Vancouver, British Columbia, October 15, 2019 – GATLING EXPLORATION INC. (TSXV: GTR, OTC: GATGF) (the “Company” or “Gatling”) is pleased to announce that is has successfully connected two of its three deposits along the 4.5 kilometer trend at the Larder gold project in Ontario. The most recent hole – part of an aggressive step out drilling phase – has intercepted 1.5 g/t Au over 36.8 meters including 2.0 g/t Au over 14.8 meters. The 400 meter step out from the high-grade core at the Bear deposit confirms gold mineralization in the North zone towards Cheminis and further adds mineralization to the South Flow zone. Importantly, these results confirm that Bear and Cheminis, previously thought to be two distinct deposits, are part of larger mineralized trend extending for at least 2.5 kilometers along strike.
Highlights and Observations
- Cheminis and Bear Deposits Connected. These new drill results further confirm that Gatling’s 4.5 kilometer trend is part of one large mineralized system. The wide-spread mineralization has connected the South Flow zone from the Bear Deposit to the South Flow zone from the Cheminis Deposit, which now extends a total of 2.5 kilometers (Figure 2).
- Step Out Drilling Campaign Aims to Connect all Three Deposits at Larder. Drilling at the Larder Gold Project is currently in a carefully planned expansion phase and will continue to strategically step-out west along the Cadillac-Larder Break towards Cheminis. Gatling believes that the Fernland, Cheminis and Bear deposits are part of one continuous system striking 4.5 kilometer (Figure 3). This phase of exploration will continue to explore previously untested areas along strike of known mineralization.
- Widespread Mineralization. Gatling has intersected a structural dilation zone on both North and South Flow zones at the Bear Deposit. The zones have strong silica-sericite alteration and exhibit a significant increase in mineralization up to 15% pyrite (Figure 3). The widespread mineralization is over a 36.8 meter interval with consistent, evenly distributed gold grades indicating an intense hydrothermal system with widths comparable to Kerr-Addison, 7 kilometers to the east which produced nearly 11 million oz Au.
- Gatling Recent Drill Highlights. Gatling recently drilled 10.6 g/t Au over 5.0 meters on a 200 meter step out at the Bear Deposit in hole GTR-19-009 and 12.3 g/t Au over 5.0 meters in GTR-19-008 on a near surface step out at the Cheminis Deposit. These intercepts aid Gatling in connecting the whole 4.5 kilometer trend and will continue to be tested as the program continues.
Nathan Tribble, VP Exploration stated, “These results mark an important milestone for our drilling program. Gatling has long believed that the Larder gold project hosts a single mineralized system far larger than previously understood. We have now connected two of the three deposits on the project and will continue our approach of aggressive step out holes with the aim of connecting the third deposit on the 4.5 kilometer trend.”
Results from drill hole
*Stated lengths are core lengths as drilled. True widths are estimated to be 60 to 80% of reported core length intervals.
Drill hole location
The North zone is light grey in color, fine to medium grained with brecciation and quartz fracture filling textures throughout. Alteration includes strong pervasive silicification, moderate to strong sericite alteration, local fuchsite-chlorite patches and small zones of graphite alteration. Mineralization includes fine grained disseminated pyrite throughout up to 7-15% with minor chalcopyrite. Large wide-spread mineralization occurs between 910.0 and 946.8 meters where intense silicification and pyrite-chalcopyrite mineralization increase up to 15%. The Ultramafic zone is a classic talc-chlorite-schist with sharp contacts at upper and lower boundaries. The South Flow zone is dark grey in color with local brecciation between 998.5 and 999.0 meters and minor quartz fracture filling textures. Both zones exhibit intense silica sericite alteration associated with mineralization over large widths indicating intense hydrothermal alteration within a wide-spread dilation zone along the Larder Lake Cadillac Break.
Figure 1. Hybrid Long section Looking North of Bear North and South zones with pierce points
Figure 2. Level cut at 850 meters below surface illustrating both South Flow zone
mineralized trend connected with Cheminis.
Figure 3. Photo of core at 917 meters in GTR-19-017 illustrating strong silica-sericite alteration, 10% pyrite, and quartz stringers within the large wide spread mineralized corridor of 910-946.8 meters.
Drill core is logged and sampled at the Larder project site. Core samples from the program are cut in half, using a diamond cutting saw with half sent for assay at ALS Labs in Rouyn-Noranda, Quebec. The other half is secured and retained on site. All samples are analyzed for gold using standard Fire Assay-AA techniques. Samples returning greater than 5.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric methods. Certified reference standards and blanks are routinely inserted into the sample stream as part of Gatling’s quality control/quality assurance program.
Venture Liquidity Providers Inc.
The Company also announces that, subject to regulatory approval, it has retained Venture Liquidity Providers Inc. (“VLP”) to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the Company.
The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, the Company has agreed to pay VLP $5,000 per month for a period of 12 months. The agreement may be terminated at any time by the Company or VLP. The Company and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the Company or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the Company to VLP is for services only.
VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX Venture Exchange listed issuers.
About Gatling Exploration
Gatling Exploration is a Canadian gold exploration company focused on advancing the Larder Gold Project, located in the prolific Abitibi greenstone belt in Northern Ontario. The Larder property hosts three high-grade gold deposits along the Cadillac-Larder Lake Break, 35 kilometers east of Kirkland Lake. 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-hectare project area is positioned 7 kilometers west of the Kerr Addison Mine, which produced 11 million ounces of gold. All parts of the Larder property are accessible by truck or all-terrain vehicles on non-serviced roads and trails.
The technical content of this news release has been reviewed and approved by Nathan Tribble, P. Geo., VP Exploration of Gatling Exploration and a Qualified Person pursuant to National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President and CEO
Gatling Exploration Inc.
For further information on Gatling, contact Investor Relations
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements: Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward-looking statements. Although we believe that the expectations in our forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
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