Galloper Gold Corp. (CSE: BOOM) Submits Proposal for Glover Island Exempt Mineral Land Acquisition

3 min read | January 23, 2025 08:05 AM EST | By Team Kalkine Media

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Galloper Gold Corp. (CSE: BOOM) Submits Proposal for Glover Island Exempt Mineral Land Acquisition — Image source: Shutterstock

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Highlights

Galloper Gold submits detailed proposal to acquire Exempt Mineral Land (EML) on Glover Island

EML includes 1,925 hectares of surface area with known gold resources of 58,200 oz indicated and 120,600 oz inferred

Proposal marks a significant step in advancing Galloper’s Glover Island project with exploration and development potential

Galloper Gold Corp. (CSE:BOOM) is pleased to announce that it has submitted a comprehensive proposal to the Newfoundland and Labrador Minister of Industry, Technology and Energy in response to the province's "Request for Proposals for Glover Island Exempt Mineral Land" (EML). The province issued the Request for Proposals (RFP) on November 7, 2024, and the deadline for submissions was January 22, 2025.

The Exempt Mineral Land on Glover Island, created on March 11, 2012, consists of 1,925 hectares along 8.85 kilometers of potential strike length, situated within the southwestern part of the island. This land is surrounded by Galloper's existing exploration licenses and is strategically located over a southwest-to-northeast trend of known gold mineralization. The EML is home to 19 mineral prospects and showings, the majority of which are focused on gold, with additional prospects for base metals such as copper and zinc.

Resource Potential and Historical Exploration

The historical exploration on the Exempt Mineral Land has revealed significant potential, with trenching and drilling efforts that resulted in a National Instrument 43-101 compliant gold resource estimate. This estimate includes 58,200 oz of indicated gold resources and 120,600 oz of inferred gold resources. However, Galloper has not performed sufficient work to independently verify the details of the historic resource estimate and will rely on historical assessment reports and government publications for the proposal.

The proposal, if accepted, will grant Galloper exclusive mineral rights to the land, along with project commitments to be incorporated as terms and conditions of an Extended Map Staked Licence. These commitments will also include special attention to the island's provisional protected status, which must be considered as part of the acquisition and exploration process.

Strategic Importance to Galloper’s Glover Island Project

Galloper Gold’s CEO, Mr. Hratch Jabrayan, commented on the significance of the proposal: "We are delighted to have submitted to the Minister a robust proposal for the acquisition, exploration, and development of the Exempt Mineral Land on Glover Island. This land offers significant value and upside potential to our flagship Glover Island Project and is a crucial step in advancing Galloper Gold’s position as a leading junior gold company in Newfoundland. As we move forward, we look forward to providing our shareholders with progress updates as details become available."

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