Gatling Exploration Inc. (TSX-Venture:GTR) is just picking up steam. On Monday, when most of investors’ attention was focused on the energy sector, the Vancouver-based junior miner announced an increase of its current drill program to 35,000 metres.
A news release out Monday also said the program had already hit key milestones by confirming high-grade lenses and extending the Bear and Cheminis deposits with multiple holes.
Gatling says it will use the bulk of the expanded program to continue developing the four-kilometre mineralized trend along the Cadillac Larder Lake Break in Northern Ontario, using aggressive step-out drilling.
For example, Gatling has drilled over 13,000 meters at the Bear deposit and has encountered intercepts including 20.7 grams per ton gold (g/t Au) over 6.1 metres and 10.6 g/t Au over five metres. At Cheminis, Gatling has completed over 2,500 metres of drilling at the Cheminis deposit and has drilled grades such as 12.3 g/t Au over five metres.
Investors warmed to the news, bidding the shares up late Monday morning by seven cents, or 12.1%, to 65 cents, on close to 110,000 shares.