Toronto, Ontario--(Newsfile Corp. - July 2, 2024) - GPM Metals Inc. (TSXV: GPM) (the "Company" or "GPM") provides an update to its Walker Gossan Project, Arnhem Land, Australia.
GPM is pleased to announce that it has finalized a planned exploration program for 2024-25 on the Walker Gossan project. The work plan covers EL24305 and EL385. This plan is based on previous exploration activities in 2016 as well as the Aerial Gravity Gradiometric (AGG) survey completed in 2023 (see attached Figures 1 -3). Full AGG results can be found on GEMIS at: https://geoscience.nt.gov.au/gemis/ntgsjspui/handle/1/92941
The AGG survey has identified a large (2km by 1km) gravity anomaly which is coincident with a surface radiometric anomaly and anomalous thalium geochemistry (see figure 1&5). The follow up work program will be targeting large sediment hosted base metal deposits.
We thank the Northern Land Council for the opportunity to present this plan to Traditional Owners at meetings currently scheduled for 31st July in Gapuwiyak, Northern Territory.
Should the traditional owners approve the plan then, subject to weather and ground access conditions, GPM Metals expects to mobilise in early August to commence the planned activities which it expects will likely continue into 2025.
PROPOSED 2024-25 PROGRAM
A low impact and minimal disturbance exploration program is proposed by GPM for 2024-25. It is anticipated to include the following activities.
Geological reconnaissance, including mapping and outcrop rock chip sampling for geochemistry and petrology.
A ground gravity survey over the elevated density area as defined by the AGG survey in the northern portion of EL 24305.
Soil and outcrop sampling on an approximately 4 by 5 km grid over areas of elevated density.
Diamond and/or RC drilling to test any validated gravity/geochemical anomalies.
Diamond and Reverse Circulation drill program
Areas of interest highlighted through the mapping, sampling and gravity program, would then be targeted by a drilling campaign. Both diamond core and reverse circulation (RC) drilling similar to what was carried out on EL 24305 in 2016 is envisaged.
Mr Dan Noone will supervise and manage this exploration program.
Acquisition of Additional Exploration Ground
It is important to note that should additional gravity anomalies be found to continue outside our historical exploration boundaries, the new agreement announced on June 20, 2024 with Rio Tinto Exploration has substantially increased our land position to the north along the significant regional fault structure that appears to be controlling the gravity anomalies. A map of GPM's new larger land position is found in Figure 4.
CONTACT INFORMATION GPM Metals Inc. Suite 1101 - 141 Adelaide Street West, Toronto, Ontario M5H 3L5 Telephone : + 416 628-5904 Email: [email protected]
Forward-Looking Statements
This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "might", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information and/or statements. Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions of GPM which have been used to develop such statements and/or information but which may prove to be incorrect. Although GPM believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as GPM can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: results from planned exploration and drilling activities; GPM's future plans for operational expenditures; the accuracy of the interpretations of exploration and drilling activity results; availability of financing to fund current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which GPM has property interests; the general continuance of current industry conditions; aboriginal matters; the timely receipt of any required regulatory approvals; the ability of GPM to obtain qualified staff, equipment and/or services in a timely and cost efficient manner; the ability of the operator of each project in which GPM has property interests to operate in a safe, efficient and/or effective manner and to fulfill its respective obligations and current plans; future commodity prices; currency, exchange and/or interest rates; and the regulatory framework regarding royalties, taxes and/or environmental matters in the jurisdictions in which GPM has property interests. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation: risks associated with the uncertainty of exploration results and estimates, currency fluctuations, the uncertainty of conducting operations under a foreign regime, exploration risk, the uncertainty of obtaining all applicable regulatory approvals, the availability of labour and/or equipment, the fluctuating prices of commodities, the availability of financing and GPM's dependence on its management personnel, other participants in the property areas and/or certain other risks detailed from time-to-time in GPM's public disclosure documents, (including, without limitation, those risks identified in this news release and GPM's current management's discussion and analysis). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.
Neither the 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 and / or accuracy of this release
Figure 1. 2023 AGG survey corrected with a Bouguer density of 2.67 g/cc.
Figure 3. Proposed 2024 work area/targets (white) with planned ground gravity stations (light green). Soil and outcrop sampling are anticipated with in the target areas 1 - 3.
