In a statement Thursday, the company said it is targeting “aggressive zone growth” on three zones in an effort to prove up mineralization along the continuous 4.5 kilometre strike.
Additional holes will follow up on previous drilling at the Kir Vit prospect, where channel samples from shear zones graded up to 16.2 grams per tonne (g/t) gold over one metre at surface in 2020.
Outlining its strategy, Gatling told shareholders that it will dedicate around 13,500 metres targeting near surface gold mineralization along strike and at depth at the Fernland deposit. Another 3,000 metres will go towards expanding the Cheminis deposit and an additional 4,500 metres will focus on expanding the Bear deposit along strike and up plunge. The remaining 4,000 metres are planned for Kir Vit.
Larder Gold project long section showing the new gold mineralized zones identified from recent drilling and target areas for the H1 2021 drill program.
Vancouver-based Gatling is currently preparing to complete an updated resource estimate at Larder and conduct initial pit and/or underground stope optimization models for the three deposits. The company will also embark on a field program to investigate new targets identified during its 2020 campaign.
“With this new 25,000 m drill program already underway, Gatling aims to accelerate the advancement of the Larder gold project in Ontario,” Gatling CEO Jason Billan told investors in a statement.
“We will be targeting comprehensive growth at all three high-grade zones, progressing our new Kir Vit prospect, and drill testing select regional targets. 2020 drilling hit a series of important milestones, and we are looking forward to showcasing the quality asset that Larder is over the next twelve months.”
Also on Thursday, Gatling informed investors that it has about 39 million shares issued and outstanding following a recent $4.6 million financing and share consolidation. The company noted that institutional investors accounted for nearly 65% of the financing.
Contact Angela at [email protected]
Follow her on Twitter @AHarmantas
Story by ProactiveInvestors
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