Welcome to our dedicated page for Gold Springs Resource news (Ticker: GRCAF), a resource for investors and traders seeking the latest updates and insights on Gold Springs Resource stock.
Gold Springs Resource Corp. (OTCQB: GRCAF; TSX: GRC) issues frequent news updates related to the exploration and advancement of its Gold Springs gold-silver project on the Nevada–Utah border. Company news releases cover technical, financial, and corporate developments that help investors and observers follow the progress of this mineral exploration company.
News items often include the filing of audited and unaudited consolidated financial statements and accompanying MD&A, where Gold Springs Resource Corp. discusses general and administrative expenses, exploration spending, net loss, and cash balances in U.S. dollars. These updates provide regular insight into how the company allocates funds between corporate costs and exploration activities at the Gold Springs project.
Operational updates are another key component of the company’s news flow. Gold Springs Resource Corp. has reported on drilling programs at the Charlie Ross resource area, including detailed drill intercepts with gold and silver grades and gold-equivalent calculations. It has also announced work with ADT Environmental & Mineral Consultants and Global Resource Engineering on permit applications for a heap-leach processing pilot plant and a starter pit at the South Jumbo area in Utah, as well as the engagement of a drilling contractor to complete a water well near the proposed processing facility.
Corporate governance developments, such as the results of annual shareholder meetings, election of directors, and re-appointment of auditors, are also disclosed through company news releases. Readers who follow Gold Springs Resource Corp. news can track financial reporting milestones, exploration results, permitting progress, and board-level decisions in one place.
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.
Antonio Canton announced ownership of 30,181,480 common shares of Gold Springs Resource Corp. after acquiring 24,854,288 shares at CAD$0.11 each for CAD$2,733,971 on May 6, 2021. This purchase represents 9.96% of the company's outstanding shares, increasing his total stake to 12.10% on a non-diluted basis and 14.03% on a partially-diluted basis. Mr. Canton, an active director for over 10 years, intends to hold his shares for investment purposes and is open to acquiring more in the future.
Gold Springs Resource Corp. (OTCQB:GRCAF) announced progress on its 10,000-metre drilling program at the Gold Springs project, covering 2,522 meters across 15 holes. Recently drilled holes focused on the South Jumbo resource area, with 3 holes unable to reach target depth due to drilling conditions. All holes displayed signs of mineralization typically associated with the area. The company aims to extend the resource in multiple directions and has completed 25% of its drilling plan, anticipating assay results next month.
Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) has successfully closed a US$2 million first tranche of its private placement offering of secured rights. The proceeds will fund a comprehensive Resource Expansion Program at its Gold Springs Project on the Nevada-Utah border. The program aims to expand gold and silver resources significantly through drilling and environmental assessments. If successful, with estimates exceeding 3 million gold-equivalent ounces, the company plans to pursue a potential sale of the project. Investors received 2 million warrants in this tranche.