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Gatling Exploration Inc. (GATGF) announced a marketed private placement to raise up to $5,000,000. This follows a 2-for-1 common share consolidation, reducing outstanding shares from 62,031,340 to approximately 31,015,670. The offering includes 5,454,545 flow-through shares priced at $0.55 and 4,000,000 units priced at $0.50. Proceeds will fund Canadian Exploration Expenses, qualifying as flow-through mining expenditures. Closing is expected on December 15, 2020.
Gatling Exploration (GATGF) reports high-grade gold results from channel sampling at its Kir Vit prospect, part of the Larder gold project in Ontario. Significant results include samples grading 16.2 g/t Au and 8.2 g/t Au, marking the discovery of a third mineralized trend. Previous drill tests reported mineralization in 13 out of 16 holes earlier this year. The new findings will inform a Phase 2 drill program, as stated by VP Exploration Nathan Tribble, highlighting the potential for further high-grade discoveries.
Gatling Exploration Inc. (TSXV:GTR)(OTCQB:GATGF) announced the appointment of Jason Billan as President and CEO, transitioning from Nav Dhaliwal, who becomes Executive Chairman. Billan has a strong background in the mining industry, with previous roles at Salman Partners, RBC Capital Markets, and Nevsun Resources, where he played a key role in significant acquisitions. His appointment aims to advance the Larder project and enhance shareholder relationships, leveraging his extensive network in the mining and capital markets.
Gatling Exploration Inc. (OTCQB:GATGF) has successfully drilled gold mineralization at its Larder project, connecting three high-grade deposits across a 4.5-kilometer strike length. Notable drill results include 4.6 g/t Au over 5.0 meters and 8.7 g/t Au over 2.0 meters. The company plans further drilling to explore near-surface extensions toward the Omega deposit, potentially extending the mineralized area to 5.0 kilometers. A second drill rig is being mobilized to expedite the ongoing 13,000-meter drill program.
Gatling Exploration Inc. (GATGF) has completed a thorough analysis of magnetic and Lidar surveys, identifying five new structural targets for drill testing at its Larder Gold Project in Ontario. These targets, including potential extensions to the Cadillac-Larder Lake Break (CLLB), have not been previously explored. The analysis revealed enhanced definitions of new gold trends and additional drill targets, particularly in the Kir Vit area, which had mineralization in thirteen holes. Gatling plans to prioritize these targets for future drilling, incorporating AI and machine learning through Windfall Geotek.
Gatling Exploration Inc. (TSXV:GTR)(OTCQX:GATGF) announced the commencement of a 13,000 meter drill program at its Larder Gold project in Ontario. The drilling aims to connect the Fernland and Cheminis deposits, creating a continuous 4.5 kilometer mineralized trend. Future phases will explore both the western extension of Fernland and near-surface mineralization across three high-grade deposits. Regional mapping and sampling are also underway to assess priority target areas.