Gladiator Resources (GLA) has planned initial exploration activity for its Rutherglen and Bendoc gold projects in Victoria. The company has just $8 million AUD market cap compare to other expensive gold exploration stocks. Currently GLA is trading at around 1.7 cent.
The Rutherglen Gold Project is situated around 30 kilometers west of Albury and Wodonga. It in the historic Rutherglen – Chiltern Goldfield which produced more than 1.4 million ounces between the 1860s and 1920.
Gladiator expects the 16.8-kilometre exploration target for Rutherglen has potential for between 260,000 and 529,000 ounces within three lead sections grading between four grams per square metre and 7.9 grams per square metre.
Gladiator Resources will perform a high-resolution airborne magnetic survey which was expected to begin at the end of 2020, after contractors and equipments becomes available.
The survey is expected to generate multiple anomalies representing potential buried paleochannels that will require follow-up test work.
The company has also plans to perform minimum 5000 metres of drilling to identify the exploration target.
This drilling is expected to begin in the first quarter of next year.
Market will receive news flow from Gladiator Resources in Quarter 1 of 2021 which may create short term, medium term and long term investment opportunity considering the current share price in my opinion only. This is not a financial advice. Please take your own decision.
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