While we wait results -Interesting Reading Indeed-Hot Region see...

While we wait results -Interesting Reading Indeed-Hot Region see Figure 4 - A significant Rise in Tenement Applications across the Arunta Orogen since 2017.


Radiometric data:• The Project is characterised by a relatively subdued potassium (K) radiometric signature,similar to that of the area hosting the Tanami gold systems ca. 200km to the west.
Theobserved radiometric signature is most likely a direct response from the local bedrock andexposed mineral alteration systems,
and is also interpreted in terms of much of the ProjectArea comprising only thin or no soil cover.
 At the Lennon prospect (Fig. 2), a large 7km by 3km Au-(Cu-Mo) surface geochemical anomalyspatially associated with a NW-SE-trending magnetic feature has a coincident NW-SE-trendingK radiometric anomaly.
Lennon is now recognised as a key exploration target.
 Potassium-thorium (K/Th) ratio radiometric data provide a useful tool for discriminatingdomains of hydrothermal alteration in areas of no, or very thin (<40-50cm), soil cover.
DiscreteK/Th highs at the Lennon and Waldrons prospects and in the greater Harrisons and Eleanorprospects areas coincide with areas of out- and subcrop and large multi-element surfacePage 4 of 10Figure 2.
Map of the Project Area showing the regional (SD12800-scale) gravity ‘edges’ and how the known goldmineralisation is closely associated with and ’lined up along’ the main gravity linear; an interpreted basement structure.geochemistry anomalies and, thus, are most likely linked to domains of hydrothermalalteration exposed in outcropping rocks.
The discrete K/Th highs at these localities are alsobroadly consistent with first-order magnetic and gravity structures.
Gravity data:• At the regional scale, a clear association was recognised between second-order gravity ridges(represented by SD1600 scale gravity structures generated in this study) and most of the largeTanami gold systems.
 No such relationship is evident at the North Arunta Project.
However, the Project illustrates avery strong spatial relationship between gold systems and major gravity edges evident atmultiple scales (Fig. 2).
The latter are interpreted as expressions of long-lived, deep-seatedbasement structures that are thought to have played a critical role in controlling the locationof gold mineralisation in the Project Area.
 The contrasting gravity signatures may also be taken as evidence for different geneticprocesses having operated in the Tanami and North Arunta areas despite these areas sharingcertain geological similarities (see metallogeny section below for further discussion).
 The magnetic data illustrate a clear spatial association between residual magnetic highs andthe Tanami gold systems.
Similar features are evident in the Project Area but the known goldsystems at the North Arunta Project are more closely associated with residual magnetic lows.
An exception to this rule is the Lennon prospect, which may represent a concealed porphyrysystem (see metallogeny section below for further discussion).
Again, the contrastingmagnetic signatures may be taken as evidence for different genetic processes having operatedin the Tanami and North Arunta areas. 
A pronounced spatial association was recognised between the main gold mineralised trend atthe North Arunta Project and a first-order, ESE-WNW-striking magnetic structure evident inthe SD12800 scale structure detection data.
This structure is interpreted as a regional fault orshear zone, likely having tapped deeper-seated magmatic systems that would have addedheat into the crust and promoted the migration of gold-bearing hydrothermal fluids.
 Large scale magnetic structures cutting across the Project Area are interpreted here as majordemagnetised shear zones spatially associated with domains of hydrothermal alteration andintrusive bodies evidenced by shallow to deep residual magnetic lows.
 Second-order (SD1600-scale) ESE-WNW-striking magnetic structures show a strong spatialassociation with gold mineralisation in the western portion of the North Arunta Project.
 Third-order (SD1600-scale) NNW-SSE-striking magnetic structures appear to have played arole in the localising gold mineralising processes at the Lennon and Waldrons prospects.
 Some of the prospects at the North Arunta Project also illustrate spatial associations withthird- or higher-order (SD40- to SD100-scale) ESE-WNW-striking magnetic structures,probably indicating that minor structures had an important role to play in localising goldmineralisation.
 Whilst the Kroda Target is situated upon a broad, shallow residual magnetic low (Fig. 3), otherprospects (e.g., Lennon, Tulsa, Walrus, South Walrus, Target M, Harrison and Eleanor) aremarked by discrete shallow residual magnetic highs.
Similar responses can be recognised inthe moderate residual magnetics.
More variation is evident in the deep residual magnetics,probably reflecting subtle differences in host rocks and mineralising processes across thevarious prospects.
 At the broader scale, a strong spatial relationship is evident between prospects such as theKroda Target and Tulsa and shallow residual magnetic lows, marking a significant structuralcorridor (the previously interpreted Kroda shear zone corridor) spatially associated withintense hydrothermal alteration, magnetite destruction and gold mineralisation.
 Both the Lennon and Walrus prospects are marked by large magnetic highs whilst otherprospects are commonly represented by magnetic lows interpreted as magnetite destructivealteration zones.
 Additional large magnetic highs outside the known prospect areas may represent mafic ormagnetite-bearing intermediate to felsic intrusive rocks. However, some of these anomaliescould represent yet unrecognised domains of hydrothermal alteration associated with goldmineralisation.
Page 6 of 10Figure 3. Magnetic map (TMI RTP) of the broader Kroda to Tulsa area illustrating the spatial relationship between the knowngold occurrences and a broad shallow residual magnetic low (blue colours), interpreted as an extensive structural corridor.Inset:
Zoomed image of the Kroda Target.
Pipeline Study – Metallogeny of the Project Area & New Targeting Models
 Ore mineral associations recorded by previous explorers suggest that the genesis of at leastsome of the gold occurrences at the North Arunta Project does not readily fit an orogenic golddeposit model as is commonly postulated to explain the genesis of the Tanami gold systems.
 For example, the association of Cu ± Sb minerals such as enargite and Cu minerals such ascovellite, chalcopyrite, chalcocite and bornite with Au and Ag as reported from Waldrons istypically a strong indicator of high-sulphidation epithermal gold systems.
Hence, someprospects at the North Arunta Project could have formed in a shallow crustal epithermalenvironment above deeper porphyry systems associated with Cu, Au and/or Mo.
Whilstfurther evidence will be required to prove (or disprove) this hypothesis, it would serve toexplain the occasional Cu-Mo geochemical element associations and Au-Ag (± As, Sb)anomalism, in particular at the Tulsa and Lennon prospects.
Given the occurrence of a possibleintrusion-related gold system in the nearby Granites-Tanami Orogen (i.e., Buccaneer3) theabove is a likely scenario for the North Arunta region also.
 Significant As-Sb anomalism has also been reported from the western Project Area whilst as is the typical sulphide mineral at Kroda-3.
The latter has been described as a breccia-pipehosted gold system, which again is uncharacteristic for orogenic gold systems but common inintrusion-relatedgold systems. 3 Li, B., 2014: Tectonic evolution and gold mineralisation of the Granites-Tanami Orogen, NorthAustralian craton.
Unpublished PhD Thesis, The University of Western Australia, 204p.Page 7 of 10• Given the above, there may be potential at the North Arunta Project not only for orogenicgold systems similar to those found in the nearby Granites-Tanami Orogen but also fordiscovery of previously unrecognised deposit types, including Mesozonal to high-level epizonal intrusion-related gold systems, in particular at theKroda Target.o Porphyry Cu (± Au, Mo), in particular at Lennon and in the wider Tulsa area.o High sulphidation epithermal Au-Ag-Cu, in particular at Waldrons.• Historic exploration undertaken at the North Arunta Project appears to have paid little, if any,attention to either the metallogeny of the Project Area or the exploration implications ofalternative mineral deposit and targeting models.
 Moreover, much, if not most, of the historic exploration may be considered ineffective withrespect to testing for intrusion-related, porphyry and high-sulphidation epithermalmineralisation styles.
This probable lack of effective prior exploration provides a significantopportunity for Gladiator in that the Company can now rebuild the Project from the groundup with future exploration activities informed by updated targeting models warranting theapplication of new technologies (e.g., high-resolution IP) and testing of new search spaces(e.g., deeper drilling below known mineral occurrences and multi-element surfacegeochemical anomalies).
 Given the new geophysical and metallogenic evidence and interpretations, the Companybelieves that the mechanisms of ore formation at and underlying genetic models applicableto the North Arunta Project may differ fundamentally from those applicable to the Tanami,Tennent Creek and other goldfields nearby.
 Both magnetic and gravity data provide evidence for a regional-scale, first-order shear zoneor fault corridor cutting across the Project Area.
Most of the known gold occurrences and largemulti-element surface geochemical anomalies line up along and cluster immediately north orsouth of this corridor (Fig. 2),
interpreted as the main ore-controlling structure in the ProjectArea.
In the available geophysical data, this corridor is characterised by the spatial coincidenceof a major gravity edge that is evident at multiple scales (Fig. 2), a substantial magneticlineament, also evident at multiple scales, and domains of residual magnetic lows (Fig. 3).
In summary, the cursory review of the Project metallogeny in conjunction with the delineation andinterpretation of cutting edge geophysical structure and intrusion detection data unveiled anuntapped opportunity for targeting previously unrecognised styles of gold (and possibly base metals)deposits.
The new understanding of the mineral potential of the Project Area along with new geophysicalinformation will underpin a new era of discovery-oriented exploration at the North Arunta Project.


 Rise in Tenement Applications across the Arunta Orogen• As illustrated in Figure 4, large portions of the Arunta Orogen are now under tenure.
In fact,the underexplored yet highly prospective region has become a ‘hotspot’ for base metals, goldand battery metals explorers as expressed in the substantial increase in tenement applicationssince 2017.

salt