Gatling Receives Exploration Drilling Permit for Kir Vit and Completes Option at Recently Acquired Kir Vit Property
Vancouver, British Columbia - TheNewswire - July 30, 2019 - Gatling Exploration Inc. (TSXV:GTR), (OTC:GATGF) (the "Company" or "Gatling") is pleased to announce that it has received an exploration permit for the Kir Vit Zone at its Larder Gold Project, located 4 kilometers north of the Cadillac Larder Lake Break ("CLLB") in Ontario. The Company will immediately commence a 3,500 meter drill program focusing on high-grade gold targets and will also select high-priority outcrops to strip and channel sample. Gatling has also completed all terms of the option agreement on the Kir Vit property and now holds the property outright, subject to certain royalties.
News and Project Highlights
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-Exploration Permit Received. The permit covers the northern half of Gatling's newly acquired Kir Vit Property at its Larder Gold Project.
-Drilling and Outcrop Sampling Program. Gatling will immediately commence a 3,500-meter drill program targeting intrusion related and conglomerate gold mineralization. Diamond drilling will focus on the gold bearing quartz veins within the felsic intrusive and volcanic units. Outcrop stripping will also be completed in areas that have significant surface gold values.
-Increased Land Position. Kir Vit property is 1,274 hectares and located 4 kilometers north of the CLLB. This has increased the size of the Larder Gold Project, which hosts three high-grade gold deposits, to 3,370 hectares in total.
-Multiple Surface and Drill Targets. The new surface and drill-ready gold targets include intrusion related mineralization, Timiskaming conglomerate mineralization, and geophysical anomalies, that are located along the Nettie Lake Gold trend (Figure 1). The new targets also trend along strike of Agnico Eagle's Upper Beaver deposit, which has an indicated mineral resource of 1,461,000 oz Au at 6.62 g/t Au with 56,006,000 lbs. Cu at 0.37% Cu (6,870,000 t) and an Inferred resource of 712,000 oz Au at 4.85 g/t Au with 32,218,000 lbs. Cu at 0.32% Cu (4,570,000 t).1
Recent and Historical Exploration Activity
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-Successful Historic Drilling. 45 historical drill holes were completed from the 1930's to the 1980's. Grades encountered were 41.6 g/t Au over 2.2 meters, 29.7 g/t Au over 0.9 meters, 56.9 g/t Au over 0.6 meters, and 3.4 g/t Au over 0.8 meters.
1 (Technical Report on the Upper Beaver Gold-Copper Project, Ontario, Canada, SRK Consulting, September, 2012)
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-Historical Development. A shaft was developed to 275 feet with two sub-levels at 200 and 250 feet to further explore the Kir Vit mineralization at depth.
-Comprehensive Surface Sampling Program. Teck completed soil and rock sampling between 2016 and 2017. Rock samples outlined two distinct geological trends (Porphyry and Conglomerate) within a newly discovered hydrothermal footprint. Gold values recovered from surface samples include 7.9 g/t Au, 6.6 g/t Au and 5.7 g/t Au (Figure 2).
-Geophysical Anomalies. In 2017, geophysics was completed on a grid overlaying the Kir Vit shaft, Porphyry and Conglomerate trends. Strong anomalies were identified under the conglomerate and porphyry trends (Figure 3). This indicates mineralized potential at depth.
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Figure 1. Larder Gold Project showing deposits and prospects with regional gold trends.
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Figure 2. Kir Vit geology with historic surface samples and regional structures
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Figure 3. Kir Vit IP geophysics with drilling, surface geology and surface samples
About Gatling Exploration
Gatling Exploration is a Canadian gold exploration company focused on advancing the Larder Gold Project, located in the prolific Abitibi greenstone belt in Northern Ontario. The Larder property hosts three high-grade gold deposits along the Cadillac-Larder Lake Break, 35 kilometers east of Kirkland Lake. The project is 100% controlled by Gatling and is comprised of patented and unpatented claims, leases and mining licenses of occupation within the McVittie and McGarry Townships. The 3,370 hectare project area is positioned 7 kilometers west of the Kerr Addison Mine, which produced 11 million ounces of gold. All parts of the Larder property are accessible by truck or all-terrain vehicles on non-serviced roads and trails.
Qualified Person
The technical content of this news release has been reviewed and approved by Nathan Tribble, P. Geo., VP Exploration of Gatling Exploration and a Qualified Person pursuant to National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President and CEO
For further information on Gatling, contact Investor Relations
Telephone: 1-888-316-1050
Email: ir@gatlingexploration.com
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Forward Looking Statements: Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward-looking statements. Although we believe that the expectations in our forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
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