Antler Gold Is Awarded the Ufipa Gold Project Located in Fertile Ubendian Belt, North-East Zambia
Antler Gold Is Awarded the Ufipa Gold Project
Located in Fertile Ubendian Belt, North-East
Zambia
Halifax, Nova Scotia--(Newsfile Corp. - May 31, 2023) - Antler Gold Inc. (TSXV: ANTL) ("Antler" or
"Company") is pleased to announce that it has been granted three new gold exploration licenses
targeting the extension of the highly-fertile Ubendian belt into north-east Zambia. The Eastern Ubendian
Corridor is well established as a producing gold terrane which includes 4 significant gold fields (Lupa,
Mpanda, Amani and Niassa), with the Lupa Goldfields hosting the >1MOz New Luika Gold Mine
("NLGM")
1
. The combined licenses, named the Ufipa Gold Project, cover an extensive 473,627 ha
offering a district scale opportunity for establishing a new gold field in the unexplored western extension
of the Ubendian Belt. The project forms part of Antlers 87.5% held subsidiary, Antler PG (see news
release dated March 24, 2022).
"We are pleased to have been granted these new exploration licenses in Zambia, particularly in an area
that is increasingly gaining recognition for hosting large, economically viable gold deposits. This is a
highly prospective region for gold exploration, and we are eager to begin our work there," said
Christopher Drysdale, CEO of Antler Gold. "Antler Gold continues to focus on securing technically sound
projects, attracting reputable and well-funded industry players, and reinforcing our status as a trusted
project generator. The Ufipa Gold Project is a commanding land position in this highly prospective
region, which adds to our growing portfolio of projects across southern Africa, and we look forward to
unlocking the value of this for the benefit of our shareholders."
Figure 1:
Location of Ufipa Gold Project
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Location and Geology of the Ufipa Gold Project
The 4,736 km
2
Ufipa Gold Project is made up of 3 large exploration licenses which are located in the
Northern and Eastern provinces of Zambia, approximately 800 km northeast of the Zambian capital of
Luska.
The Ubendian Belt is a highly fertile gold region that contains orogenic gold deposits which are related to
the reworking of Archean crust during younger orogenic events (
2
). The Eastern Ubendian Corridor
("EUC", Figure 2) is proven to be fertile with 4 known gold fields (Mpanda, Lupa, Amani and Niassa,
Figure 2). Of these gold fields, the Lupa Goldfields hosts the NLGM, which produced approximately
648KOz Au between 2013 and 2020 (
3
), and resources of 1.03 MOz Au (
1
). In the known gold fields of
the EUC, Au mineralization occurred over a period of >1Ga, with potential for orogenic Au mineralization
in the Ufipa Gold Project of the WUC during 3 orogenies (Ubendian; Iridiumide/Kibaran; Pan-African).
This extension of the WUC into Zambia has not been previously recognized and has the potential to
emerge as a new gold district.
The Ufipa Gold Project (Figure 2) hosts a variety of potential favorable host rock and structures
considered to be favorable targets to explore for potentially economic orogenic Au deposits. The area is
historically underexplored with regards to orogenic Au and modern low level analytical detection limits.
Exploration Program planned for 2023
Antler is planning to initiate exploration activities at the Ufipa Gold Project soon, with a particular
emphasis on assessing the potential for orogenic gold deposits. The Company is currently working on
obtaining an Environmental Project Brief from the Zambian Environmental Management Agency (ZEMA),
and once secured, field activities will promptly begin. Antler is committed to keeping all stakeholders
informed and will provide regular updates on the progress of the exploration program.
Figure 2:
Regional geological map showing the Precambrian regional context of the Ubendian Belt
between the Tanzania Craton and the Bangweulu Block (Map modified from Ganbat et al 2021).
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About Antler Gold Inc.
Antler Gold Inc. (TSXV: ANTL) is a Canadian listed mineral exploration company focused on the
acquisition and exploration of mineral projects in Africa's Top-Ranked Jurisdictions, with exposure to
both Gold and REE. Antler's total license position now comprises 6 projects for a total landholding of
approximately 584,347 Ha. The Company continues to assess new regional opportunities with the aim
of building a risk diversified business model, that allows the Company to generate short and long-term
income whilst providing stakeholders with exposure to potential multiple returns that are generated from
the discovery process.
Qualified Person
The technical and scientific information in this presentation has been reviewed and approved by Oliver
Tors, B.Sc. (Hons)., Exploration Manager of the Company, who is registered Professional Natural
Scientist (Pr. Sci. Nat. No. 120660) with the South African Council for Natural Scientific Professions
(SACNASP) who is a Qualified Person as defined by NI 43-101. Mr. Tors is an employee of Antler Gold
Inc. and is not independent of the Company under NI 43-101.
Cautionary Statements
This press release may contain forward-looking information, such as statements regarding the
appointment of directors and consultants. This information is based on current expectations and
assumptions (including assumptions relating to general economic and market conditions) that are
subject to significant risks and uncertainties that are difficult to predict. Actual results may differ
materially from results suggested in any forward-looking information. Antler Gold does not assume any
obligation to update forward-looking information in this release, or to update the reasons why actual
results could differ from those reflected in the forward-looking information unless and until required by
securities laws applicable to Antler Gold. Additional information identifying risks and uncertainties is
contained in the filings made by Antler Gold with Canadian securities regulators, which filings are
available at
www.sedar.com
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
For further information, please contact Christopher Drysdale, CEO of Antler Gold Inc., at +264
81 220 2439
1
Shanta Gold Limited, 2023
2
Dunn and von der Heyden 2022
3
Shanta Gold Ltd, 2020, 2021a, 2021b.
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