Central Newfoundland gets a new player in its gold market

·2 min read

Newfoundland and Labrador gold continues to attract new players from far and wide.

The latest company to join this provincial gold rush is British Columbia-based Sassy Resources Corporation.

In a press release on Feb. 12, the company announced it had formed the wholly-owned subsidiary Gander Gold Corporation intending to establish itself in the region.

The subsidiary’s goal is to give Sassy a better foothold in the market as it begins its pursuit of development opportunities on the island.

“We’ve taken some creative, forward-looking steps aimed at year-long value creation with Sassy establishing a major foothold in the prolific Eskay and Newfoundland mineral districts during transformational periods for each region,” said Sassy president and CEO Mark Scott in a prepared release.

Sassy also has a marked presence in British Columbia with its Foremore property and the Westmore discovery zone, both in the northern part of the province.

With the announcement, Sassy joins an industry that is quickly becoming a staple of central Newfoundland and beyond.

Currently, 11 operational mines are producing 14 metal and non-metal commodities spread throughout Newfoundland and Labrador. They stretch from Labrador to Cape Ray on the west coast and as far east as Gander.

In between, there are mining projects in Baie Verte, Millertown and elsewhere in central Newfoundland.

Sassy waited little time getting Gander Gold underway in the region. In the release, the company also announced it had entered into an option agreement with Vulcan Minerals to acquire eight claim blocks in central Newfoundland.

In those eight blocks, there are 624 claims, including what it calls drill-ready Gander North. It is some 15 kilometres northeast of New Found Gold’s Keats Zone Discovery.

According to the release, Sassy is currently waiting for drill permits from the provincial government for Gander North.

Also falling under the Gander Gold Corporation umbrella, are claim blocks in Gander South, Gander West, Lizard Pond, Mt. Peyton, Little River East and Hermitage Fault.

"The Gander Gold subsidiary gives us various attractive options to leverage success for our shareholders,” said Scott.

Nicholas Mercer, Local Journalism Initiative Reporter, The Central Voice