GTR: TSX-V $0.40 VOL: 51025
GATGF: US $0.29 VOL: 8385
SPOT GOLD $1999.75

Overview

Larder Project, Ontario, Canada

Larder Project Highlights

Larder Location

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.

GTR Larder Lake Claim Map

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
Figure 1
 

Drillhole Highlights

HOLE ID FROM
(m)
TO
(m)
LENGTH
(m)
AU (g/t) ZONE TARGET
GTR-19-003 797.0 803.1 6.1 20.7 North Bear
  808.0 815.0 7.8 6.6 North Bear
GTR-19-004W 782.0 790.0 8.0 10.8 North Bear
GTR-19-005W2 788.0 793.0 5.0 12.7 North Bear
GTR-19-006A 750.5 753.5 3.0 9.7 North Bear
  871.0 875.0 4.0 8.5 South Flow Bear
GTR-19-009 811.0 816.0 5.0 10.6 North Bear
GTR-19-010 43.0 48.0 5.0 12.3 South Flow Cheminis
GTR-19-017 910.0 946.8 36.8 1.5 North Bear/Cheminis
GTR-19-019 839.2 861.0 21.8 1.2 South Flow Bear/Cheminis
GTR-19-023 264.0 269.0 5.0 11.2 Ultramafic Bear/Cheminis
GTR-19-024 81.0 85.0 4.0 11.9 South Fernland
GTR-19-027 72.0 77.0 5.0 5.4 South Fernland
GTR-19-039A 97.3 137.0 39.7 2.5 South Cheminis
GTR-19-040 125.0 131.0 6.0 6.1 Ultramafic Cheminis
GTR-19-041 124.0 151.0 27.0 1.4 South Cheminis
GTR-20-059 99.0 102.0 3.0 85.1 North Bear
GTR Larder Lake Claim Map

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.

Figure 2
GTR Deposit Long Section 2019

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:

Figure 3

Larder Databank

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.

   Larder Project Technical Report

GTR Larder Lake Claim Map

2011 Total Resource Estimate @ 2.5 g/t Au Cut-Off Utilizing Gold Price of US$1,207/oz*

Classification Tonnes Grade
(Au g/t)
Contained Ounces
Au
Indicated 335,000 4.07 43,800
Inferred 5,141,000 5.55 917,000

*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.

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