October 3, 2024 TSX-V: GLAD
GLADIATOR ASSAYS 10.8m at 4.31% CuEq within 45m at 1.76% CuEq AND DRILLS 8m @ 3.72% CuEq within 109.77m @ 1.05% CuEq AT COWLEY PARK
Highlights
Gladiator CEO Jason Bontempo commented:
“Assay results returned continue to define the near surface continuity and scale of high-grade copper skarn mineralization at Cowley Park. These assay results also importantly provide further definition to the potentially significant coincident molybdenum-gold and silver mineralization which materially increases the potential value where credits can be applied.
Assay results include 4 holes that are the first from Gladiator’s recently completed campaign of 32 holes for 5,623m at Cowley Park are part of Gladiator’s fully funded 13,000m summer drilling campaign testing exploration targets and extensions to zones of known, high-grade, copper-skarn mineralization to demonstrate the near-term resource potential of our lead prospects including Cowley Park, Arctic Chief, Best Chance and the Cub trend.
I look forward to reporting the remainder of the assays from Cowley Park in the coming weeks."
*Copper Equivalent (CuEq) was based on the following assumed metal prices on the 1st October 2024 of $US 9.983 tonne Cu, $US2,662 Oz Au, $US31.00 Oz Ag & $US47,598 t Mo. Recovery is assumed to be 100% as no metallurgical test work has been completed. The equation used to CuEq is stated within the QAQC Section of this release.
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VANCOUVER, B.C. – October 3, 2024 – Gladiator Metals Corp. (TSX-V: GLAD) (OTC: GDTRF) (FSE: ZX7) (“Gladiator” or the “Company”) is pleased to provide an update on exploration activities at the Whitehorse Copper Project. Where 32 Diamond drillholes (CPG-031 -062) for 5,623m of drilling have now been completed at the Cowley Park prospect with assay results returned from the first 4 holes (refer Table 1 for details). Drilling was designed to target both confirmation of the resource potential and the exploration upside of the near surface high-grade copper skarn mineralization at Cowley Park.
Assay results from the first of 4 of a total of 32 holes (535m’s total) drilled by Gladiator include:
These early assays results are from a continuous section line completed across the mineralized body, reducing drill spacing to approximately 35m between holes (Figures 1 & 2) to assess the prospect ahead of resource delineation drilling planned for 2025. Assays continue to show broad widths of near surface copper (+/-molybdenum-gold and silver) mineralization envelopes containing discrete and continuous higher grade (>1% Cu) zones of mineralization.
Assays are anticipated from a further four holes on the same section line in the coming weeks. These holes targeted the flattening of the granite-skarn contact, which is the primary control on copper mineralization, to the south. Results pending.
Although these results have yet to have been received, results returned recently from the sampling of historical hole CP-150 (including 17.18m @ 1.0% Cu (1.25% CuEq) from 86.94m and 9m @ 1.05% Cu (1.59% CuEq) from 112m) provides confidence that mineralization will extend beyond the currently drilled area.
In addition, Gladiator completed further sampling of unassayed or partially assayed historical drill core from Cowley Park in preparation for the diamond drill campaign, sampling and assaying returned significant results that were previously unannounced, including:
These results provide further context and confidence for Gladiators future drilling campaigns at Cowley Park.
Figure 2: Plan map of Cowley Park over LIDAR DTM. Gladiator drill collars colored by sum Cu% x Length (m), historical collars marked. Drill results subject to this release highlighted only.
Table 1: Recently returned drill assay results from Cowley Park along with recently returned assays from historical core. Copper Equivalent (CuEq) was based on the following assumed metal prices on the 1st October 2024 of $US 9.983 tonne Cu, $US2,662 Oz Au, $US31.00 Oz Ag & $US47,598 t Mo. Recovery is assumed to be 100% as no metallurgical test work has been completed. The equation used to CuEq is stated within the QAQC Section of this release.
Cowley Park – Drill Targeting
The recently concluded diamond drilling at Cowley Park was designed to target:
Gladiator looks forward to updating the market in the coming weeks with results from a further 28 diamond holes (5,088m) completed and submitted to the laboratory for assay.
Exploration Strategy
The recently completed drilling at Cowley Park (5,623m) formed part of a planned 13,000m, summer drilling campaign targeting high-grade copper skarns throughout the Whitehorse Copper Belt by way of:
1-Advancing to resource definition at:
2 – Exploration drilling at: Arctic Chief: 2,500m. Highlight continuity of high-grade near surface copper and gold mineralisation for future resource drilling.
Drilling will be complemented by planned geophysical programs including Induced Polarization (ongoing), Electromagnetic and Magnetic surveys to help refine drill targeting in the prospect areas and highlight undiscovered areas of exploration potential.
QA / QC
Where Copper Equivalents have been stated, Assumptions of the pricing are referenced in the tabulated results and recovery is assumed to be 100% as no metallurgical data is available. The following equation was used to calculate copper equivalence:
Copper Equivalent (CuEq) = ((Cu% * CuPrice 1% Per Tonne) + (Au (g/t) x (AuPrice/31.105)) + (Ag (g/t) x (AgPrice/31.105)) +(Mo% * MoPrice 1% Per Tonne)) / CuPrice 1% Per Tonne
Drilling completed by Gladiator was irregularly spaced to test parts of the mineralised systems, holes were directionally surveyed utilising a North Seeking Gyro direction tool. Drill collars were being subsequently surveyed utilising a high-accuracy RTK DGPS system.
Upon drilling of diamond core, Gladiator undertakes geological logging, marking up of lineal length of the core, recording core recovery, and Geotech measurements such as RQD’s and taking core photographs.
Based on the geological logging, core is then marked up for sampling with a new sampling ticket that matches the submitted sample for analysis at the start of the sample interval, the drill core is then cut in half utilizing a core saw equipped with a diamond saw blade. The core samples are then sent for analysis and the remaining half core retained for future reference. Certified Reference Materials (CRMs) or known blank material is placed within the sampling sequence at a nominal sampling rate of 1 in 25 samples to monitor the Laboratory. Samples are submitted to the ALS Global laboratory (Canada).
As part of the processing and capturing of the previously unassayed drill core, Gladiator is undertaking a systematic review of the available drill core after being retrieved from storage. This includes a review of the geological logging, marking up of lineal length of the core, undertaking a comparison of the physical ticketed sampling against historic documentation where noted, remarking any notations on the core box (including hole number, box number and nominal depths) and taking core photographs.
After the systematic review, if the core is required to be sampled or resampled where it is deemed to not match the historical record of the hole, it is then marked up for sampling with a new sampling ticket that matches the submitted sample for analysis at the start of the sample interval, the drill core is then cut in half (for un-cut core) or quartered (for resampled core where required) utilizing a core saw equipped with a diamond saw blade. The core samples are then sent for analysis and the remaining half (or quarter core) retained for future reference. Certified Reference Materials (CRMs) or known blank material is placed within the sampling sequence at a nominal sampling rate of 1 in 25 samples to monitor the laboratory. Samples are submitted to the ALS Global laboratory (Canada).
Samples subject to this release were crushed to 70% less than 2mm before pulverizing to better than 85% passing 75 microns. Samples were then analysed by ALS method ME-ICP61 (Aqua Regia with ICP-MS finish), with over limits for Cu analysed by method CU-OG62 (Aqua Regia with ICP-MS finish). As part of this process, Gladiator also captures the required sampling metadata to potentially utilize the core and analysis for any future requirements if deemed acceptable. The QA/QC meets the current required standards under reporting instruments, such as NI-43-101. At this point, Gladiator regards the data collected from this exercise as reliable for the purposes of identifying future exploration targets and may be used to inform future drilling and exploration campaigns.
As part of this process, Gladiator also captures the required sampling metadata to potentially utilize the core and analysis for any future requirements if deemed acceptable. Further drilling will need to be completed by Gladiator at some stage to confirm the reliability or usability of this data in the future including but not limited to twinning of reported mineralization. This may be required as Gladiator may not be able to confirm the accuracy of the stated drill collar location or be able to re-enter the holes to confirm depths and undertake directional surveys, or that the QA/QC might not meet the current required standards under reporting instruments, such as NI-43-101. At this point the Company is treating the data collected from this exercise as reliable for the purposes of identifying future exploration targets and may be used to inform future drilling and exploration campaigns.
In reference to historic drill results reported in this news release from the Company’s data compilation exercise, these results are historical in nature. Gladiator has not undertaken any independent investigation, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The Company believes that the historical drill results currently do not conform to presently accepted industry standards. Gladiator considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration and drilling programs. The Company also considers the data to be reliable for these purposes, however, the Company's future exploration work will include verification of the data through drilling. Please refer to the Company’s previous news releases regarding Cowley Park for further details.
Qualified Person
All scientific and technical information in this news release has been prepared or reviewed and approved by Kell Nielsen, the Company’s Vice President Exploration, a “qualified person” as defined by NI 43-101.
Digital MarketingAgreement
Gladiator further reportsthat it has entered into an agreement with Machai Capital Inc. (“Machai”) datedOctober 2nd, 2024, pursuant to which Machai will provide a digital marketingcampaign. The term of the agreement is for three months for a total retainer of$150,000 plus GST, to be paid as services are provided and invoiced againstmarketing campaign spend.
Under the agreement, Machaiwill execute a comprehensive digital media marketing campaign for the companycommencing in October, including branding, content creation and dataoptimization services, including search engine optimization, search engine marketing,lead generation, digital marketing, social media marketing, e-mail marketingand brand marketing.
Machai is amarketing, advertising and public awareness firm based out of Vancouver, B.C.,specializing in advertising and public awareness in the metals and mining,technology, and special-situation sectors. Machai and its principal, SunealSandhu, are arm's length to Gladiator and hold no interest, directly orindirectly, in the securities of Gladiator or any right to acquire such aninterest (Mr. Sandhu can be reached at suneal@machaicapital.com). The engagement of Machai issubject to the approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD
“Jason Bontempo”
Jason Bontempo
CEO
For further information contact:
Caitlin Cheadle, Investor Relations
+1-778-403-5139
ccheadle@gladiatormetals.com
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Certain of the statements and information in this news release constitute “forward-looking statements” or “forward-looking information”. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “believes”, “plans”, “estimates”, “intends”, “targets”, “goals”, “forecasts”, “objectives”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) that are not statements of historical fact may be forward-looking statements or information..
Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company’s properties; the effect of changes in commodity prices; regulatory risks that development of the Company’s material properties will not be acceptable for social, environmental or other reasons; availability of equipment (including drills) and personnel to carry out work programs; and that each stage of work will be completed within expected time frames. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.
The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.
