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G50 Corp (OTCQB: GFTYF) has secured A$10.0 million through an oversubscribed placement to Australian institutions at A$0.25 per share, representing a 10.4% discount to the 5-day VWAP. The funding will support extensive drilling and testwork at the company's Golconda Gold-Silver-Zinc Project in Arizona.
The company plans to commence core drilling in September, followed by RC drilling, with a focus on gallium mineralization previously confirmed along one kilometer of Golconda patented claims. The funds will support metallurgical testing, development of a maiden Mineral Resource Estimate (MRE), and initial permitting work.
Notably, the project's gallium component has strategic importance as China currently controls 100% of gallium supply and has banned its export to the U.S., where it's critical for defense products and data center power demands.
G50 Corp (OTCQB: GFTYF) has announced final results from its Phase 2 drilling program at the Golconda Project in Arizona, confirming a significant polymetallic discovery. The project revealed mineralization extending over 700m strike length and depths up to 180m, containing gold, silver, zinc, and gallium.
The company identified two major target zones - the Tub and the Tub Footwall - both showing strong mineralization with gold grades increasing at depth. Notably, recent mineralogy tests confirmed sericite as the primary host for gallium mineralization, leading to U.S. Representative Paul Gosar recognizing it as a critical mineral project for Arizona.
The project's mineralogy breakthrough enables traditional mineral processing techniques for gallium concentration and extraction, positioning G50 to potentially support Western world's strategic and precious metals supply needs.
G50 Corp (OTCQB: GFTYF) has announced a significant mineralogical breakthrough at its Golconda Gold-Silver-Zinc Project in Arizona. Phase 2 test work revealed that 85-92% of gallium is present in sericite, a type of muscovite mineral. This discovery enables the use of traditional mineral processing techniques for gallium extraction.
The finding is particularly significant as China currently controls 100% of global gallium supply and has recently banned its export to the US. The Golconda Project could become a crucial domestic source of gallium, which is essential for US defense products and data center power requirements. Recent drilling has also confirmed consistent gallium grades along with new gold, silver, and zinc discoveries across both strike and depth.
G50 Corp (OTCQB: GFTYF) has commenced trading on the OTCQB platform, marking a significant milestone in expanding its US investor presence. The company, which currently has 9% US ownership, operates the Golconda Project in Arizona, reportedly the only publicly-traded gallium project in the United States.
The cross-listing aligns with increasing US government focus on securing domestic critical mineral supplies, particularly gallium, amid concerns over Chinese supply dependencies. The company's strategic position in the southwestern United States, near existing mining infrastructure, positions it to capitalize on growing demand from AI data centers, electric vehicles, and defense applications.
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