Green Bridge Metals Corporation reports developments tied to critical-mineral exploration in Minnesota's Duluth Complex. The company is a Canadian-based exploration issuer focused on acquiring and advancing mineral assets, with its South Contact District property package associated with copper, nickel, cobalt, titanium, vanadium and platinum group element mineralization.
Recurring updates cover work programs at Serpentine, Titac and Skibo, including diamond drilling, historical core re-sampling, geophysics, metallurgical testing of ilmenite-hosted titanium mineralization and NI 43-101 technical disclosure. Company news also includes regional engagement in Minnesota, additions to technical and corporate-development personnel, and clarifications of mineral-project disclosure standards.
Green Bridge Metals (CNSX:GRBM, OTCQB:GBMCF) has announced a comprehensive 12-month exploration plan for its South Contact Zone (SCZ) and Chrome Puddy projects in Minnesota and Ontario, respectively. The SCZ plan will include extensive drilling and geophysical surveys to expand known mineralized systems, focusing on the Titac, Skibo, and Boulder properties. In Chrome Puddy, efforts will target historical nickel resources using state-of-the-art airborne geophysical surveys. The company aims to enhance resource estimates and identify new exploration targets. CEO David Suda emphasized the significant potential for copper, nickel, titanium, and vanadium mineralization and expects a catalyst-rich year for shareholders.
Green Bridge Metals (CNSX:GRBM, OTCQB:GBMCF, FRA:J48, WKN:A3EW4S) announced, on June 24, 2024, that it has acquired an option to earn an 80% interest in the 8,460-hectare South Contact Zone Project in Minnesota's Duluth Complex. The project targets copper, nickel, and platinum group elements. The agreement with Encampment Minerals Inc. follows previous announcements made on February 6, 2024, and May 13, 2024. The recent closing of a private placement on June 19, 2024, has fulfilled the final condition for the option agreement. Exploration work is set to commence immediately. CEO David Suda expressed gratitude for shareholder support and partnership opportunities, highlighting the strategic importance of the Duluth Mineral Complex, one of the world's largest undeveloped mineral deposits.
Green Bridge Metals (CNSX: GRBM; OTCQB: GBMCF; FWB: J48) announced the successful closing of a non-brokered private placement, issuing 28,583,073 units at $0.13 per unit for gross proceeds of $3,715,799.55. Each unit includes one share and a half-share purchase warrant, with each warrant allowing the purchase of an additional share at $0.25 within five years.
Proceeds will support existing operations and general working capital. Arms-length finders received $194,060.01 in cash and 1,492,769 broker warrants. Additionally, 571,661 shares were issued to Amalfi Corporate Services , controlled by Green Bridge's CFO Geoff Balderson, for administrative services. All securities issued are subject to a hold period until October 20, 2024.
The company has also engaged DS Market Solutions Inc. for equity trading advisory and liquidity provider services, with a compensation of CAD$5,000 per month, starting from July 2, 2024.
Green Bridge Metals has appointed Michael Henrichsen as Technical Advisor to the Board effective immediately. Henrichsen, a seasoned geologist with a distinguished career at Newmont , brings significant expertise in structural geology. He has managed technical programs in Ghana, leading to multiple gold discoveries, and has overseen initiatives to locate high-grade ore in Peru and Nevada. At Auryn Resources, he developed a major project portfolio and secured a $35 million investment from Goldcorp. He also contributed to the acquisition and profitable sale of the Homestake Ridge Project. Currently, as Chief Geological Officer at Torq Resources, he formed a strategic partnership in Chile that led to a $15 million investment from Goldfields. CEO David Suda stated that Henrichsen's expertise will greatly influence Green Bridge's strategic decisions and accelerate growth.
On May 15, 2024, Green Bridge Metals revealed promising prospecting results for its Chrome Puddy Project, indicating significant iron-nickel oxide mineralization and a CO2 sequestration opportunity. Analysis of 52 grab samples showed nickel values up to 0.38% Ni, averaging 0.20% Ni. CEO David Suda highlighted the potential for a bulk tonnage nickel deposit and significant CO2 capture. Historically, a 1964 discovery estimated 30 million tons of nickeliferous magnetite resource. Current efforts aim to expand this with an estimated 80-100 million tons. Further exploration includes airborne surveys and drilling plans for 2024. Samples also revealed an average of 11.7% Fe, 0.015% Co, and 0.25% Cr. An incentive plan has been introduced, granting 11,050,000 stock options and 80,000 RSUs. The CO2 sequestration potential in the area due to serpentinization is under evaluation.
Green Bridge Metals has entered into a definitive agreement with Encampment Minerals Inc. for an option to earn an 80% interest in the South Contact Zone Project in Duluth Complex Minnesota. The agreement includes conditions such as completion of due diligence, regulatory approvals, and a minimum $3 million in financing.
Green Bridge Metals supports the passing of H.R. 3195 by the US House of Representatives, aiming to unlock mineral-rich land in Minnesota's Superior National Forest. The company sees the legislation as a positive step towards enhancing the domestic mineral supply chain.