Gander Gold Adds Target Areas, Advances RAB Drilling at Gander North - Seite 2

Gander North Target Areas

Mr. Ian Fraser, VP Exploration for Gander Gold commented: "It is a luxury to have so many high-quality exploration targets. Multiple recent gold discoveries in Newfoundland have defined gold and associated pathfinder elements associated with old, deep-rooted structures. It is becoming more apparent that the splay features or second order features associated with the deep-rooted structures are equally if not more prospective for gold deposits. We're seeing plenty of splay-like features at Gander North."

Gander Gold's follow-up exploration focus at Gander North are areas 1 through 7, 9, 10 and 14 (refer to Figure 1).

Area 1 - Host to Jonathan's Third Pond Copper occurrence where Cu, Pb, Au, Ag mineralization has been recorded and confirmed by Gander Gold field crews.

Area 2 - Occurs immediately adjacent to the GRUB Line and is defined by surficial till anomalies and Gander Gold soil geochemistry results up to 1432.1 ppb Au. Areas 1 and 2 are defined by multi-element soil geochemistry anomalies As, Ag, Bi, Cu, Co, Mo, Ni, Pb and Sb. This multi-element geochemistry signature is indicative of potential mesothermal - epithermal gold mineralization occurring in Areas 1 and 2.

Area 3, 5 - Returned very good Au-in-soil results associated with interpreted north-northeast trending structures that splay off prominent northeast primary structures.

Area 4 - Occurs immediately east of the MAG high where geological mapping has defined favourable structure associated with brecciated weakly mineralized quartz veining.

Area 6 - Defined by high-density soil geochemistry along 10 km of a northeast structure that horsetails at its eastern end to a north-northeast direction. Au, Ag, Bi and Sb soil geochemistry align with the intersection of northeast trending and north-northeast trending structures. Significant quartz veining has been mapped and multiple Au-in-soil results >100 ppb Au occur along this trend.

Area 7 - Similar to Area 6, area 7 was covered by high-density soil geochemistry and returned an Au-in-soil value of 756.1 ppb Au. Parallel to Area 6, northeast trending structures are recognized across this portion of Gander North. Quartz veins outcrop within this area. Coincident with Au-in-soil are Ag, As, Bi and Cu anomalies, while two samples collected by prospectors at the northeast end of Area 7 returned 4,450 ppm Cu and 4,260 ppm Cu occurring in outcrop. Of note, further along strike, approximately 8 km, is the Wing Pond Au showing with up to 12.2 g/t Au.