Gladiator Announces Further High-Grade Copper Results from Chiefs Trend: 20.44m at 2.17% Copper Returned
Gladiator Announces Further High-Grade
Copper Results from Chiefs Trend: 20.44m at
2.17% Copper Returned
Highlights
Results continue to confirm continuity of high-grade copper skarn mineralization at the Chiefs
Trend with assays now received for 20 holes for 3,581m of drilling.
High-grade copper skarn mineralization has now been intersected over at least 600m of strike at
the Chiefs Trend and remains open in all directions.
Assays returned significant copper and gold mineralization, including:
LCG-009:
11m @ 1.67% Cu and 0.63 g/t
Au
from 194m.
LCG-009D1:
20.44m @ 2.17% Cu and 0.34 g/t
Au
from 221.6m to EOH.
LCG-009D2:
8.7m @ 2.06% Cu and 0.13 g/t
Au
from 167m.
In addition, exploration upside indicated by significant widths of anomalous mineralization in initial,
200m spaced step out drilling north of Middle Chief in drillhole LCG-010D1.
The above results are in addition to those previously reported on March 5, 2024, including:
LCG-001D1:
22m @ 1.41% Cu and 0.28 g/t
Au
from 208m;
LCG-001:
16m @ 1.29% Cu and 0.61 g/t Au
from 249m and
6m @ 1.56 % Cu
and
1.06
g/t Au
from 213m;
LCG-001D2:
10m @ 1.35% Cu and 0.51g/t Au
from 196m
, 10m @ 0.83% Cu
and
0.19
g/t Au
from 62m and
4m @ 1.03 Cu
and
0.19 g/t Au
from 84m; and
LCG-003: Recovered core
@ 2.71% Cu and 1.39 g/t Au within a 13.75m
mineralised
zone from 256m to end of hole (approximately 270m) that failed in
0.25m @ 2.76% Cu
and
0.28 g/t Au
.
Gladiator CEO, Jason Bontempo commented:
"Gladiator has received further assays from its ongoing, 10,000m diamond drill program at the Chiefs
Trend. These results confirm and support the significant widths of high-grade copper skarn
mineralization identified from Gladiators data compilation of historical datasets and point to further
extensions of the defined mineralised bodies. Mineralization remains open in all directions with some
holes finishing in high grade copper-gold mineralization.
These results continue to confirm the extent of unmined mineralization and highlight the near-term,
high-grade copper resource potential of the Chiefs Trend. Initial step out drilling on the Chiefs Trend,
200m to the north of Middle Chief has also encountered significant widths and grades of copper
mineralization pointing to the exploration potential of the trend which is being followed up by ongoing
drilling.
The significant gold assays coincident with high-grade copper mineralization identified in these initial
assay results point to the upside potential of the Chiefs Trend with the historic drilling only assaying
for copper".
________________________
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2024) -
Gladiator Metals Corp.
(TSXV: GLAD)
(OTCQB: GDTRF) (FSE: ZX7) ("
Gladiator
" or the "
Company
") provides an update on drilling at the
Whitehorse Copper Project with drilling targeting significant widths of unmined, copper-gold skarns over
more than 700m of strike at the historic Chiefs Trend (refer to Figure 1 below for details).
Figure 1: Plan view of recently collated Little Chief and Middle Chief drillhole data showing historic
open pit as well as areas of historical production and unmined mineralization. Recent drilling
highlighted showing extensions to mineralization as well as recently identified high-mag anomalies
from drone magnetics (pink shading).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/208297_4f08d79d54b27bb1_002full.jpg
Drilling at Middle Chief & Big Chief Prospects
Assay results returned from 20 holes, 3,581m (LCG-001-005, LCG-007-008, LCG009, LCG-009D1,
LCG-009D2, LCG-010 and LCG-010D1) at the Chiefs Trend confirm the extensive high-grade
mineralization highlighted by Gladiator's data compilation of historical drilling (refer to news release 16
th
Nov 2023). Mineralization remains open in all directions with some holes finishing in high-grade copper
and gold mineralization due to difficult ground conditions. Copper - gold mineralization highlighted from
these assay returns includes:
LCG-009:
11m @ 1.67% Cu and 0.63 g/t
Au
from 194m.
LCG-009D1:
20.44m @ 2.17% Cu and 0.34 g/t
Au
from 221.6m to EOH.LCG-009D2:
8.7m @
2.06% Cu and 0.13 g/t
Au
from 167m.
LCG-009D2:
8.7m @ 2.06% Cu and 0.13 g/t
Au
from 167m.
In addition, significant exploration upside remains with extensive widths of anomalous copper
intersected in initial 200m spaced step out drilling north of the known Middle Chief Mineralization.
Drillhole LCG-010D1
intersected significant anomalous copper (Plus 40m > 0.1 Cu%,
including
1m @ 1.28% Cu and 1.61 g/t Au
) that is interpreted as being immediately distal to the mineralised
trend
. Gladiator plans to complete Down-Hole Electromagnetic (DHEM) prior to recommencing drilling
targeting extensions to the known Middle Chief Mineralisation. These results confirm mineralization to be
associated with magnetite alteration as indicated in the recently completed drone-borne magnetic
survey where magnetic anomalism is reported over 500 meters at Middle Chief extending into Big Chief.
These results are in addition to analytical results reported on March 5, 2024, including:
LCG-003: Recovered core
@ 2.71% Cu and 1.39 g/t Au within a 13.75m
mineralized zone from
256m to end of hole (approximately 270 m) that failed in
0.25m @ 2.76% Cu and 0.28 g/t Au.
LCG-001D1:
22m @ 1.41% Cu and 0.28 g/t
Au from 208m.
LCG-001:
6m @ 1.56 % Cu and 1.06 g/t Au
from 213m and
16m @ 1.29% Cu and 0.61 g/t Au
from 249m.
LCG-001D2:
10m @ 0.83% Cu and 0.19 g/t Au
from 62m,
4m @ 1.03 Cu and 0.19 g/t Au
from
84m
and 10m @ 1.35% Cu and 0.51g/t Au
from 196m.
Please refer to Table 1 below for a full listing of drill results:
Hole
ID
Target
Depth
East
North
Dip
Azim
Note
From
To
Interval
(m)
CuEq
(%)
Cu
(%)
Au
(g/t)
Ag
(g/t)
Mo
(ppm)
CuPCM
(Cu*
Int)
Remarks
LCG-
001
MC
338.33
496,665
6,722,472
-68
245
67.00
69.00
2
2.08
0.01
2.66
0
6.0
0.02
183.00
221.00
38
0.98
0.66
0.35
5.32
11.0
25.08
Incl.
185.00
193.00
8
1.64
1.16
0.51
8.63
2.0
9.28
And
213.00
219.00
6
2.51
1.56
1.06
13.47
1.0
9.36
237.00
241.00
4
0.61
0.59
0.01
1.15
34.0
2.36
249.00
273.00
24
1.41
0.99
0.44
8.33
38.0
23.76
Incl
.
249.00
265.00
16
1.87
1.29
0.61
10.88
55.0
20.64
LCG-
001D1
MC
273.19
496,671
6,722,474
-66
245
204.00
236.00
32
1.41
1.11
0.27
9.24
113.0
35.52
Incl.
208.00
230.00
22
1.74
1.41
0.28
11.84
21.0
31.02
LCG-
001D2
MC
301.75
496,671
6,722,473
-65
275
62.00
76.00
14
0.85
0.69
0.15
5.14
179.0
9.66
Incl.
62.00
72.00
10
1.04
0.83
0.19
6.18
193.0
8.3
84.00
88.00
4
1.23
1.03
0.19
5.35
0.0
4.12
196.00
206.00
10
1.84
1.35
0.51
10
4.0
13.5
LCG-
001D3
MC
215.8
496,671
6,722,473
-58
190
147.00
149.00
2
1.13
0.66
0.5
8.9
1.0
1.32
Hole Failed to reach
Target
LCG-
002
MC
196.6
496,621
6,722,518
-76
266
179.00
193.00
14
0.89
0.76
0.1
5.07
11.0
10.64
Hole Failed in Fault
Zone, prior to target
LCG-
003
MC
269.75
496,759
6,722,521
-50
270
256.00
269.75
13.75
4.04
2.71
1.39
26.9
16.0
37.26
EOH
- Weighted
Average Result -
Calculated over the
recovered Intervals,
Includes 9m of core
loss
Incl.
269.50
269.75
0.25
3.13
2.76
0.28
16.2
11.0
0.69
EOH Sample
LCG-
003D1
MC
301.75
496,759
6,722,521
-55
271
249.00
251.00
2
0.91
0.70
0.14
10.9
7.0
1.41
LCG-
003D2
MC
265.18
496,759
6,722,521
-55
262
NSA
LCG-
004
MC
205.74
496,296
6,722,773
-60
155
NSA
LCG-
005
BC
169.16
496,318
6,722,727
-60
165
6.10
9.00
2.9
0.95
0.54
0.51
1.83
1.0
1.57
Big Chief
57.00
62.00
5
1.02
0.76
0.31
2.54
39.0
3.80
97.00
106.00
9
0.42
0.35
0.08
1.28
431.0
3.15
LCG-
006
BC
203
496,359
6,722,657
-70
65
3.6
12.5
8.90
0.48
0.32
0.20
0.65
4.0
2.81
LCG-
007
BC
277.37
496,359
6,722,658
-68
283
NSA
LCG-
008
MC
164.59
496,625
6,722,473
-50
235
NSA
LCG-
008D1
MC
211.53
496,625
6,722,473
-65
235
50.00
52.00
2
0.93
0.72
0.22
3.95
292.0
1.43
LCG-
008D2
MC
274.32
496,625
6,722,472
-75
235
177.00
201.00
24
0.45
0.33
0.13
1.66
10.0
7.82
Includes 0.3m of Core
Loss
LCG-
009
MC
280.72
496,658
6,722,561
-60
245
83.00
85.00
2
1.74
0.62
1.40
3.15
49.0
1.25
184.00
187.00
3
1.01
0.97
0.02
2.30
2.7
2.91
194.00
223.00
29
1.14
0.83
0.32
6.60
8.5
24.09
Incl.
194.00
205.00
11
2.29
1.67
0.63
13.98
6.0
18.36
Or
199.00
205.00
6
2.89
2.02
0.91
17.71
10.4
12.13
LCG-
009D1
MC
242.04
496,659
6,722,561
-65
265
40.00
41.00
1
2.34
1.55
0.83
15.00
19.0
1.55
83.00
86.00
3
1.18
0.94
0.26
4.57
5.7
2.81
206.20
242.04
35.84
1.59
1.35
0.21
8.01
14.7
48.33
EOH
Incl.
221.60
242.04
20.44
2.55
2.17
0.34
12.84
13.3
44.41
EOH
LCG-
009D2
MC
248.72
496,659
6,722,561
-55
261
65.00
67.00
2
0.76
0.66
0.09
2.8
39.0
1.32
134.70
138.00
3.3
0.62
0.50
0.13
1.6
44.0
1.64
Includes 0.3m of Lost
Core
167.00
175.70
8.7
2.36
2.06
0.13
20.97
5.0
17.96
Ends in Core Loss
from 175.7 to 180m
170.00
174.30
4.3
3.91
3.41
0.22
34.9
6.0
14.68
LCG-
010
MC
156.06
496,514
6,722,726
-45
246
NSA
LCG-
010D1
MC
198.12
496,514
6,722,726
-55
65
188.00
189.00
1
2.69
1.28
1.61
16.9
14
LCG-
011
MC
86.26
496,631
6,722,678
-60
245
Assays Pending - Hole
Suspended for
Change of Season
3,668
Hole
ID
Target
Depth
East
North
Dip
Azim
Note
From
To
Interval
(m)
CuEq
(%)
Cu
(%)
Au
(g/t)
Ag
(g/t)
Mo
(ppm)
CuPCM
(Cu*
Int)
Remarks
Table 1:
Chief's Trend Significant Intersections (Recent Drilling)
Copper Equivalent (CuEq) was based on the following assumed metal prices on the 21 April 2024 of $US 9.876 per tonne Cu, $2,390 per Ounce Au
& US$28.69 per Ounce Ag. Mo was excluded from the calculation and recovery is assumed to be 100% as no metallurgical test work has been
completed.
Drilling has now defined unmined, near surface magnetite-copper skarn mineralization over more than
600m's of strike north of the historical mining operations at Little Chief.
Historical drilling at the Chiefs Trend prospects was selectively sampled for copper only. Given the
recent significant gold intervals returned from these initial assay results Gladiator intends to assay all
future drilling and sampling for additional credits including gold, silver and molybdenum which were
proven significant contributors to the economics of historic operations at Little Chief.
QA / QC and Data Verification
Drilling completed by Gladiator was irregularly spaced to test parts of the mineralized systems, holes
were directionally surveyed utilising a North Seeking Gyro direction tool. Drill collars were or are to be
subsequently surveyed utilising a high-accuracy RTK DGPS system.
Upon drilling of diamond core Gladiator undertakes geological logging, marking up of lineal length of the
core, recording core recovery, Geotech measurements such as RQD's and undertakes core
photographs.
Based on the geological logging, core 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 utilizing a core saw equipped with a diamond saw blade. The core samples are then sent for
analysis and the remaining half 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 20
samples to monitor the Laboratory. Samples are submitted to the ALS Global Laboratory (Canada).
Samples subject to this release were crushed to 70% less than 2mm before pulverizing to better than
85% passing 75 microns. Samples were then analysed by ALS method ME-ICP61 (Aqua Regia with
ICP-MS finish), with over limits for Cu analysed by method CU-OG62 (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. The QA/QC meets the current
required standards under reporting instruments, such as NI-43-101. At this point the Company regards
the data collected from this exercise as reliable for the purposes of identifying mineralization and future
exploration targets and may be used to inform future drilling and exploration campaigns.
For information regarding QA/ QC and Data verification for the Historically Reported Intercepts, please
refer to the Company's release dated 18
th
January, 2024 "
Gladiator Commences Drilling at the Middle
Chief Copper Prospect"
or the Company's release dated 16
th
November, 2023 "High-Grade Copper
Mineralization Identified at Middle Chief & Class 1 Permit Extension Granted". Please note the
Company believes that the historical drill results do not conform to the presently accepted
industry standards.
The historical mineral resources discussed in this press release were calculated using mining industry
standard practices for estimating Mineral Resource and Mineral Reserves prior to the implementation of
the current CIM standards for mineral resource estimation (as defined by the CIM Definition Standard on
Mineral Resources and Mineral Reserves dated May 10, 2014). The reader is cautioned not to treat
them, or any part of them, as current mineral resources or reserves. An independent Qualified Person
('QP'), has not done sufficient work to classify the estimate discussed as current mineral resources or
reserves and therefore the estimate should be treated as historical in nature and not current mineral
resources or mineral reserves. The historical resources have been included simply to demonstrate the
mineral potential of the Whitehorse Copper Project. A thorough review of all historical data performed by
a QP, along with additional exploration work to confirm results, would be required in order to produce a
current mineral resource estimate for each of the key prospects.
For greater certainty, the Company
confirms that it does not have a current mineral resource on any part of its Whitehorse Copper Project.
Where Copper Equivalents have been stated, Assumptions of the pricing are referenced in the tabulated
results and recovery is assumed to be 100% as no metallurgical data is available. The following
equation was used to calculate copper equivalence:
Copper Equivalent (CuEq) = ((Cu% * CuPrice 1% Per Tonne) + ((Au (g/t) x (AuPrice/31.105)) + ((Ag (g/t)
x (AgPrice/31.105))) / CuPrice 1% Per Tonne
Molybdenum is excluded from the Little Chief Calculation as historically it has not been referenced.
References:
Watson P.H. (1984) The Whitehorse Copper Belt - A Compilation. Yukon Geological Survey, Open File
1984-1.(
https://data.geology.gov.yk.ca/Reference/42011#InfoTab
)
Tenney D. (1981) - The Whitehorse Copper Belt: Mining, Exploration and Geology (1967-1980).
(
https://ia802508.us.archive.org/18/items/whitehorsecopper00tenn/whitehorsecopper00tenn.pdf
Marketing Campaign Services Agreement
The Company has entered into a service agreement with Native Ads, Inc. dated May 6th, 2024, pursuant
to which Native Ads will provide a marketing campaign for a total retainer of up to US$150,000, with a
term of up to twenty-four months or until the retainer is depleted.
Under the Agreement, Native Ads will
execute a comprehensive digital media advertising campaign for the Company, where approximately
75% of the campaign budget will be allocated to cost per click costs, media buying and content
distribution, and search engine marketing. The remaining budget will be allocated for content creation,
web development, advertising creative development, search engine optimization, campaign
optimization, and reporting and data insights services.
Native Ads is a full-service advertising agency
based out of New York and Vancouver, BC.
Native Ads is arms-length to the Company and holds no
interest, directly or indirectly, in the securities of the Company or any right to acquire such an interest.
The engagement of Native Ads is subject to the approval of the TSX Venture Exchange.
Qualified Person
All scientific and technical information in this news release has been prepared or reviewed and
approved by Kell Nielsen, the Company's Vice President Exploration, a "qualified person" as defined by
NI 43-101.
ON BEHALF OF THE BOARD
"
Jason Bontempo
"
Jason Bontempo
President and CEO
For further information contact:
Dustin Zinger, Investor Relations
+1-604-653-9464
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/208297