Gander Gold Completes Phase 1 RAB Drill Program at Gander South - Lizard Pond

VANCOUVER, BC / ACCESSWIRE / September 21, 2023 / Gander Gold Corp. ("Gander" or the "Company") (CSE:GAND)(OTCQB:GANDF), is pleased to announce that it has completed its maiden Rotary Air Blast (RAB) drilling program at the Lizard Pond claims, part of the larger Gander South Project located in the southern range of the Gander Gold Belt, south of the Company's Mount Peyton Project (See Figure 1 for Regional Map).

The LZP property (~10.5km ² ) is strategically located along the Dog Bay Line (DBL) which forms the western boundary of what is commonly referred to as the Gander Gold Belt and is approximately 13 kilometers west of Newfound Gold Corp's Queensway South Project. Newfound Gold has previously reported the presence of visible gold and several significant gold intercepts from diamond drilling in the nearby Eastern Pond area.

Prior to this summer's exploration Gander conducted an extensive pre-drilling program at Gander South, which was initiated in 2021 and included the collection of 291 B-C horizon soil samples at Lizard Pond, LiDAR and fixed-wing MAG/VLF surveys, ground VLF surveys and extensive surface prospecting (See Figure 2).

The summer 2023 RAB program at Lizard Pond was designed to target positive soil and rock geochemistry results based on the Au-in-soil anomaly identified in 2021-2022 and consisted of three RAB drillholes totalling 196.6 metres drilled. Soil geochemistry and prospecting located a northeast trending Au-in-soil anomaly spanning approximately 1.0 km in strike in which all samples are equal to or greater than the 97.5th percentile (46.7ppb Au) of soil sampling results generated at Lizard Pond. This Au-in-soil anomaly has a strong Arsenic (As) and Antimony (Sb)-in-soil association. As and Sb are critical pathfinder elements for gold in Newfoundland. Rock geochemistry prospecting results (2022) in the area of the Au-in-soil anomaly returned numerous anomalous Au-in-rock values with notable values greater than 0.5 g/t Au and up to 1.04 g/t Au.

Gander Gold CEO Mark Scott commented, "We are pleased to have completed this first drill program at Gander South - Lizard Pond as well as at Gander North and BLT - Thwart Island. While assay results for drilling at all three projects are pending, planning is underway for first ever drilling at the Goldenrod and Golden Horseshoe zones within the Mount Peyton Project. Further planning is underway for the initiation of the Company's first ever diamond drilling program, which will follow up on the successes from the 2023 RAB program." Mr. Scott added, "The Gander board and officers salute our technical and operations team, as their extensive pre-drilling fieldwork identified targets which point to the successful identification of near-surface gold and base metal mineralization for follow up exploration in multiple zones and projects."