Is This The Next Big Gold Discovery In Newfoundland? Early Indications Point To It

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Friday, July 7, 2023

Make a list of essentials for an exhilarating new gold rush and watch as Newfoundland starts checking all those boxes. Historic mining, swaths of virgin land, friendly regulations, favorable geology, year-round exploration, and great infrastructure are all part of Newfoundland’s mining environment, making it a great place to explore for gold. And let’s not forget about New Found Gold’s (NYSE-American: NFGC) (TSX-Venture: NFG) Keats Zone discovery that continues to return many high-grade cuts, including 146 g/t Au over 25.6 meters that sparked a wild staking rush in early 2021.  

Gold rushes in a district can sometimes occur in waves over many years, and the next wave could be just around the corner in Newfoundland.  

Junior miners, such as Labrador Gold (TSX-Venture: LAB) (OTCQX: NKOSF), Canstar Resources (TSX-Venture: ROX) (OTC: CSRNF), and Gander Gold (CSE: GAND) (OTCQB: GANDF) have positioned themselves exceptionally well in the area, looking to add to the 10+ million ounces of gold produced since the metal was first discovered in the province in 1861. Gander was prescient in its focus on Newfoundland, getting ahead of the pack by building a strong land position before the 2021 rush started to now control a massive 2,259 sq. km in some of the most coveted areas Newfoundland mining has to offer.

Of particular note is Gander Gold’s Gander North Project which is on a parallel trend to the east of New Found Gold’s Keats Zone. Gander has conducted some of the most extensive soil sampling ever carried out by a junior in Newfoundland, to the tune of about 40,000 samples. They are using that data and their keen understanding of surface geology and geophysics to delineate high-priority diamond drill targets. This has long been the strategy of Shawn Ryan, a technical advisor to Gander, a method of “hunting” that Ryan has used to find billions of dollars’ worth of gold during his spectacular career.

Gander’s meticulous early exploration has identified at least 14 major target areas at Gander North, some extending up to 9 km in length. First-ever RAB (rotary air blast) drilling recently started at Gander North and the company came out with the first bits of encouraging data June 22. RAB drilling is an advanced exploration tool designed to prioritize the most prospective diamond drill targets for the next phase at Gander North.

Gander Gold had completed 19 RAB holes in 3 of the 14 target areas as of June 22, with drilling ongoing. Geologists are testing gold-in-soil anomalies coincident with prominent structures as defined by airborne MAG-VLF and LiDAR surveys. LiDAR data and images suggest that the northeast trending structure which hosts New Found Gold's new Iceberg Discovery Zone may continue further to the northeast and traverse the width of Gander Gold's Gander North Project area.

“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,” commented Shawn Ryan in a press release on the drilling. He added, “We're following the science. The data is very compelling, and the ultimate outcome could be a game-changer for Newfoundland gold exploration.”

Ian Fraser, Gander Gold’s VP Exploration, chimed in, calling it a “luxury” to have so many high-quality exploration targets. He speaks without hyperbole, as all the evidence is pointing in one direction – to the strong potential of a new grassroots high-grade gold discovery at Gander North, and/or at one or more of the company’s other 7 projects.

Newfoundland checks all the boxes, just like Gander Gold’s project portfolio.

If there’s an emerging theme in the hunt for gold in Newfoundland right now, the current relative calm likely won’t last much longer. One or more companies, in addition to New Found Gold, is likely to hit big, and when that happens the gold rush will enter another exciting new phase. Gander is unique in that none of its properties has ever been previously diamond drilled, so “blue sky” potential actually means something in this case.  

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Gander Gold Corp. (CSE: GAND) (OTCQB: GANDF) Full Corporate Write-Up: Click Here.

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