Gladiator Metals Enters into Binding Drilling Contract Drilling at the Advanced High-Grade Copper Cowley Park Prospect to Commence Mid-April 2023 Gladiator has engaged Kluane Drilling Limited, a global drilling company with more than 35 years
Gladiator Metals Enters into Binding Drilling
Contract
Drilling at the Advanced High-Grade Copper Cowley Park
Prospect to Commence Mid-April 2023
Gladiator has engaged Kluane Drilling Limited, a global drilling company with more than 35 years
of experience headquartered in Whitehorse, Yukon.
Gladiator has committed to drilling an initial ~3,000m of diamond core targeted at Cowley Park, a
high-grade copper prospect area.
Gladiator is also establishing a core processing facility to log and process an estimated 10,000
metres of backlogged uncut core.
Vancouver, British Columbia--(Newsfile Corp. - March 20, 2023) -
GLADIATOR METALS CORP.
(TSXV: GLAD)
(OTC Pink: GDTRF) ("
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 report
the Company has entered into a binding drilling contract to commence
drilling at the advanced and high grade copper Cowley Park prospect from mid April, 2023.
Gladiator has engaged Kluane Drilling Limited, a global drilling company with more than 35 years of
experience who are headquartered in Whitehorse, YT.
Gladiator has committed to drilling an initial ~3,000m of diamond core targeted at Cowley Park, a high
grade copper prospect area, to lay the foundations of establishing a future copper mineral resource. The
3000m drilling program will focus on confirming and extending mineralization at the Cowley Park
prospect area.
Additionally, Gladiator is well advanced in establishing a core processing facility in Whitehorse to
process and log drill core
, including processing an estimated 10,000 metres of backlogged uncut
core collected from previous drilling campaigns.
Gladiator has continued to identify significant near-term shallow exploration targets outside of the historic
areas of operation at the Whitehorse Copper Project, supported by the ongoing collation of historical
drilling data.
Exploration Update
The Company is currently undertaking a significant data compilation and review of the available historic
data, including drilling over the greater tenement package. This work has identified a number of 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 clastic and
carbonate metasediments. Cumulatively, there is more than 35km of underexplored strike on the contact
which is highly prospective for high-grade Copper+/-Molybdenum+/-Silver+/- Gold (refer to Figure 1
below).
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 projects proximity to Whitehorse and a strong partnership with the owners of the Whitehorse
Copper Project, an experienced local mining service provider.
Figure 1: Plan map of the Whitehorse Copper Project showing geology and location of key prospects
within the main trend.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1930/158996_9ed508829437e9db_002full.jpg
Reference to historic resources on the Whitehorse Copper Project, refer to and are based solely on a
report by Watson, P.H, 1984, entitled "The Whitehorse Copper belt - A Compilation, prepared for the
Yukon Geological Survey" that can be accessed at
https://data.geology.gov.yk.ca/Reference/42011#InfoTab
.
The historical mineral resources discussed in this press release were calculated using mining industry
standard practices of the applicable time period for estimating Mineral Resource and Mineral Reserves
prior to the implementation of the current CIM Definition Standards for mineral resource estimation (as
defined by the CIM Definition Standard on Mineral Resources and Mineral Reserves dated May 30,
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.
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.
Market Making and Investor Relations
The Company has retained Generation IACP Inc. ("IACP") to provide market making services in
accordance with TSX Venture Exchange ("TSXV") policies. IACP is a company based in Toronto which
is in the business of providing market making services to publicly listed companies. IACP will trade the
securities of Gladiator on the TSX Venture Exchange for the purposes of maintaining an orderly market.
In consideration of the services provided by IACP, Gladiator will pay IACP a monthly cash fee of
CAD$7,500, for a minimum term of six months, for aggregate consideration of CAD$45,000, which will
be paid from the Company's general working capital. The Company's engagement of IACP is renewable
after the initial six month term. Gladiator and IACP are unrelated and unaffiliated entities. IACP will not
receive shares or options as compensation. IACP does not have any interest, direct or indirect, in the
Company or its securities nor does it have any right or intent to acquire such an interest; however, IACP
and its clients may acquire a direct or indirect interest in the securities of the Company from time to time.
The capital used for market making will be provided by IACP. IACP is a registered broker and member
of the Investment Industry Regulatory Organization of Canada, the TSXV and the Canadian Securities
Exchange, and is a Participating Organization as such term is defined in the rules and policies of the
Toronto Stock Exchange.
The Company has entered into a consulting agreement with GRA Enterprises LLC ("GRA"), a United
States based investor communication and media services provider, pursuant to which GRA will provide
the Company with investor relations services. The consulting agreement has a term of twelve (12)
months, unless terminated earlier in accordance with its terms. The investor relations services provided
by GRA will be in consulting with the Company's management in building investor awareness of the
Company through GRA's network in North America. As consideration for the provision of the investor
relations services and in accordance with the terms and provisions of the consulting agreement, the
Company will pay GRA a fee of US$100,000, which is payable at the beginning of the twelve month term
and will be paid from the Company's general working capital. GRA and its' principal are arm's length
from the Company and do not have any interest, direct or indirect, in the Company or its securities nor do
they have any right or intent to acquire such an interest. The Company's engagement of GRA is subject
to the acceptance of the TSXV.
The Company has entered into a consulting agreement with Marco Messina ("Messina"), a German
based communications and media services provider, pursuant to which Messina will provide the
Company with investor relations services.
The consulting agreement has a term of nine (9) months,
unless terminated earlier in accordance with its terms. The investor relations services provided by the
Messina will be in consulting with the Company's management in building investor awareness of the
Company through Messina's network in Europe.
As consideration for the provision of the investor
relations services and in accordance with the terms and provisions of the consulting agreement, the
Company will pay Messina a fee of EUR100,000, which is payable at the beginning of the twelve month
term
and will be paid from the Company's general working capital. Messina is at arm's length from the
Company and Messina does not have any interest, direct or indirect, in the Company or its securities nor
does Messina have any right or intent to acquire such an interest. The Company's engagement of
Messina is subject to the acceptance of the TSXV.
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 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.
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).
Given the proximity to Whitehorse, the Project will benefit from all year access, excellent infrastructure
(local Yukon miner Minto Metals currently export copper concentrate from nearby Skagway) and a strong
relationship with local partners for drilling services and developing positive community relations. With
global copper metal demand currently forecast to outstrip future supply due to the global government's
coalition focus on developing electric vehicle and clean energy markets for Net Zero 2050, the Project
provides excellent exposure to potential high grade significant copper resources in a stable tier 1
jurisdiction.
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/158996