Gladiator Recommences Drilling at the Whitehorse Copper Project and Strengthens Executive Team
Vancouver, British Columbia--(Newsfile Corp. - September 26, 2023) - Gladiator Metals Corp. (TSXV: GLAD) (OTC Pink: GDTRF) ("Gladiator" or the "Company") is pleased to announce that drilling has recommenced at the Cowley Park Copper prospect at the Whitehorse Copper Project.
A 4,000m 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 mineralization providing Gladiator with a better understanding of the mineral potential within the Whitehorse Copper Project.
Gladiator is fully funded to expand its ambitious exploration program at the Whitehorse Copper Project with $8.2 million cash on hand (on 26 September)
Gladiator is also pleased to announce additions to its Whitehorse-based management team through the appointment of:
Marcus Harden, President: Geologist with more than 20 years of exploration and management experience with key roles in multiple discoveries globally. Former Principal Geologist - First Quantum Minerals.
Leneath Yanson, Community Liaison: More than 5 years of community and public relations experience in Non-Profit and Yukon First Nations community and economic development.
Gladiator CEO, Jason Bontempo commented:
"Gladiator is excited to recommence diamond drilling at the high-grade Cowley Park Copper Prospect. Over the summer, Gladiator's team has integrated surface mapping, historic drill hole datasets and planned regional geophysical surveys to identify potential controls on high-grade mineralisation within the deposit. This drilling is focused on better defining this high-grade mineralisation as well as testing its strike and depth extensions.
Gladiator has also boosted its management team through the appointments of Marcus Harden as President and Leneath Yanson as Community Relations Liaison. The strengthening of the team ensures that Gladiator can execute its core strategy with the aim of delineating a high-grade copper inferred resource at the Whitehorse Copper project in a framework that respects and benefits the local communities and stakeholders.
We look forward to updating the market in the coming months with results from our summer field campaign, data compilation of historic drilling, further sampling assays from previously unlogged and unsampled core as well as results from Gladiators drill campaign at Cowley Park."
Cowley Park - Updated Targeting
The Company has recently updated its model of identified mineralisation at the Cowley Park Prospect through the integration of historical drilling and recent surface mapping from summer field campaigns.
High-grade copper skarn mineralization has now been traced over more than 700m strike with mineralization remaining open in all directions.
The current drilling programme is designed to target extensions to identified high-grade mineralised trends through step out drill holes located primarily to the south and southeast of identified mineralisation, including following up on the most southeasterly hole to date, 19-CP-08 which intersected 43.28m @ 2.24% Cu from 93.27m (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. Proposed drilling also highlighted.
To view an enhanced version of this graphic, please visit:
A complete list of the compiled holes from Cowley Park and their significant intercepts and details can be found at:
Further details on quoted mineralisation intersected in drilling contained in this release, plus any relevant information regarding QAQC can be found at:
"Gladiator Metals Announces Results of Maiden Drill Program at Cowley Park Copper Prospect" - Announced to the TSX on 24 July, 2023.
"Gladiator Metals Intersects Copper in Maiden Drill Campaign at Cowley Park" - Announced to the TSX 5 June, 2023.
"Gladiator Metals Assays 32.92m @ 2.08% Copper from Historical Drill Core at Cowley Park" - Announced to the TSX 15 May, 2023.
"Gladiator Metals Samples 12.5m @ 8.02% Copper at the Cowley Park and Commences Drilling at the Whitehorse Copper Project" - Announced to the TSX 27 April, 2023.
"Gladiator Metal Announces Additional High-Grade Copper Drill Intercepts" - Announced to the TSX 3 April, 2023.
The Whitehorse Copper Project
The Whitehorse Copper Project is an advanced-stage copper (Cu) ± molybdenum (Mo) ± silver (Ag) ± gold (Au) skarn exploration project in the Yukon Territory, Canada. The property 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 became 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 north westerly trending arc (refer to Figure 2). 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 milled (Watson, 1984).
The Project is accessible through with 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.
Figure 2: 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:
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.
The Company announces the grant of a total of 1,825,000 incentive stock options to certain directors, officers and consultants of the Company, subject to TSX Venture Exchange acceptance. Each option is exercisable to purchase one common share of the Company for five years at a price of CAD 0.55 per common share in accordance with the terms of the Company's stock option plan and subject to certain vesting provisions.
ON BEHALF OF THE BOARD
President and CEO
For further information contact:
Dustin Zinger, Investor Relations
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.
Sitka Gold Drills 219.0 Metres of 1.34 g/t Gold Including 124.8 Metres of 2.01 g/t Gold and 55.0 Metres of 3.11 g/t Gold at its RC Gold Project, Yukon
Tue, September 26, 2023 at 5:00 a.m. PDT·13 min read
VANCOUVER, BC,Sept. 26, 2023/CNW/ -Sitka Gold Corp. ("Sitka" or the"Company")(CSE: SIG) (FSE: 1RF) (OTCQB: SITKF
Transition Metals Discovers Additional High Grade Polymetallic Mineralized Zones, and Provides Exploration Update for the Pike Warden Project, Yukon
Prospecting grab samples assay up to 954 g/t Ag, 832 g/t Ag, and 347 g/t Ag
Sampling at the ERT has significantly expanded the known mineralized footprint of this target area
3 new showings discovered in previously unsampled northeastern portion of the property, highlighting new prospective areas
Polymetallic nature of mineralization is encouraging for a larger epithermal system
Sudbury, Ontario--(Newsfile Corp. - September 11, 2023) - Transition Metals Corp. (TSXV: XTM
Victoria Gold Acquires Yukon Properties
Victoria Gold Corp
Thu, September 14, 2023 at 2:00 p.m. PDT·8 min read
Brewery Creek: 1.1M ozs of M&I and 1.0M ozs of Inferred Gold Resources
WHITEHORSE, YT, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) is pleased to announce the acquisition of Sabre Gold Mines Corp.’s (TSX-SGLD) (“Sabre”) Yukon assets (the “Transaction”, or the “Acquisition”), via the acquisition of Sabre’s wholly owned Yukon subsidiary, Golden Predator Mining Corp. (“Golden Predator”). All currency amounts listed in Canadian dollars.
Victoria has acquired Sabre’s 100% interest in the Brewery Creek property, as well as the 100%-owned Gold Dome and Grew Creek exploration properties.
Mr. John McConnell, President and CEO of Victoria commented: “With the acquisition of Sabre’s Yukon assets, we are pleased to be expanding our footprint and asset base in our own backyard. With our track record of exploration, permitting, development and operations in Yukon, we believe we can add value to this portfolio of assets.”
Brewery Creek is a formerly producing heap leach project, covering 181 square kilometers, located in northwestern Yukon, approximately 55 kilometers east of Dawson City, Yukon and approximately 120 kilometers west of Victoria’s Eagle Gold Mine. The property is the subject of a NI 43-101 Technical Report which sets out a Mineral Resource Estimate1 of 34.5 million tonnes of Measured and Indicated Mineral Resources grading 1.03g/t Au, containing 1.14 million ounces of gold and 36.0 million tonnes of Inferred Mineral Resources grading 0.88g/t Au, containing 1.02 million ounces of gold (effective date of Mineral Resource Estimate: May 31, 2020). Brewery Creek is also the subject of a Preliminary Economic Assessment1 with an effective date of January 18, 2022.
The Gold Dome property is road accessible and covers 95 square kilometres and is located approximately 25 kilometres west of the village of Mayo, Yukon. The Grew Creek property covers approximately 135 square kilometres and is located on the Robert Campbell highway, approximately 6 kilometres west of Ross River, Yukon.
Golden Predator has reported non-capital losses of $44 million. Victoria expects certain tax-related synergies to be associated with the Transaction.
The Acquisition was completed pursuant to the terms of a share purchase agreement between Victoria and Sabre, whereby Victoria acquired all of the issued and outstanding shares of Golden Predator, a wholly owned subsidiary of Sabre, which indirectly holds a 100% interest in the Brewery Creek property, as well as certain other mineral assets that include the Gold Dome and Grew Creek exploration properties. After giving effect to the Acquisition, Golden Predator is now a wholly owned subsidiary of Victoria.
Victoria will pay aggregate consideration of $13.5 million for Golden Predator, payable as follows:
initial consideration of $1.5 million in cash and an additional $7.0 million in cash or Victoria shares at Victoria’s election (“elective portion”), payable on closing;
$0.5 million in cash and an additional $2.5 million in cash or Victoria Shares at Victoria’s election, payable on the 12-month anniversary of the closing date; and
$0.5 million in cash and an additional $1.5 million in cash or Victoria Shares at Victoria’s election, payable on the 24-month anniversary of the closing date.
Victoria has satisfied the elective portion of the initial consideration in cash from its treasury.
All required approvals for the Transaction have been obtained and the Transaction closed on September 14, 2023.
Advisors and Counsel
Desjardins Capital Markets acted as financial advisor to Victoria. Bennett Jones LLP acted as Victoria’s legal counsel.
1 – Technical Report is available on SEDAR+ (www.sedarplus.com) under Sabre's issuer profile.
The technical content of this news release has been reviewed and approved by Paul D. Gray, P.Geo., as the “Qualified Person” within the meaning of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
About the Dublin Gulch Property
Victoria Gold's 100%-owned Dublin Gulch gold property (the “Property”) is situated in central Yukon Territory, Canada, approximately 375 kilometers north of the capital city of Whitehorse, and approximately 85 kilometers from the town of Mayo. The Property is accessible by road year round, and is located within Yukon Energy's electrical grid.
The Property covers an area of approximately 555 square kilometers, and is the site of the Company's Eagle and Olive Gold Deposits. The Company issued a National Instrument 43-101 Technical Report for the Eagle Gold Mine dated April 10, 2023 (the “2023 Eagle Technical Report”). As at December 31, 2022, the Eagle and Olive deposits include Proven and Probable Reserves of 2.6 million ounces of gold from 124 million tonnes of ore with a grade of 0.65 grams of gold per tonne. As at December 31, 2022, the Mineral Resource for the Eagle and Olive deposits set forth in the 2023 Eagle Technical Report has been estimated to host 245 million tonnes averaging 0.59 grams of gold per tonne, containing 4.7 million ounces of gold in the Measured and Indicated category, inclusive of Proven and Probable Reserves, and a further 35 million tonnes averaging 0.62 grams of gold per tonne, containing 0.7 million ounces of gold in the Inferred category.
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". Except for statements of historical fact relating to Victoria, information contained herein constitutes forward-looking information, including any information related to Victoria's strategy, plans or future financial or operating performance. Forward-looking information is characterized by words such as “plan”, “expect”, “budget”, “target”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will”, “could” or “should” occur, and includes any guidance and forecasts set out herein (including, but not limited to, production and operational guidance of the Corporation). In order to give such forward-looking information, the Corporation has made certain assumptions about its business, operations, the economy and the mineral exploration industry in general. In this respect, the Corporation has assumed that production levels will remain consistent with management’s expectations, contracted parties provide goods and services on agreed timeframes, equipment works as anticipated, required regulatory approvals are received, no unusual geological or technical problems occur, no material adverse change in the price of gold occurs and no significant events occur outside of the Corporation's normal course of business. Forward-looking information is based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those described in, or implied by, the forward-looking information. These factors include the impact of general business and economic conditions, global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future conditions, anticipated metal production, fluctuating metal prices, currency exchange rates, estimated ore grades, possible variations in ore grade or recovery rates, changes in accounting policies, changes in Victoria's corporate resources, changes in project parameters as plans continue to be refined, changes in development and production time frames, the possibility of cost overruns or unanticipated costs and expenses, uncertainty of mineral reserve and mineral resource estimates, higher prices for fuel, steel, power, labour and other consumables contributing to higher costs and general risks of the mining industry, failure of plant, equipment or processes to operate as anticipated, final pricing for metal sales, unanticipated results of future studies, seasonality and unanticipated weather changes, costs and timing of the development of new deposits, success of exploration activities, requirements for additional capital, permitting time lines, government regulation of mining operations, environmental risks, unanticipated reclamation expenses, title disputes or claims, limitations on insurance coverage and timing and possible outcomes of pending litigation and labour disputes, risks related to remote operations and the availability of adequate infrastructure, fluctuations in price and availability of energy and other inputs necessary for mining operations. Although Victoria has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in, or implied by, the forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purpose of assisting investors in understanding Victoria's expected financial and operational performance and Victoria's plans and objectives and may not be appropriate for other purposes. All forward-looking information contained herein is given as of the date hereof, as the case may be, and is based upon the opinions and estimates of management and information available to management of the Corporation as at the date hereof. The Corporation undertakes no obligation to update or revise the forward-looking information contained herein and the documents incorporated by reference herein, whether as a result of new information, future events or otherwise, except as required by applicable laws.
For Further Information Contact:
President & CEO
Victoria Gold Corp
Sitka Gold Intercepts 108.00 g/t Gold Over 1.2 Metres Within 4.15 g/t Gold Over 38.2 Metres at its RC Gold Project, Yukon
Mon, September 11, 2023 at 6:05 a.m. PDT·12 min read
VANCOUVER, BC , Sept. 11, 2023 /CNW/ - Sitka Gold Corp. ("Sitka" or the "Company") (CSE: SIG) (FSE: 1RF) (OTCQB: SITKF
Victoria Gold: 3.5 g/t Au over 27.5m at Raven Deposit, Dublin Gulch Gold Camp, Yukon
Victoria Gold Corp
Thu, September 14, 2023 at 3:00 a.m. PDT·13 min read
WHITEHORSE, Yukon, Sept. 14, 2023 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX)