Galloper Gold Stock Price, News & Analysis

Galloper Gold Corp (OTC Pink: GGDCF) is a mineral exploration company whose public disclosures describe a focus on gold and base metals. The company is also listed on the Canadian Securities Exchange under the symbol BOOM. According to its news releases, Galloper concentrates its exploration activities in the Central Newfoundland Gold Belt, with priority given to its Glover Island and Mint Pond properties.

Core exploration focus

Galloper states that it is focused on mineral exploration in the Central Newfoundland Gold Belt. Its flagship asset is the Glover Island Property, located approximately 24 kilometres southeast of Corner Brook in Newfoundland and Labrador. The company also describes the Mint Pond prospect in the Gander area as an additional exploration property. Both Glover Island and Mint Pond are described as being prospective for gold and base metals.

In multiple news releases, Galloper notes that it has completed the first diamond drilling program at Glover Island since 2012, with six holes drilled and results pending at the time of those disclosures. The company also reports that it has initiated exploration evaluation of historic gold-mineralized prospects along trend of the Lunch Pond South Extension (LPSE) resource on Glover Island.

Glover Island Property

Galloper describes the Glover Island Property as its flagship project. In different disclosures, the company reports that this property consists of 477 mining claims totaling 11,925 hectares, and elsewhere as 477 claims in 15 mineral licences totaling 12,200 hectares. The property is described as being focused on exploration for gold and base metals. Glover Island hosts the historic Lucky Smoke gold occurrence and the Lunch Pond South Extension (LPSE) area, which Galloper refers to as a historic resource.

The company reports that the Glover Island Trend (GIT), an approximately 11-kilometre mineralized corridor, is host to multiple gold, base metal, nickel and polymetallic mineral prospects, as well as numerous gold anomalies. Galloper’s disclosures state that the company has control of the mineralized portion of Glover Island, which contains over 40 mineral occurrences, including the Copper anomaly and the Lucky Smoke showing.

Lunch Pond South Extension (LPSE) historic resource

Galloper’s news releases explain that the Government of Newfoundland and Labrador awarded the Exempt Mineral Lands (EML) mineral licence containing the historic LPSE resource on Glover Island to Galloper Gold Corp through a request for proposals process. The company states that this licence covers an area of 1,926 hectares and contains an indicated and inferred gold resource originally delineated by Mountain Lake Minerals in 2012, as summarized in a 2017 technical report by Puritch and Barry.

Galloper emphasizes that this LPSE estimate is a historic resource. The company notes that a qualified person has not done sufficient work to classify the historic estimate as current mineral resources or mineral reserves, and that Galloper is not treating the estimate as current. The company also outlines that additional work, including drill-core and assay analysis and confirmation drilling, would be required to upgrade or verify the historic resource.

Mint Pond prospect

In its news releases, Galloper describes the Mint Pond prospect as part of its focus in the Central Newfoundland Gold Belt. The company reports that Mint Pond consists of 499 claims totaling 12,475 hectares and is prospective for gold and base metals. This prospect is located in the Gander area, complementing the company’s activities at Glover Island.

Exploration activities and historic prospects

Galloper reports that it has initiated targeted programs to evaluate the mineralization potential along gold trends on Glover Island. These activities include helicopter visits with geological teams to historic prospects, assessment of recently acquired claims adjacent to existing licences, and evaluation of historic drill core held by the Government of Newfoundland and Labrador.

The company’s disclosures describe an approximately 11 to 15 kilometre gold trend associated with the LPSE deposit and related prospects. Galloper notes that historic mineralized prospects are situated in the same belt of rocks as the LPSE deposit, and that new geological insights highlight favourable deformation zones within the land package on Glover Island.

Property acquisitions and land position

Galloper reports that it has completed an acquisition of additional exploration mineral licences on Glover Island from a third-party vendor. According to the company, this acquisition adds known surficial mineralization at surface, with potential at depth and along strike, to its existing holdings. The acquired claims host the Keystone and Jacomar prospects, where historic trenching and drilling have identified gold mineralization.

Following this acquisition, Galloper states that its mineral land holdings on Glover Island cover approximately 122 square kilometres. The company notes that the addition of these claims increases the mineralized strike length of the Lucky Smoke prospect and enhances the continuity of mineralization along the Tomahawk–Lucky Smoke–Keystone–Jacomar corridor.

Capital markets and corporate actions

Galloper Gold Corp’s news releases indicate that the company trades on the Canadian Securities Exchange (CSE) under the symbol BOOM and on the OTC Pink market under the symbol GGDCF. The company has disclosed the use of equity-based compensation and financing-related measures, such as incentive stock option grants to officers and consultants under its omnibus equity incentive plan, and the issuance of common shares to settle debt related to past management services.

In one release, Galloper reports a debt settlement in which it issued common shares at a deemed price per share to settle a specified amount of debt. The company identifies this as a related party transaction under Multilateral Instrument 61-101 and explains the exemptions it relied upon from formal valuation and minority shareholder approval requirements.

Corporate governance and technical oversight

Galloper’s disclosures refer to changes in its board of directors, including the appointment of a new director with experience in business and mining-related activities. The company also acknowledges the resignation of a former director to make room for this appointment.

The company’s technical information in several news releases is stated to have been reviewed and approved by qualified persons under National Instrument 43-101 standards. These qualified persons are identified in the releases as responsible for the scientific and technical information related to the Glover Island property and the LPSE historic resource.

Regulatory and program acknowledgments

In multiple news releases, Galloper acknowledges financial support from the Newfoundland & Labrador Junior Exploration Assistance Program, administered by the Department of Natural Resources of the Government of Newfoundland and Labrador. The company also includes standard cautions that mineralization on adjacent properties is not necessarily indicative of mineralization on its own properties, and that historic resource estimates require further work before being treated as current.

Risk and disclosure considerations

Galloper’s news releases contain cautionary language regarding the nature of historic resource estimates and the uncertainties associated with mineral exploration. The company notes that mineral resources which are not mineral reserves do not have demonstrated economic viability and that estimates may be affected by various factors, including environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.

Overall, based on its public disclosures, Galloper Gold Corp presents itself as a mineral exploration company focused on advancing gold and base metal exploration projects in the Central Newfoundland Gold Belt, with particular emphasis on the Glover Island Property and the Mint Pond prospect.