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GOLDEN SPIKE RES CORP - GSPRF STOCK NEWS

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Golden Spike Resources Corp. is a Canadian mineral exploration company focusing on identifying, acquiring, and unlocking mineral opportunities in Canada and low-risk jurisdictions. The company holds a 100% interest in the 3,425-hectare Gregory River Property in Newfoundland, strategically positioned over an 11-kilometer stretch of the Gregory River VMS-belt with potential for Cyprus-type polymetallic VMS deposits. Additionally, the property hosts high-grade copper-gold vein structures that have been historically explored. Proceeds from recent private placements and debt settlement agreements are being used for exploration and development of their projects in Newfoundland, as well as for general working capital. The company is committed to sustainable exploration practices and community partnerships for its work programs.

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Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) has been awarded a $95,691.86 grant under the Junior Exploration Assistance (JEA) program by the Government of Newfoundland and Labrador. This grant will support the company's ongoing exploration activities on its Gregory River project in Newfoundland. The funding will enable Golden Spike to advance its exploration programs, including IP surveys, prospecting work, and drilling initiatives.

The company plans to complete Induced Polarization (IP) surveys and detailed prospecting on the Gregory River property, followed by a drilling program focusing on high-priority targets. Golden Spike has also engaged Black Swan Solutions Inc. dba VHLA Media for a 6-month digital marketing campaign at a cost of C$100,000 plus GST.

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Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) has announced the start of its 2024 exploration program on the Gregory River copper-gold property in western Newfoundland. The program includes:

1. IP/resistivity surveys over the Steep Brook target and Vein Zone
2. Prospecting and geological mapping/sampling across key targets
3. Aim to be drill-ready by early fall at Steep Brook, Vein Zone, and Lode 9

The company plans to generate diamond drill targets through data interpretation and modeling. Additionally, Golden Spike has granted 1,550,000 stock options to directors, officers, and consultants, exercisable at $0.20 per share for 5 years, subject to regulatory approval.

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Golden Spike Resources Corp. (CSE: GLDS, OTCQB: GSPRF, FSE: L5Y) announced the acquisition of an additional mineral license covering 1,625 hectares adjacent to its Gregory River Copper-Gold property in Newfoundland, expanding the property to approximately 5,050 hectares. This expansion includes potential extensions of the Gregory River VMS belt and adds unexplored areas for future discoveries.

The newly acquired land includes historical samples with significant copper and gold grades. Golden Spike plans to initiate a summer exploration program focusing on the Steep Brook VMS-target and the high-grade copper-gold Vein Zone, with IP/Resistivity surveys to identify drill targets for a fall drilling phase.

The company emphasizes sustainable exploration practices and collaboration with local stakeholders.

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Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) has closed a non-brokered private placement financing of 4,166,166 Units at $0.15 per Unit, raising $625,000 in gross proceeds. Each Unit includes one common share and one-half of a transferable common share purchase warrant, with each warrant allowing purchase of an additional common share at $0.30 for two years. The company paid $8,000 in cash and issued 1,200 Warrants in Finder's fees. Eric Sprott, through 2176423 Ontario , acquired 2,000,000 Units for $0.15 per Unit, investing $300,000. Post-placement, Sprott owns 12.3% of outstanding shares (16.5% partially-diluted). Proceeds will fund the exploration of Golden Spike's Gregory River copper-gold property in Newfoundland and for general working capital.

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Golden Spike Resources Corp. (CSE: GLDS, OTCQB: GSPRF, FSE: L5Y) has amended its non-brokered private placement financing to offer 4,170,500 units at $0.15 per unit, raising $625,575. Each unit includes one common share and one-half of a transferable common share purchase warrant, exercisable at $0.30 for two years. The offering, set to close on June 21, 2024, is oversubscribed with a significant lead order from Eric Sprott, enhancing his stake to over 10%. The funds will support exploration of Golden Spike's Gregory River copper-gold property in Newfoundland and general working capital. The property, acquired in July 2022, spans 3,425 hectares and features multiple high-grade copper and gold veins. Exploration will focus on Lode 9, Steep Brook, and the Vein Zone, with drilling planned for fall 2024. The company emphasizes sustainable and community-focused exploration practices.

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Golden Spike Resources Corp. (CSE: GLDS, OTCQB: GSPRF, FSE: L5Y) announced an oversubscribed non-brokered private placement financing of up to 4,000,000 units at $0.15 per unit, totaling $600,000. Each unit includes one common share and one-half of one transferable common share purchase warrant, exercisable at $0.30 for two years. Eric Sprott, a major shareholder, has made a lead order in this financing. Proceeds will fund exploration of Golden Spike's Gregory River copper-gold property in Newfoundland and general working capital. The exploration includes prospecting, IP/Resistivity surveys, and drilling to identify high-grade copper-gold targets.

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Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) issued 562,500 common shares at $0.08 per share to settle a debt of CAD$45,000, preserving cash for operations. The shares will be subject to a hold period expiring on April 13, 2024.
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Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) has entered into a debt settlement agreement with an arm's length third party, issuing 562,500 common shares at a deemed price of $0.08 per Share to settle a total indebtedness of CAD$45,000. The Company chose to settle the debt with shares to preserve cash for operations, pending approval from the Canadian Securities Exchange.
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Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) has closed a private placement financing, issuing 3,950,000 Units at $0.08 per Unit for gross proceeds of $316,000. Eric Sprott acquired 2,500,000 Units for total consideration of $200,000, increasing his ownership to 8.7% on a non-diluted basis. The proceeds will be used for exploration and development of the Company's projects in Newfoundland, and for general working capital.
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Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) is proceeding with a private placement financing of 3,950,000 Units at $0.08 per Unit, resulting in gross proceeds of $316,000. Each Unit includes one common share and one-half of one warrant, with each whole warrant exercisable at $0.10 per common share for 2 years from closing. The Private Placement is scheduled for December 5th, 2023, and the Company will pay finder's fees consisting of 8% cash and 8% warrants. The proceeds will be utilized for exploration and development of the Company's projects in Newfoundland, as well as for general working capital. The Private Placement is subject to the acceptance of the CSE.
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FAQ

What is the current stock price of GOLDEN SPIKE RES (GSPRF)?

The current stock price of GOLDEN SPIKE RES (GSPRF) is $0.15 as of October 11, 2024.

What is the market cap of GOLDEN SPIKE RES (GSPRF)?

The market cap of GOLDEN SPIKE RES (GSPRF) is approximately 7.3M.

What is Golden Spike Resources Corp. focused on?

Identifying, acquiring, and unlocking value in mineral opportunities in Canada and low-risk jurisdictions.

Where is the Gregory River Property located?

In Newfoundland, strategically positioned over an 11-kilometer stretch of the Gregory River VMS-belt.

What type of deposits are potential at the Gregory River Property?

Cyprus-type polymetallic VMS deposits.

How is Golden Spike utilizing recent private placement financing proceeds?

For exploration and development of their projects in Newfoundland, as well as for general working capital.

What exploration programs are planned for the Gregory River Property?

Exploration at the highly prospective Lode 9 and Steep Brook VMS-targets, as well as the Vein Zone, with a focus on high-grade copper-gold veins.

What is the company's approach to sustainable exploration practices?

Golden Spike is deeply committed to sustainable and environmentally conscious exploration practices, working in close partnership with local entities.

Who is the President and CEO of Golden Spike Resources Corp.?

Keith Anderson

Where is Golden Spike Resources Corp. headquartered?

Vancouver, BC

What is the contact information for Golden Spike Resources Corp.?

830 - 1100 Melville St., Vancouver, BC, V6E 4A6, +1 (604) 786-7774, info@goldenspikeresources.com, www.goldenspikeresources.com

What is the focus of the company's exploration programs?

To pinpoint drill targets and execute subsequent drill programs, with a focus on high-grade copper-gold veins and VMS deposits.

GOLDEN SPIKE RES CORP

OTC:GSPRF

GSPRF Rankings

GSPRF Stock Data

7.33M
32.39M
17.26%
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