Larder Project, Ontario, Canada
Larder Project Highlights
- 3 high-grade gold deposits
- Mineral Resource Estimate completed 2011*
- 60,000 m not yet included in Resource Estimate
- Comprehensive historical data bank delivering consistent new success
- 2019 drilling connected 2 deposits over 2.5 km strike
- 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 Cadilla-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 Project 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
The Bear deposit hosts a historic estimate* (2011, P+E Mining) of 3,750,000 tonnes at 5.7 g/t (683,000 oz) (inferred). The Cheminis Deposit contains a historic estimate* (2011, P+E Mining) of indicated of 335,000 tonnes at 4.1 g/t (43,800 oz) and inferred of 1,391,000 tonnes at 5.2 g/t (233,400 oz). Please refer to cautionary information below regarding historic estimates.
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:
- Confirmation of historical mineralized zones
- Discovery of new lenses of mineralization
- Expansion of deposit footprints
- Connection of two deposits for a continuous 2.5 km trend
- New land and target acquisition
2019 Assay Highlights
|Hole ID||From (m)||To (m)||Length (m)||Au (g/t)||Zone||Target|
Drilling is now focused on connecting the third deposit to create a continuous 4.5 km mineralized trend, as well as expanding the deposit footprints.
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
- 2020 drilling planned with approx. 3,000 m
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.
2011 Total Resource Estimate @ 2.5 g/t Au Cut-Off Utilizing Gold Price of US$1,207/oz*
*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.