Reward expands Mountain Pond footprint to unlock high-grade Jackpot extensions
Australia-headquartered Reward Minerals has moved to consolidate highly prospective ground at its Mountain Pond gold project in Newfoundland, Canada, securing a key tenement that could extend known high-grade mineralisation at the Jackpot prospect.
The company has executed a binding letter of intent to acquire a 100% interest in an adjoining mineral licence, expanding Mountain Pond to 41 contiguous claims covering about 10 km2 of underexplored terrain.
The acquisition marks the first time in 15 years that ground on both sides of the Sullivan Pond Fault has been unified under a single operator, enabling systematic exploration of the structure, which is considered highly prospective for gold and base metals.
Historic exploration has identified strong multi-element geochemical anomalies along the fault, including gold, copper, zinc, arsenic and cobalt. Soil sampling has returned gold values of up to 1.88 g/t, while heavy mineral concentrate samples have yielded grades as high as 114 g/t gold.
The newly acquired ground also captures potential extensions of the Jackpot Prospect, where previous rock-chip sampling returned assays of up to 23.77 g/t gold and 7.48% copper from a quartz–sulphide vein system.
Despite these encouraging results, no drilling has been undertaken across the combined tenure, presenting what the company described as a compelling discovery opportunity.
Reward noted that the ground was last systematically explored in 2010, with subsequent work limited to surface sampling by individual prospectors. The company is now compiling historical data and planning maiden drilling to test priority targets during the 2026 field season.
The Mountain Pond project is located in central northern Newfoundland, near existing mining infrastructure and within trucking distance of processing facilities, positioning it within an emerging gold and base metals district.
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