled holes from Cowley Park, their significant intercepts and their details can be found at:
https://docs.google.com/spreadsheets/d/1mn25VTZ5DSvCH-NfXUYRnCmB6WxwWVE5NVYMdYKd41U/edit#gid=1204953821
These recent results are in addition to the recently announced data compilation work at Cowley Park, which identified significant "downhole mineralization" (refer Company's news releases dated February 13, 2023, and April 3, 2023) including;
CP-003: 16.76m @ 2.27% Cu from Surface
CP-005: 9.14m @ 3.41% Cu from Surface and 7.62m @ 1.66% Cu from 21.34m to EOH
CP-011: 32.31m @ 1.16% Cu from 37.49m
CP-016: 32.92m @ 1.49% Cu from Surface, Including 14.51m @ 2.4% Cu from Surface
CP-018: 57.91m @ 1.27% Cu from 53.04m
CP-024: 44.19m @ 1.43% Cu from 97.54m, including 30.48m @ 1.85% Cu from 97.54m
CP-026: 41.76m @ 1.06% Cu from 95.4m
CP-028: 44.50m @ 1.18% Cu from 142.65m
CP-039: 62.49m @ 0.65% Cu from 152.4m
CP-040: 89.61m @ 1.89% Cu from 26.21m
CP-053: 27.7m @ 2.74% Cu from 8.69m, Including 7.83m @ 8.34% Cu from 23.93m
CP-063: 45.36m @ 1.26% Cu from 48.46m
CP-066: 40.27m 1.45% Cu from 23.62m, Including 15.55m @ 2.7% Cu from 23.62m
CP-081: 71.44m @ 1.10% Cu from 41.64m, Including 20.72m @ 2.64% Cu from 81.69m
CP-117: 46.94m @ 0.68% Cu from 73.46m
CP-119: 36.27m @ 2.28% Cu from 72.24m
CP-120: 33.34m@ 1.59% Cu from 72.12m, including 22.86m @ 2.05% Cu from 82.6m
CP-122: 56.17m @ 1.61% Cu from 56.91m
CP-126: 2.72m @ 14.68% Cu from 71.29m
CP-127: 62.48m @ 1.17% Cu, Including 3.05m @ 19.85% Cu from 102.72m
CP-112: 54.25m @ 1.79% Cu from 41.76m, including 10.67m @ 6.93% Cu from 85.34m
CP-125: 23.32m @ 3.53% cu from 51.51m, including 18.44m @ 4.42% Cu, from 56.39m downhole & 10.31m @ 1.41% Cu from 87.84m
CP-144: 53.38m @ 1.35% Cu from 19.17m, including 38.57m @ 1.73% Cu, 7.15 g/t Ag from 33.98m
19-CP-08: 43.28m @ 2.24% Cu from 93.27m, including 40.54m @ 2.36% Cu & 4.75 g/t Ag from 95.1m, including 13.72m @ 5.41% Cu & 19.22 g/t Ag from 109.42 m
Holes were drilled at various dips on a nominal grid with lines oriented 011 degrees. Gladiator's geologists obtained the drill records and logs from the Yukon Geological Survey archives (Holes CP001-135), with the remaining drill records obtained from Assessment Reports held by the Yukon Government and geological records and reports completed by Consulting Geologists employed by the various operating companies. Gladiator has then captured the data within an industry standard database and validated, this work remains ongoing with the commencement of logging and sampling of the 10,000 metres of unassayed core from exploration drilling completed in recent years.
Exploration Update
The Company's 2023 exploration program at the Whitehorse Copper Project is categorized into four parts which includes:
The Company's recently commenced a 3,000m diamond drilling program, focused predominantly on defining and extending mineralization at the Cowley Park prospect. Cowley Park had reached feasibility stage before copper mining operations activity in the were ceased in the region 1982. Identified mineralisation at Cowley remains open along strike and down dip.
In addition to the Company's own diamond drilling above, Gladiator will continue its program of logging and sampling approximately 10,000 metres of unassayed core from exploration drilling completed in recent years. The 10,000 metres of core mostly relates to drilling at Cowley Park (including 18-CP-04 and 19-CP-03) but also includes drilling at other prospect areas including North Star, Grafters, and Verona that are situated on the Best Chance to North Star trend and includes the former Little Chief mine.
Gladiator will also assay for Molybdenum, Gold, Silver & other elements which were not historically systematically assayed for, along with incorporating potentially lower grade mineralized material within or adjacent to significant mineralized widths that was often not sampled in the past to allow for future assessment of modern bulk mining potential.
The Company is also carrying out a systematic consolidation of the historic drilling and mining activity representing the first time a comprehensive review of regional datasets has been undertaken since the last mining activity in the region ceased in 1982 with the closure of the Little Chief mine. Gladiator to date has identified over 800 historical surface drill holes drilled by Hudson Bay Mining & Smelting Co Ltd., Yankee Hat Minerals Ltd, Lobo Del Norte Ltd, and the Vendor H.Coyne & Sons Ltd which were logged and selectively assayed. This includes 219 holes for approximately 25,000 metres completed at the Cowley Park Prospect which were reported to the market on April 3rd. As compilation and digitisation is completed the company will release the results of this historical drilling by prospect area along the Whitehorse Copper belt.
Regional Exploration
Work completed to date has identified more than 30 drill ready, high-grade regional targets associated with copper rich skarns at the contact between the Cretaceous age Whitehorse Plutonic Suite and the Triassic to Jurassic Lewes River Group's clastic and carbonate metasediments. Cumulatively, there is more than 35km of underexplored strike on the contact which is prospective for high-grade Copper+/-Molybdenum+/-Silver+/- Gold (refer to Figure 3 below).
Figure 3: Plan map of the Whitehorse Copper Project showing geology and location of key prospects within the main trend please refer to Company's news releases dated February 13, 2023, and April 3, 2023, for details.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/163894_2921c8324495ca14_004full.jpg
Gladiator's position is enhanced at Whitehorse, with the project having near year-round access for work programs, including an established road and drill access network, low capital infrastructure requirements due to the project's proximity to Whitehorse and a strong partnership with the owners of the Whitehorse Copper Project, an experienced local drilling service provider.
QA / QC
As part of the processing and capturing of the previously unassayed drill core, Gladiator is undertaking a systematic review of the available drill core after being retrieved from storage. This includes a review of the geological logging, marking up of lineal length of the core, undertaking a comparison of the physical ticketed sampling against historic documentation where noted, remarking any notations on the core box (including hole number, box number and nominal depths), taking core photographs (an example of this forms the basis for Figure 2).
After the systematic review, if the core is required to be sampled or resampled where it is deemed to not match the historical record of the hole, it is then marked up for sampling with a new sampling ticket that matches the submitted sample for analysis at the start of the sample interval, the drill core is then cut in half (for un-cut core) or quartered (for resampled core where required) utilizing a core saw equipped with a diamond saw blade. The core samples are then sent for analysis and the remaining half (or quarter core) retained for future reference. Certified Reference Materials (CRMs) or known blank material is placed within the sampling sequence at a nominal sampling rate of 1 in 25 samples to monitor the Laboratory. Samples are submitted to the ALS Global laboratory (Canada).
Samples from 18-CP-04 and 19-CP-03 were crushed to 70% less than 2mm before pulverizing to better than 85% passing 75 microns. Samples were then analysed by ALS method ME-ICP41 (Aqua Regia with ICP-MS finish), with overlimits for Cu analysed by method CU-OG46 (Aqua Regia with ICP-MS finish).
As part of this process, Gladiator also captures the required sampling metadata to potentially utilize the core and analysis for any future requirements if deemed acceptable. This includes holes 18-CP-04 and 19-CP-03. Further drilling will need to be completed by Gladiator at some stage to confirm the reliability or usability of this data in the future including but not limited to twinning of reported mineralization. This may be required as Gladiator may not be able to confirm the accuracy of the drill collar location or be able to re-enter the holes to confirm depths and undertake directional surveys, or that the QA/QC might not meet the current required standards under reporting instruments, such as NI-43-101. At this point the Company is treating the data collected from this exercise as reliable for the purposes of identifying future exploration targets and may be used to inform future drilling and exploration campaigns.
In reference to historic drill results reported in this news release from the Company's data compilation exercise, these results are historical in nature. Gladiator has not undertaken any independent investigation, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The Company believes that the historical drill results currently do not conform to presently accepted industry standards. Gladiator considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration and drilling programs. The Company also considers the data to be reliable for these purposes, however, the Company's future exploration work will include verification of the data through drilling. Please refer to Company's news releases dated February 13, 2023, and April 3, 2023 for further details.
ABOUT GLADIATOR METALS CORP.
Gladiator Metals Corp. is a mineral exploration company focused on the advancement of multiple high- grade copper prospects at its Whitehorse Copper Project (the "Project"), an advanced-stage copper (Cu) ± molybdenum (Mo) ± silver (Ag) ± gold (Au) skarn exploration project in the Yukon Territory, Canada. The Project comprises 314 contiguous claims covering approximately 5,380 Hectares (13,294 acres) in the Whitehorse Mining District.
Copper mineralization was first discovered in 1897 on the Whitehorse Copper Belt, as it came to be known. The Whitehorse Copper Belt comprised over 30 copper-related, primarily skarn occurrences covering an area of 35 by 5 km in a northwesterly trending arc. Exploration and mining development have been carried out intermittently since that time with the main production era lasting between 1967 and 1982 where production totaled 267,500,000 pounds copper, 225,000 ounces of gold and 2,838,000 ounces of silver from 11.1 million tons of mineralized skarn ore were milled (Watson, 1984).
The Project is accessible through numerous access roads and trails located within 2 km of the South Klondike Highway and the Alaska Highway. An extensive network of historical gravel exploration and haul roads exists throughout the project area, providing excellent access to the majority of the claim package. Access to existing electric power facilities is available through the main Yukon power grid. In November 2022, Gladiator executed an option agreement to acquire 100% of the Whitehorse Copper Project by incurring exploration expenditure of $12m on the project, staged payment of $300,000 in cash and the staged issue of 15m shares over 6 years. Following the exercise of the Option, the Company must pay the Optionor, or such other person(s) as the Optionor may direct from time to time, a 1.0% net smelter returns royalty on the Whitehorse Copper Project.
Qualified Person
All scientific and technical information in this news release has been prepared or reviewed and approved by Kell Nielsen, a "qualified person" as defined by NI 43-101.
Investor Relations
The Company has terminated its consulting agreement (the "Consulting Agreement") with GRA Enterprises LLC (the "Consultant"), a United States based investor communication and media services provider, effective April 21, 2023.
ON BEHALF OF THE BOARD
"Jason Bontempo"
Jason Bontempo
President and CEO
For further information contact:
Dustin Zinger, Investor Relations
+1-604-653-9464
[email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Certain of the statements and information in this news release constitute "forward-looking statements" or "forward-looking information". Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) that are not statements of historical fact may be forward-looking statements or information.
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company's properties; the effect of changes in commodity prices; regulatory risks that development of the Company's material properties will not be acceptable for social, environmental or other reasons; availability of equipment (including drills) and personnel to carry out work programs; and that each stage of work will be completed within expected time frames. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company's forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management's assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
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