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Gold Springs Resource Corp (GRCAF) is a mining company focused on the exploration and expansion of gold and silver resources at its Gold Springs project in the USA. The company recently reported positive assay results confirming extensions of high-grade deposits in the North Jumbo and South Jumbo resource areas. With a strategic focus on the Charlie Ross Resource area, Gold Springs aims to expand its three parallel zones (Western, Central, and Eastern) to capitalize on significant gold mineralization opportunities. The company's recent financial statements show a prudent approach to cost management and exploration spending, positioning it for continued growth and success in the mining industry.
Gold Springs Resource Corp. has completed 9,500 meters of its 27,300 meters drilling program at its Gold Springs project on the Nevada-Utah border. The company drilled 13 holes in the new Charlie Ross target, revealing thick altered zones aligned with a CSAMT high resistivity anomaly, indicating potential gold mineralization. Initial findings include two stacked zones with significant thickness, with assays expected in October. The project aims to expand gold and silver resources within a prime mining jurisdiction.
Gold Springs Resource Corp. (OTCQB:GRCAF) reported its unaudited financial results for the six months ending June 30, 2021. The company holds a working capital of $3.10 million with $3.43 million in cash. Exploration spending surged to $1.17 million from $0.41 million year-over-year. However, net losses increased to $0.91 million compared to $0.59 million in 2020. The company recognized a non-cash loss from its investment in World Copper Ltd. but plans to sell shares for CAD$4,364,315. The focus remains on exploring the Gold Springs project.
Gold Springs Resource Corp. (OTCQB:GRCAF) announced the unconditional sale of its 13,225,198 common shares of World Copper Ltd. for CAD$4,364,315, with payment due by October 22, 2021. The funds will be directed towards an expanded drilling program at its Gold Springs project, increasing the drilling to 27,300 meters in 2021. This effort aims to explore key targets like North Jumbo, Charlie Ross, and Midnight, enhancing the potential for significant gold resources in Nevada and Utah, two favorable mining jurisdictions.
Gold Springs Resource Corp. (TSX:GRC, OTCQB:GRCAF) has announced an increase in its 2021 drilling program to 13,300 meters at the Gold Springs project, located between Nevada and Utah. The company plans to drill at the White Point target, which is near high-grade gold veins with historical results over 18 g/t Au. The initial drill program will start in August 2021. Previous successful drilling revealed impressive intercepts, including 5.30 g/t gold over 19.8 meters. The company is optimistic about its exploration potential amidst positive mining conditions.
Gold Springs Resource Corp. (OTCQB: GRCAF) has announced positive results from its ongoing 2021 drill program at the Gold Springs Project. Highlights include:
- 5.30 g/t gold and 12.4 g/t silver over 19.8 meters in hole E-21-012.
- 1.58 g/t gold and 8.3 g/t silver over 9.1 meters in hole E-21-004.
- 2.10 g/t gold and 3.4 g/t silver over 3.1 meters in hole J-21-001.
- 4.32 g/t gold and 10.3 g/t silver over 1.6 meters in hole J-21-001.
The program has completed 31 holes totaling 6,020 meters of drilling, targeting both extensions and new areas of mineralization.
Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) has successfully closed an additional tranche of its private placement offering, raising US$1 million. The new tranche includes 1,000,000 common share purchase warrants at a price of CAD$0.14 per share. Proceeds will fund a Resource Expansion Program at the Gold Springs Project, aimed at significantly increasing gold and silver resources. If successful, the Company may pursue an Exit Transaction. The investor in this tranche is a director of the Company, relying on exemptions from formal valuation and minority shareholder approval requirements.
Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) has appointed Antonio Canton as the new President and CEO, effective June 30, 2021, succeeding Matias Herrero. Canton, a Swiss Certified Public Accountant with over ten years of experience as a director of the Company, previously played a key role in several major developments, including the merger with High Desert Gold Corp. and negotiations related to the Malku Khota project. He is also pivotal in raising up to US$20 million for upcoming drilling at the Gold Springs project, enhancing the Company's strategic direction.
Gold Springs Resource Corp. (TSX:GRC, OTCQB:GRCAF) announced the approval of all resolutions at its 2021 Annual Meeting held in Vancouver, British Columbia. The number of directors has been set at six, with the elected directors receiving significant support: Tina Woodside-Shaw received 99.02% of votes, while Antonio Canton garnered 97.42%. PricewaterhouseCoopers LLP was re-appointed as auditors. The company is focused on exploring gold and silver resources in the Gold Springs project, situated on the Nevada-Utah border in a prime mining region.
Gold Springs Resource Corp. (OTCQB:GRCAF) announced progress in its 10,000-metre drilling program at the Gold Springs project in Nevada and Utah. The company has completed 3,931 meters across 22 drill holes, including 1,377 meters in the latest update. Four holes were drilled in the South Jumbo resource area to expand gold mineralization, while three were in the Central Jumbo area testing a geophysical anomaly. CEO Matias Herrero noted that 40% of the drilling program is complete, with assay results expected soon.
Gold Springs Resource Corp. (TSX:GRC, OTCQB:GRCAF) has released its unaudited financial statements for Q1 2021, reporting a net loss of $0.46 million, compared to $0.36 million in Q1 2020. The company maintains a working capital of $1.39 million, including $1.48 million in cash. Exploration expenditures rose to $0.27 million. Principal activities included 2,522 meters drilled at the Gold Springs project. The company's outlook centers on resource expansion and ongoing drilling efforts in Nevada and Utah.
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