Mining Co. Uncovers Massive 300m Copper-Gold Zone in Yukon's Whitehorse Belt

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

Gladiator Metals Corp. (GLAD:TSX; GDTRF:OTC) announced a significant new discovery at the Whitehorse Copper Belt from its initial drilling at a new target near the historic Black Cub South pit, according to a January 15 release.

The five-hole, 1,411-meter drill program has revealed substantial mineralization adjacent to the Cub Trend, defined by historical drilling and mining over a greater than 1.5-kilometer strike length, with all five drill holes intersecting high-grade copper-gold-magnetite skarn, the company said.

"Gladiator's maiden drilling campaign on the newly identified geophysical target at Cub East has delivered exceptional high-grade results and a major new discovery, fully validating the company's innovative exploration strategy," said Chief Executive Officer Jason Bontempo. "These achievements underscore the vast, untapped potential of the already prolific Whitehorse Copper Belt. All five drill holes intersected previously unknown zones of high-grade copper-gold-magnetite skarn, confirming robust continuity across more than 350 meters of strike and 300 meters down-dip. This large, mineralized footprint signals significant volume and growth potential, with mineralization remaining open in every direction."

The maiden drilling at the new target area next to the previously mined Black Cub South Open Pit uncovered previously unknown high-grade copper-gold-magnetite skarn in all five drill holes. Notable results include 44.2 meters at 1.69% copper (Cu), 0.93 grams per tonne gold (g/t Au), and 15.39 g/t silver (Ag) from 173.8 meters, with 27 meters of 2.56% Cu, 1.44 g/t Au, and 23.85 g/t Ag from 183 meters.

High-grade mineralization is now defined over an area of more than 300 meters of strike and 300 meters down dip and remains open in all directions, the company said. This validates geophysical targeting based on combined Gravity and IP (Induced Polarization), unlocking the exploration potential of the entire Whitehorse Copper Belt.

The mineralization was found under cover and was previously undetected by exploration efforts, with the target recently identified through Gladiator's ongoing geophysical programs. Gladiator's ongoing IP survey has revealed strong chargeability anomalies extending well beyond the current drill area, pointing to further expansion opportunities to the south as well as at depth. 

Cub East

Drilling at Cub East targeted overlapping gravity and induced polarization (IP) anomalies identified from modern geophysical surveys, and all five holes intersected high-grade copper-gold-silver magnetite skarn. The results define mineralization over more than 300 m of strike within a broader ~800 m gravity/IP geophysical anomaly that remains open in all directions, the company said. This led to the new Cub Trend discovery known as "Cub East." Recently returned assays from Cub East confirmed drilling intersected strong copper and gold magnetite-skarn mineralization. Results include:

• BCG-014 returned 44.2 meters at 1.69% Cu, 0.93 g/t Au, and 15.39 g/t Ag from 173.8 meters, including 27 meters of 2.56% Cu, 1.44 g/t Au, and 23.85 g/t Ag from 183 meters.
• BCG-017 returned 17.7 meters at 1.76% Cu, 0.69 g/t Au, and 13.62 g/t Ag from 176.3 meters, including 13.7 meters at 2.20% Cu, 0.88 g/t Au, and 17.34 g/t Ag from 176.3 meters.
• BCG-015 returned 16.3 meters at 1.51% Cu, 0.24 g/t Au, and 3.20 g/t Ag from 121.7 meters, including 9.3 meters at 2.45% Cu, 0.29 g/t Au, and 3.91 g/t Ag from 121.7 meters.
• BCG-013 returned 19 meters at 0.96% Cu, 0.29 g/t Au, and 8.83 g/t Ag from 171 meters, including 5.1 meters at 2.82% Cu, 0.69 g/t Au, and 23.09 g/t Ag from 171 meters.

Drilling will resume in February 2026, targeting further strike and up-dip extensions within the 800-meter geophysical anomalies to expand the mineralized footprint and bring mineralization closer to the surface from the initially targeted deeper drilling focused on the broader IP responses, the company said.

"Adding to the excitement, Gladiator's ongoing IP survey has revealed strong chargeability anomalies extending well beyond the current drill area, pointing to further expansion opportunities to the south as well as at depth," Bontempo said. "This new discovery was identified, under cover, through a combination of detailed gravity and IP surveys, which enabled highly accurate drill targeting that intersected mineralization within 10 meters of modeled geophysical anomalism. Following the validation of this low-cost geophysical approach to exploration on the Whitehorse Copper Belt, further gravity and IP will be expanded to unlock previously unexplored areas in the coming months."

Bontempo continued, "Additional assay results from Gladiator's 2025 resource drilling at the Cowley prospect are expected in the coming weeks, with drilling set to resume later this month. Backed by full funding and an ambitious 2026 exploration program of approximately 50,000 meters, Gladiator is positioned for transformative growth and continued success in 2026. This is not just exploration — it's discovery at its finest."

The drilling at Cub East is part of approximately 50,000 meters of drilling completed in 2025, targeting high-grade copper skarns throughout the Whitehorse Copper Belt. Gladiator is fully funded to conduct an additional 50,000 meters of diamond drilling in 2026, it said. This drilling will be guided by expanded gravity and IP surveys, along with further surface mapping and data integration across the Whitehorse Copper Belt.

The Whitehorse Copper Project

The Whitehorse Copper Project in Yukon, Canada, covers a 35-kilometer stretch featuring skarn-style deposits of copper, molybdenum, silver, and gold across several near-surface locations, including Cowley Park, the Chiefs Trend, and Arctic Chief.

Analyst Jeff Clark, writing in The Gold Advisor on October 29, noted that the company's drilling results continue to add strong grades and mineralization to the project ahead of its inaugural resource estimate.

He updated on January 5 with a post in which he noted, "We'll continue to hold a position in the company as our view on the business remains unchanged, it's still a buy, especially as gold prices continue to climb." 

The Catalyst: Red Metal Strong So Far in 2026

Copper reached a new all-time high on January 14, continuing its strong performance this year as optimistic demand projections and supply worries fuel the bullish outlook, according to a report by Mining.com on the same day.

Prices on the London Metal Exchange hit a record US$13,310 per ton during early trading before retreating slightly, the report noted. Other base metals also saw increases, with tin reaching a new high as well.

Copper recently experienced one of its most successful years, with a gain of over 40%. Just two weeks into 2026, the metal has already climbed by 6%, driven by growth sectors such as artificial intelligence and renewable energy, which continue to boost demand, Mining.com said. Supply concerns are also pushing copper prices higher, a trend observed throughout much of 2025. Geopolitical uncertainties, particularly those that could affect global trade, add further supply risks.

Goldman Sachs stated in December that it anticipates LME copper will exceed US$15,000 per ton by 2035, propelled by long-term demand for green energy and supply limitations. However, the bank also forecasted a short-term consolidation phase and a possible decline as early as this year.

The global copper market was valued at US$241.88 billion in 2024 and is projected to expand to US$339.95 billion by 2030, with a compound annual growth rate (CAGR) of 6.5% from 2025 to 2030, according to Grand View Research. Copper is essential in solar panels, wind turbines, and related grid infrastructure, the research firm noted.

"Due to its electrical efficiency, it plays a central role in solar photovoltaic systems, wind turbines, electric grids, and energy storage systems," Grand View stated. "The global push for cleaner energy sources to meet climate targets has led to rising installations of renewable power capacity, all requiring significant amounts of copper. Moreover, as countries upgrade aging power grids and integrate smart grid technologies, the demand for copper-intensive transmission and distribution networks continues to climb."

Ownership and Share Structure¹

Regarding ownership, 4% of Gladiator Metals' stock is held by management and insiders, and 19% is held by institutions.

Top shareholders include Mackenzie Investments with 7.19%, 1832 Asset Management LP with 6.67%, IXIOS Asset Management SA with 2.46%, Purpose Investment Inc. with 1.47%, and Shawn Khunkhun with 1.35%.

Gladiator Metals Corp. has a market cap of CA$128.71 million and has 99.78 million common shares outstanding. The 52‑week range for the stock on the TSXV was CA$0.34 to CA$1.37.