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Gold mining has longbeen a lucrative industry, even more so now as the metal trades nearrecord highs, with its value deeply rooted in its relatively limitedsupply, durability, and the role that mining plays in various sectorsincluding jewelry, electronics, exchange-traded funds, and centralbanking. The opportunity in gold mining is enduring as demand for theprecious metal remains very strong while new high-grade discoveriesare incredibly valuable.
As of May 20, 2023, the spotprice of gold stands at $1,978 USD. The outlook for the metal isinfluenced by a multitude of factors, from the economy to interestrates to geopolitical events to the direction of the U.S. dollar whichhas been in a downtrend since last fall. In the face of currenteconomic uncertainties, gold is doing what it often does best -serving as a safe haven for investors, outperforming the broaderequity markets. A strong gold price in 2023 has helped producerstremendously, and now some of the top explorers are starting to grabattention. One of those is Gander Gold Corp. (OTCQB: GANDF) (CSE:GAND), a unique story in Newfoundland, on Canada’s east coast, whichis no stranger to important new high-grade gold discoveries.
This article providesan in-depth look at Gander Gold's people and properties, theuniqueness of this situation, and the company’s potential for addingsome fresh sizzle to the junior gold market over the coming weeks andmonths.
Overview: Gander GoldCorp.
Canada’s most famous gold prospector, Shawn Ryan, filledGander Gold with a number of top tier grassroots properties a coupleof years ago, just ahead of the 2021 Newfoundland Gold Rush. This wasfollowed by Gander embarking on one of the most extensive pre-drillingexploration campaigns ever carried out on the island, resulting innearly 40,000 soil samples, an abundance of geophysical surveys, anddetailed ground truthing.
Now is when the fruits of that labor could pay offhandsomely as Gander Gold has just started first-ever drilling acrossa plethora of compelling targets after two years of initialexploration. Many other companies made the mistake of rushing intodrilling in 2021 when the Newfoundland gold discovery euphoria firsterupted, coinciding with a brief gold price rebound. Gander took adifferent route, opting for a more systematic, methodical approach inorder to develop higher probability targets further down the road.That patience may prove to be the key to the next game changing newdiscovery in the Canadian gold sector.
Gander Gold’s properties span an impressive2,259 sq. km, making this company one of the largest landowners on theentire island of Newfoundland. As a lot of yellow on this map shows, they particularly dominate the Gander area with three majorprojects - Gander North, Mt. Peyton, and BLT .
These three Gander Goldprojects, never previously drilled, broadly surround one of Canada’smost exciting highest-grade gold discoveries this century – NewFound Gold’s (NYSE American: NFGC) (TSXV: NFG) Queensway Projecthighlighted by its prolific Keats Zone starting approximately 15 kmwest of Gander North. New Found Gold commands about a $1 billion (CDN)market capitalization after a series of high-grade discoveries atvarious zones including Keats where one drill hole returned astaggering 106 g/t Au over a core interval of 35.40 meters.
The gold deposit modelfor Newfoundland has undergone a major transformation in recent years,thanks in part to not only New Found Gold but Shawn Ryan, opening upvast new areas for the potential discovery of high-gradesystems.
Publiclylisted on the CSE in March 2022 under the ticker “GAND,” GanderGold has positioned itself as a well-funded "pure-play"Newfoundland gold company and the premier grassroots discoveryopportunity on the island. Gander also has an influential shareholderbase, with Sassy Gold (OTCQB: SSYRF) (CSE: SASY) and Eric Sprottowning just over 50% of the total issued and outstanding shares, and ahandful of other key long-term players (including Ryan) owning another20%.
Strategicpartnerships with Ryan and GroundTruth Exploration, a leader instate-of-the-art exploration programs, give Gander a proven method ofdiscovery in Newfoundland which is ranked the 4 th mostattractive jurisdiction in the world in terms of mining investmentaccording to the latest Fraser Institute’s Annual Survey of MiningCompanies.
Theteam steering Gander Gold includes accomplished managers and boardmembers who have significant experience and success at both seniorproducer and junior exploration levels including President and CEOMark Scott who ran Vale Canada’s Manitoba Nickel Division.
Key Drill-Ready MiningProperties
Gander NorthProject
The485 sq. km Gander North Project, all virgin territory, is a promisingarea for new gold discoveries. Geophysical structures stretcheast-northeast for approximately 25 km and are overlain by highlyanomalous gold and copper-in-soil as determined by two years of GanderGold sampling (2021 and 2022). Gander North starts 15 km east of NewFound Gold's Keats Zone and has the potential for hostingepithermal and mesothermal-type systems. Shawn Ryan believes GanderNorth may host an entirely new major gold trend in Newfoundland, notpreviously recognized due to a lack of visible outcrop. That’s whysoil sampling is key, at this and other projects, and GroundTruth’ssoil sampling techniques are recognized as the best.
Mt. Peyton Project
The 956 sq. km Mt.Peyton Project is a highly intriguing land package that just likeGander North was never thoroughly investigated until Gander Gold camealong. The large egg-shaped Mt. Peyton property is made up of agranite intrusive surrounded by gabbro. Geological speculation is thatgiven the location of the property relative to recent gold discoverieswithin the Gander Gold Belt that the granite intrusive is a possible“heat engine” which provided an impetus for gold to remobilize indeep-rooted favourable structures. There are two large areas ofinterest at Mt. Peyton, the Goldenrod Zone in the northwest and theHorseshoe Zone in the southwest.
BLT Project
The BLT Project gives Gander Gold exposure to alargely unexplored section of the Northern Arm Fault, the same faultsystem that hosts Marathon Gold's (OTCQX: MGDPF) (TSX: MOZ)multi-million-ounce gold resource to the southwest. The project'semerging "Islander Zone" gold-in-soil discovery currentlymeasures 1,400 m x 400 m based on 845 samples, with one soil samplereturning an astounding 5.94 g/t Au.
Cape Ray II Project
Gander Gold’s Cape Ray II Project is contiguousto one of the world’s highest-grade scenarios for potential open-pitmining - Matador Mining’s (OTCQB: MZZMF) (ASX: MZZ) Cape Raydeposits in the southwest part of Newfoundland. Gander’s DoughballJog, the largest of three zones at Cape Ray II, covers an area ofapproximately 30 sq. km. A sigmoidal-like feature defined by a lategranitoid intrusive, Doughball Jog is considered very prospective forhigh-grade gold mineralization that may have accumulated in deformation zones.
Recent News:
Gander Gold Embarks on GroundbreakingDrilling Venture in Newfoundland
In a significant development, Gander Gold haslaunched its maiden drilling expedition in Newfoundland. This initiative follows two years ofsystematic groundwork and strategic planning, during which the companyhas cultivated a robust pipeline of untapped gold properties. Theseproperties, which cover a commanding area of 2,259 sq. km, holdimmense promise for the discovery of new high-grade golddeposits.
Noteworthy developments:
- The company has kick-started a comprehensive70-hole rotary air blast (RAB) drilling program, spanning four majorprojects. The first project to be drilled is GanderNorth;
- Gander North and Mt. Peyton are fully permitted forboth preliminary RAB drilling and follow-up diamond drilling. BLT andCape Ray II drill permits are pending;
- In total, across itseight Central Newfoundland Gold Belt projects, Gander has outlinedmore than 100 linear km of potential strike along which geochemicalanomalies are overlain on top of identified geophysicalanomalies.
Gander CEO Mark Scott expressed his enthusiasm about the wealthof drill targets that have surfaced from the company’s extensivetwo-year greenfield exploration program. He’s optimistic about theyear ahead, as many of these targets are slated for first-ever drilltesting during a buoyant gold market. He’s eager to tap into GanderGold's considerable discovery potential in the CentralNewfoundland Gold Belt and deliver the island’s next major golddiscovery.
RABdrilling at Gander North, Mt. Peyton, BLT and Cape Ray II will offerunprecedented insights into the bedrock and structural environmentsbeneath significant soil geochemistry anomalies. The data gleaned fromdaily XRF measurements and in-hole televiewer will inform the programand help prioritize targets for follow-up diamond drilling. A suite oftechniques, including geological mapping, prospecting, ground VLF-Maggeophysical surveys, and ground penetrating radar (GPR) surveys, willbe employed when required to refine target definition ahead of RAB ordiamond drill holes.
RAB drilling has started in the "Viking" area of GanderNorth where VLF surveys have revealed conductive structures beneathextensive soil anomalies.
GanderGold Expands Golden Horseshoe Zone at Mount Peyton
Gander Gold has sharedan encouraging update on its Mt. Peyton Project in Newfoundland. The project ,spanning 956 sq. km, is strategically located between significant golddiscoveries by Sokoman Minerals and New Found Gold.
Gander has completedthe most extensive grassroots sampling program ever carried out at Mt.Peyton, and this includes nearly 5,000 soil samples in the GoldenHorseshoe Zone. Latest results include the highest gold-in-soil valuesto date at this zone which currently spans approximately 15 km northto south and up to 10 km east to west (150 sq. km).
Golden Horseshoe isinterpreted to be a fold hinge defining the western margin of an areaof major structural discordance, heightening the probability of golddeposition.
New High-Grade GoldTarget at Gander Gold’s Mt. Peyton Project
Gander Gold hasidentified a new high-grade gold target, the Goldenrod Zone, at itsMt. Peyton Project in Newfoundland. The GoldenrodZone has generated the highest gold-in-soil results to date at theproject, with 67 samples having Au values in the 99th percentile. Thezone also shows a positive correlation of Au-in-soil witharsenic-in-soil, a key pathfinder associated with the Moosehead andNew Found Gold discoveries. Preliminary interpretation suggests thatthe Goldenrod Zone is a typical setting for orogenic gold, similar tothe Moosehead and New Found Gold's Queensway Project.
Gander Gold Details Three Large GoldZones at Cape Ray II Property
Gander Gold has reported promising high-gradegold-in-soil results from its CapeRay II Project in Newfoundland covering 323 sq. km. Three largezones of interest have been identified - Doughball Jog, Sou’wester,and Cabot.
CapeRay II is contiguous to Matador Mining's Cape Ray deposits andoccupies deformation zones between two significant tectonicstructures, the Long Range/Cabot Fault to the west and the CapeRay/Valentine Fault to the east. The Cape Ray/Valentine Fault hostsMarathon Gold's multi-million ounce deposit with initialproduction planned for 2025.
High-Grade Gold-In-Soils at Gander Gold’s BLTProject
Gander Gold has reported impressive high-grade gold-in-soilresults from its 287 sq. km BLT (Botwood-Laurenceton-Thwart Island) Project in Newfoundland. Theresults are particularly noteworthy from the newly identified"Islander Zone", which covers a central portion of ThwartIsland in the Bay of Exploits.
Key findings include:
- The first-ever soil samples at the BLTProject have defined the "Islander Zone", wide open forexpansion beyond its current 1,400 m x 400 m;
- A sample fromthe Islander Zone, with 5.94 g/t Au (5,939 ppb), is the highest-gradesoil sample result across any of Gander’s eight Newfoundlandprojects and among the 38,941 total soil samples taken in 2021-2022(100 ppb Au is considered very high in the context of Newfoundlandsoils);
- The gold-in-soil zone at Islander coincides with veryanomalous arsenic-in-soil, consistently present across the interpretedstrike of the Islander Zone.
Gander Finds Multiple Gold Targets Along 25 Km Trend atGander North
Gander Gold has identified multiple high-priority gold targetsfor drilling in 2023 at its 485 sq. km GanderNorth Project in Newfoundland, spanning a 25-km-longeast-northeast-trending series of structures. The project has been oneof the island's most comprehensive grassroots gold explorationprograms since May 2021, involving airborne geophysical surveys, soilsampling, structural interpretation, and geological mapping.
The soil and rockgeochemistry database reveals evidence of anomalous Mo, Cu, and Pb,suggesting the potential for epithermal and mesothermal-type systemswithin the project area. Among the many C-horizon soil samplescollected since 2021, over 1,200 samples (including 72 >100 ppb Au)have shown anomalous to extremely anomalous Au-in-soil associated withidentified east-northeast crosscutting structures, indicating apotential gold source (mesothermal) within these structures.
Gander Gold TechnicalAdvisor Shawn Ryan commented that Gander North has been a textbookexample of a proven gold discovery methodology, with highgold-in-soils and favorable structure suggesting the presence of anentirely new gold trend east of the GRUB Line.
Hot Summer For Gander Gold?
In conclusion, GanderGold Corp. (OTCQB: GANDF) (CSE: GAND) has positioned itself as asignificant player in the gold mining sector, with a vast portfolio ofpromising properties in the Gander Gold Belt and the broader CentralNewfoundland Gold Belt. The company's strategic acquisitions,extensive exploration efforts, and partnerships with industry expertshave produced an unparalleled pipeline of high-grade gold discoveryopportunities in one of the world’s premier miningjurisdictions.
With the current global economic uncertainties, the trendtoward record high gold prices, and the need for new high-grade golddeposits, Gander Gold's value proposition presents a compellingopportunity for investors as did New Found Gold when it became publicin 2020. Gander’s recent launch of its maiden drilling program inNewfoundland, along with its plans for further exploration anddrilling through the balance of 2023, underscore its commitment tounlocking the full potential of its properties. As Gander Goldcontinues to evolve, it’s poised to contribute significantly toNewfoundland’s growing importance as a leading resourcejurisdiction.
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