Galloper Gold Awarded Glover Island EML
Rhea-AI Summary
Galloper Gold Corp (OTC:GGDCF) has secured a significant Exempt Mineral Lands (EML) Mineral License from the Government of Newfoundland and Labrador for the historic Lunch Pond South Extension (LPSE) Resource on Glover Island.
The newly acquired property spans 1,926 hectares and contains a historic resource of approximately 178,800 oz of gold in indicated and inferred categories. The LPSE deposit is part of the 11km Glover Island Trend (GIT), which hosts 17 gold, base metal, nickel, and polymetallic minerals prospects. The property's strategic location along the Cabot Fault, near several productive mines, enhances its potential value.
The company plans to launch an exploration program in fall 2025, focusing on expanding the 2024 Lucky Smoke intercepts and conducting drilling for expansion and definition of the LPSE deposit.
Positive
- Acquisition of EML license adds historic 178,800 oz Au indicated and inferred resource
- Property contains 17 mineral prospects across an 11km mineralized corridor
- Strategic location near productive mines along the Cabot Fault
- Financial support received from Government's Junior Exploration Assistance Program
Negative
- Historic resource estimate from 2017 requires updating
- Exploration results from adjacent properties may not indicate similar mineralization at Glover Island
Vancouver, British Columbia--(Newsfile Corp. - July 31, 2025) - Galloper Gold Corp. (CSE: BOOM) (OTC Pink: GGDCF) (the "Company" or "Galloper") is pleased to announce that the Government of Newfoundland and Labrador has awarded the Exempt Mineral Lands (EML) Mineral Licence containing the historic Lunch Pond South Extension ("LPSE") Resource on Glover Island to Galloper Gold Corp.
The company has been awarded the EML through the RFP process that began in November 2024. The property covers an area of 1,926 hectares and contains the ~178,800oz. Au indicated and inferred LPSE resource delineated by Mountain Lake Minerals in 2012.
The LPSE deposit is located at the south-western portion of an 11 km mineralized corridor known as the Glover Island Trend (GIT). This prospective GIT is host to 17 gold, base metal, nickel, and polymetallic minerals prospects. In addition, numerous gold anomalies cross several rock types adjacent to a major tectono-structural break known as the Cabot Fault. Adding to the prospectivity of the GIT, The Ming Mine, Tilt Cove Mines, Nugget Pond Mine and Pine Cove Mine are situated strike-north on this fault on the Baie Verte peninsula showing the prolific mineralized nature of this major structure on which the Glover Island property sits.
Galloper Gold's CEO, Mr. Hratch Jabrayan, commented: "The acquisition of the historic LPSE deposit and the highly prospective geology connecting with Galloper's current Lucky Smoke prospect positions Galloper Gold's Glover Island property as the next major frontier of gold deposits, development, and mining in Canada. We are thrilled with the awarding of the EML which immediately adds a known 43-101 resource to our already promising portfolio. We have an exciting period ahead of us, and I am looking forward to continuing to bring value to our shareholders through the strategic implementation of our business and operational plans."
The historic LPSE resource table below highlights the mineral resource estimate from 2017:
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11683/260833_c73fb067d49e0953_002full.jpg
Figure 1 - Gold Trends, Mining Region of Western Newfoundland
Investors are cautioned that mineralization on adjacent properties is not necessarily indicative of the mineralization at Glover Island or the potential for a resource.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11683/260833_c73fb067d49e0953_003full.jpg
The company now has control of the mineralized portion of the Island which contains over 40 mineral occurrences including the Copper anomaly and the Lucky Smoke showing which the company successfully drilled in 2024.
The company is excited to announce that an exploration program will begin this fall expanding on the 2024 intercepts at Lucky Smoke, drilling expansion and definition of the LPSE deposit, and drilling other prospects within the newly minted Mineral Licence, formerly the EML.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Peter Lauder, P.Geo., Director for Galloper Gold. Mr. Lauder is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
Acknowledgment – Newfoundland & Labrador Junior Exploration Assistance Program
Galloper Gold acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
About Galloper Gold Corp.
Galloper is focused on mineral exploration in the Central Newfoundland Gold Belt with its flagship Glover Island Property, 24 km southeast of Corner Brook, and its Mint Pond prospect in the Gander area. Galloper recently completed the first diamond drilling program at Glover Island since 2012, completing six holes with results pending.
For more information please visit www.GalloperGold.com and the Company's profile on SEDAR+ at www.sedarplus.ca.
On behalf of the Board of Directors,
Mr. Hratch Jabrayan
CEO and Director
Galloper Gold Corp.
Company Contact:
info@gallopergold.com
Tel: 778-655-9266
Investor Relations:
MarketSmart Communications
Tel: 877-261-4466
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward-looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with mineral exploration generally, risks related to capital markets, risks related to the state of financial markets or future metals prices and the other risks described in the Company's publicly filed disclosure.
Management has provided the above summary of risks and assumptions related to forward-looking statements in this news release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this news release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260833
FAQ
What is the size of the gold resource acquired by Galloper Gold (GGDCF) at Glover Island?
How large is the Glover Island property acquired by Galloper Gold?
What are Galloper Gold's exploration plans for the Glover Island property?
How many mineral prospects are contained within the Glover Island Trend?
What government support is Galloper Gold receiving for the Glover Island project?
