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GPM Metals Inc. (TSXV: GPMTF) is a mineral exploration company based in Toronto, Ontario. The company focuses on identifying, acquiring, and developing mineral properties in Australia and other regions. GPM Metals has recently granted options to directors, officers, and consultants, demonstrating its commitment to growth and development. The Walker Gossan Project in Arnhem Land, Australia, is a key area of focus for GPM Metals, with ongoing exploration activities aimed at uncovering valuable mineral deposits. The company's exploration efforts are supported by partnerships with local Traditional Land Owners and government agencies, emphasizing its commitment to responsible and sustainable mining practices. GPM Metals' forward-looking approach to mineral exploration positions it as a key player in the industry.
GPM Metals (TSXV: GPM) has selected DDH1 Drilling Pty as the drilling contractor for its Walker Gossan Project, aiming to complete a 3,000 m drill program. The drilling will target anomalies indicative of large polymetallic gossan systems like those at MacArthur River and Mount Isa. DDH1 operates over 70 multipurpose rigs across Australia.
Additionally, GPM has appointed Benn Whistler as Exploration Manager to oversee the project. Whistler brings 30 years of experience in geology and exploration, including significant discoveries like SolGold's Cascabel and Porvenir deposits.
GPM has also engaged Haywood Securities as a financial advisor to support its financing and corporate objectives.
GPM Metals Inc. (TSXV: GPM) has announced a non-brokered private placement of up to 36,666,667 units at C$0.06 per unit, aiming to raise approximately C$2,200,000. Each unit consists of one common share and half a warrant, with each whole warrant allowing the purchase of one common share at C$0.10 within 24 months of closing. The proceeds will fund exploration at the Walker Gossan Project in Australia and general corporate purposes. The offering, subject to regulatory approvals, is expected to close around August 30, 2024, with a four-month hold period on securities. No finders' fees are anticipated.
GPM Metals Inc. (TSXV: GPMTF) has received approval from Traditional Landowners for its 2024/2025 exploration work program at the Walker Gossan Project in the Carpentaria Zinc Belt. The program includes on-ground works and a diamond drilling campaign of up to 30 holes, targeting large, coincident gravity, radiometric, and geochemical anomalies indicative of giant polymetallic gossan systems.
Key points:
- Geology team to mobilize in coming weeks to establish a work camp and finalize drill targets
- Drilling campaign planned to commence in early September 2024
- Agreement grants rights for both exploration and potential full mining operation
- GPM completed a Sale and Purchase agreement with Rio Tinto Exploration, preserving farm-in rights while giving GPM control over the tenements
GPM Metals has finalized its 2024-25 exploration plan for the Walker Gossan Project in Arnhem Land, Australia, covering areas EL24305 and EL385. The plan is based on prior exploration activities and a 2023 Aerial Gravity Gradiometric (AGG) survey, which identified a significant 2km by 1km gravity anomaly. The program includes geological reconnaissance, ground gravity surveys, soil and outcrop sampling, and diamond and RC drilling to target potential base metal deposits. Mobilization is expected by early August 2024, pending approval from Traditional Owners. GPM also recently expanded its land holdings through an agreement with Rio Tinto Exploration.
GPM Metals announced the granting of 1,300,000 options to an officer. These options are exercisable at $0.10 per share until June 26, 2027. The options vest in stages, with 25% vesting immediately and the remaining 75% vesting in equal parts every six months over the next 18 months. This grant is subject to approval by the TSX Venture Exchange.
On June 21, 2024, GPM Metals issued a correction regarding its Sale and Purchase Agreement with RTX, replacing the previous Farm-in Agreement. The correct contingent payment clause stipulates that RTX retains the right to be paid an amount equivalent to 1,000 tonnes of zinc and lead upon the definition of a JORC Code compliant resource exceeding 20 million tons at 8% combined lead and zinc, or upon a mining decision. This agreement, pending approval from Northern Territory mining authorities and the Northern Land Council, facilitates the transfer of exploration licenses from RTX to GPM's subsidiary, DPG Resources Australia. Additionally, two other licenses over adjacent ground will also be transferred. This aims to streamline access approvals and exploration activities.
GPM Metals has finalized a Sale and Purchase Agreement with Rio Tinto Exploration (RTX) regarding its Walker Gossan Project in Arnhem Land, Australia. The agreement, which replaces a previous Farm-in Agreement, will see RTX transfer existing and applied-for exploration licenses to GPM's Australian subsidiary, DPG Resources Australia. RTX retains rights to a minority joint venture interest if certain milestones are met, including a 49% interest option after GPM spends A$20 million and a 25% interest upon project feasibility completion. Additionally, RTX will receive A$4 million upon the definition of a significant mineral resource or a mining decision. The agreement, pending approval from Northern Territory authorities, aims to streamline exploration activities and grant processes.
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