お知らせ • Apr 10
Galloper Gold Corp. Delivers New 2026 Mineral Resource Estimate for Lunch Pond South Deposit Lunch Pond South on Glover Island
Galloper Gold Corp. announced a 2026 updated NI 43-101 compliant Mineral Resource Estimate (MRE) of its 100% owned and controlled Lunch Pond South Extension (LPSE) Deposit. The LPSE 2026 Gold Mineral Resource Estimate was undertaken using a gold price of USD 3,500 per ounce with a conversion rate of USD 0.72 to CAD 1.00, 95% process recovery, CAD 32/t process cost, CAD 5/t G&A cost and CAD 3/t open pit mining cost. Indicated Mineral Resources increased by 2.095 Mt, 62 koz Au and Inferred Mineral Resources increased by 4.616 Mt, 99 koz Au in the latest update. The Mineral Resource model has changed significantly via geological and engineering modelling, with the assumed higher gold price and costs to constrain the Mineral Resources and a lower cut-off. The grade estimate was undertaken with LeapfrogTM wireframes based on drill hole assays > 0.25 g/t Au, capped composites, variography, 2.5 m x 2.5 m x 2.5 m block model and a NPV SchedulerTM optimized pit shell. The Glover Island Property covers an area of 116.6km2 and contains the LPSE 2026 Gold Mineral Resource. Gold Indicated and Inferred Mineral Resources in the LPSE Mineral Resource were delineated for Galloper Gold Corp. and are stated as: 1) At a 0.25g/t Au cut-off pit-constrained Indicated Mineral Resource of 3.124 Mt at 1.20g/t Au; 2) At a 0.25g/t Au cut-off pit-constrained Inferred Mineral Resource of 6.692 Mt at 1.02 g/t Au. The LPSE Deposit is located at the south-western portion of an 11 km mineralized corridor known as the Glover Island Trend (GIT). This prospective GIT is host to 17 gold, base metal, nickel, and polymetallic minerals prospects. In addition, numerous gold anomalies cross several rock types adjacent to a major tectono-structural break known as the Cabot Fault. Adding to the prospectivity of the GIT, The Ming Mine, Tilt Cove Mines, Nugget Pond Mine, and Pine Cove Mine are situated strike-north proximal to this fault on the Baie Verte Peninsula showing the prolific mineralized nature of this major structure on which the Glover Island Property sits. The updated LPSE 2026 Gold Mineral Resource table highlights the increased values: Table 1.1 LPSE 2026 Mineral Resource Estimate Classification Au Cut-off Tonnes Au Au (g/t) kg/t koz Indicated 0.25 3,124 1.20 121 Inferred 0.25 6,692 1.02 219 (1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. It is noted that no specific issues have been identified as yet. (2) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration. (3) The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council. (4) The LPSE 2026 Gold Mineral Resource Estimate was undertaken using a gold value of USD 3,500 per ounce with a conversion rate of USD 0.72 to CAD 1.00 95% process recovery, CAD 32/t process cost, CAD 5/t G&A cost and CAD 3/t open pit mining cost. P&E Mining Consultants Inc., who performed the Mineral Resource modelling, are independent Qualified Persons and have prepared the updated MRE within the parameters of the NI 43-101 Standards of Disclosure for Mineral Projects. Technical information regulating the material disclosure regarding the LPSE 2026 Gold Mineral Resource (2026 MRE), to be released in Technical Report form within 45 days of this news release. The effective date of the resource is April 6, 2026. The technical information in this news release has been reviewed and approved by Mr. Eugene Puritch, P.Eng., FEC, CET., President for P&E Mining Consultants Inc. Mr. Puritch is the independent Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.