Larder Project, Ontario, Canada
Larder Project Highlights
- 3 high-grade gold deposits
- 2019-20 drilling connected all 3 deposits over 4.5 km strike and 1 km at depth
- Historic Mineral Resource Estimate completed 2011*
- 140,000 m of drilling not included in historic Resource Estimate
- Comprehensive historical data bank delivering consistent new success
- Located in an established gold camp in a stable jurisdiction
Gatling’s Larder gold project hosts three high-grade gold deposits along the Cadillac-Larder Lake Break, 35 km east of Kirkland Lake – a well established gold camp that has produced over 70 million ounces of gold. 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 ha project area is positioned 7 km west of the Kerr Addison Mine, which produced 11 million ounces of gold and it straddles approximately 9 km strike length of the Cadillac-Larder break. All parts of the Larder property are accessible by truck or all-terrain vehicles on non-serviced roads and trails.
Central to the Larder Gold property is the Cheminis deposit (the "Cheminis Mine"), which includes a vertical shaft to a depth of 1,085 feet with six levels, of which the deepest is at 1,035 ft. Intermittent past production from the Cheminis Mine has totaled approximately 260,000 tons at a recovered grade of approximately 0.104 ounces Au/ton.
Larder Resource Estimate
2011 Total Resource Estimate @ 2.5 g/t Au Cut-Off Utilizing Gold Price of US$1,207/oz*
Gatling Drill Program Success
Gatling commenced drilling in 2019 with a 10,000 m program that was expanded twice, due to the high level of success, to a total of 35,000 m. Drilling highlights include:
- Connection of all 3 deposits for a continuous 4.5 km trend
- Discovery of new lenses of gold mineralization at all 3 deposits
- Expansion of deposit footprints along strike and at depth
- New land and target acquisition at the Kir Vit
- 2 new gold discoveries at the Kir Vit – intrusion related and conglomerate hosted
Kir Vit Zone
In April, 2019, Gatling acquired the 1,274 ha Kir Vit claim package from Teck Resources. Kir Vit has not only expanded the Company’s land position in the district but has a number of exciting geological properties. Highlights of Kir Vit include:
- High-grade gold at surface in numerous outcrops and historical trenches, pits
- Multiple similarities to nearby deposits including the intrusion-related mineralization at Agnico Eagle’s Upper Beaver deposit
- High-priority targets identified using same methodology delivering success elsewhere at Larder
- 13 of 16 completed holes intersected mineralization >1.0 g/t Au
Gatling’s rapid success at Larder is a combination of a highly experienced technical team, including award-winning geologist and Gatling COO, Dale Ginn, and a comprehensive databank. The Larder databank comprises over 200,000 m of historical drilling, as well as property-wide ground sampling and survey results.
Goldfields entered into an option in 2012 to earn a 60% interest in the Larder Gold Project by spending $40 million in exploration and development. After one year of work ($6 million / 59 diamond drill holes), Goldfields pulled exploration activities worldwide, and terminated their option in 2015. The 59 holes (approx. 31,000 m) have not been included in the historical mineral resource estimates.
Upcoming Exploration Plans
Gatling intends to continue its aggressive expansion and exploration program at Larder. Please refer to our corporate presentation for further technical details and information on upcoming activity.
*Disclosure of Historical Estimates:
The Larder Project contains a historical resource estimate completed in August 15, 2011 by P&E Mining Consultants titled “43-101 Technical Report and Updated Resource Estimates on the Larder Project Property, Larder Lake, Ontario for Bear Lake Gold Ltd.” Gatling considers this resource estimate to be historical; it has not independently verified them, and therefore they should no longer be relied upon. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves, and Gatling is not treating the historical estimate as current mineral resources.
Nathan Tribble, P.Geo. has approved the information contained in this web page. Mr. Tribble is the Vice President Exploration with the Company and is a Qualified Person as defined by NI 43-101.