Sassy Gold Corp (CSE:SASY, OTCQB:SSYRF) said that spin-out company Gander Gold Corp has identified a potential major new gold trend within the Gander gold belt as the 2022 exploration program continues at its 485 square kilometre (sq km) Gander North project in Newfoundland.
Gander Gold, which launched on the CSE in March of this year and has combined ownership of 63% between Sassy Gold and Eric Sprott, said the trend starts around 12 km east of the GRUB Line and 25 km east of the Appleton trend that hosts the New Found Gold and Labrador Gold high-grade discoveries.
In a statement, Shawn Ryan, Gander Gold technical adviser, said: “Broad areas of Gander North are lighting up from our Phase 1 Soil Sampling Program. Results from our 2021 Airborne Mag/VLF and LiDAR surveys are in and have been very helpful in adding the next layer of detail interpretation needed to advance the Phase 2 soil work.”
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He added: “It is remarkable how this previously unexplored area has suddenly become a ‘hot spot’ for potential new gold discoveries in Newfoundland along what clearly appears to be an entirely new gold trend east of the GRUB Line. We eagerly anticipate results from this summer’s work as we progress toward RAB drilling to prioritize the most prospective diamond drilling targets.”
Highlights of the Gander Gold exploration program include:
- A main northeast-trending strike-slip shear zone extends more than 25 km across Gander North and remains open to the northeast;
- Numerous north-northeast trending dilational zones also cut across Gander North and could add significant economic potential to the property;
- In total, these zones already provide greater than 100 linear kilometers of structure which is highly prospective for gold;
- Abundant geochemical anomalies generated from 8,273 soil and till samples (2021) coincide with results from a recently completed airborne Mag/VLF geophysical survey and a LiDAR survey;
- 192 soil samples ranged in grade between 25.1 parts per billion (ppb) gold and 1,432 ppb gold, considered high for Newfoundland;
- The best outcropping quartz veins, identified initially with high-resolution satellite and aerial photos, occur within the dilational zones and represent immediate targets for ground follow-up.
Contact the author at jon.hopkins@proactiveinvestors.com