Gander Gold Adds Target Areas, Advances RAB Drilling at Gander North

VANCOUVER, BC / ACCESSWIRE / June 22, 2023 / Gander Gold Corp. ("Gander" or the "Company") (CSE:GAND)(OTCQB:GANDF), is pleased to provide an exploration update on its wholly-owned 485-sq. km Gander North Project.

Highlights

• Further to its news release of April 5, 2023, Gander Gold has now identified at least 14 high-priority target areas - several up to 8 or 9 km in length - across Gander North (see details and Figure 1 below) as momentum builds toward a potential new gold discovery in Newfoundland at a project where no previous drilling or systematic exploration had ever occurred;
• Gander Gold has completed 19 RAB (rotary air blast) holes in 3 of the 14 target areas to date with first-ever RAB drilling continuing;
• RAB drilling is testing Au-in-soil anomalies coincident with prominent structures as defined by airborne MAG-VLF and LiDAR surveys once ground truthing exercises are completed;
• LiDAR data and images suggest that the northeast trending structure which hosts New Found Gold's Iceberg Discovery Zone may continue further to the northeast and traverse the width of Gander Gold's Gander North Project area.

Mr. Shawn Ryan, Gander Gold Technical Adviser, commented: "Gander North has progressed remarkably since I first staked this virgin ground two-and-a-half years ago ahead of the 2021 Newfoundland Gold Rush. Textbook exploration methods have been applied at Gander North, creating the opportunity for the discovery of an entirely new gold trend on the island adjacent to the GRUB Line. We're following the science. The data is very compelling, and the ultimate outcome could be a game-changer for Newfoundland gold exploration."

RAB Drilling

RAB drilling is an advanced exploration tool designed to prioritize the most prospective first-ever diamond drill targets for the next phase at Gander North. RAB drill hole targeting is performed by combining airborne MAG/VLF data, with LiDAR, soil geochemistry results, ground VLF-EM profiles and geological mapping, as required.

Handheld XRF measurements are being taken on a homogenized sample generated for every 1.52m RAB drill rod, prior to samples being sent for assay. Additionally, a televiewer tool is being inserted in each drill hole to aid in identifying and plotting structure and geology at depth. Preliminary results suggest Gander's methodology is succeeding at intersecting targeted structures while minimizing the environmental impact. Historically, excavation activities are undertaken at this exploration stage where outcrop is not abundant. In addition to limiting the environmental footprint of the work being performed, Gander's methodology also aids in favourably managing cost and execution speed of the program.