Gold Springs Resource Corp Stock Price, News & Analysis

Gold Springs Resource Corp. (OTCQB: GRCAF) has announced drilling results from eight additional holes at its Gold Springs project, revealing significant gold equivalent intercepts. Highlights include:

• 0.59 g/t gold equivalent over 18.3 meters in hole E-22-007
• 1.37 g/t gold equivalent over 4.6 meters in hole E-22-009
• 0.79 g/t gold equivalent over 19.9 meters in hole E-22-014

The drilling program aims to extend existing resources and target new areas of gold mineralization, with 44 holes completed out of a planned 20,100 meters.

Gold Springs Resource Corp. (OTCQB:GRCAF) announces the filing of a Mineral Resource Estimate NI 43-101 Technical Report for its Gold Springs Project, effective June 13, 2022. The report, prepared by Global Resource Engineering, shows the mineral resource estimate is similar to prior disclosures. Key figures include:

• Measured: 26,168,000 tonnes, 0.524 g/t Au, 379,000 Troy oz Ag
• Indicated: 23,466,000 tonnes, 0.513 g/t Au, 386,000 Troy oz Ag
• Inferred: 8,220,000 tonnes, 0.461 g/t Au, 225,000 Troy oz Ag

This update reflects gross metal content not adjusted for recoveries.

Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) announced that all shareholder resolutions were approved at its 2022 Annual Meeting. Five directors were elected with Antonio Canton receiving 99.63% of votes for re-election. PricewaterhouseCoopers LLP was re-appointed as the Company's auditors. Laurent Arnoux joins the Board as an Independent Consultant. Gold Springs Resource is focused on exploring gold and silver resources in its Gold Springs project located on the Nevada-Utah border, a prime mining area.

Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) announced a significant updated mineral resource estimate for its Gold Springs Project, reporting a total measured and indicated resource of 1,005,003 oz gold equivalent. The estimated resources include 548,071 oz measured and 456,932 oz indicated, alongside 144,379 oz inferred. The update is based on 2021 drilling data and reflects strong growth potential with 33 high-potential gold targets identified. The company aims to further increase resources and complete mine permitting in the next two years.

Gold Springs Resource Corp. (OTCQB:GRCAF) has announced drill results from its 2022 program at the South Jumbo resource in Nevada and Utah. The first six holes reported highlight significant gold equivalent intercepts, including 1.46 g/t over 9.2 meters in hole E-22-002 and 1.36 g/t over 27.4 meters in hole E-22-003. With 14 holes completed out of a planned 20,100 meters, the results confirm resource extension and are expected to lead to more results in the coming weeks. The exploration continues at various targets, aiming to enhance the project's overall resource value.

Antonio Canton, President and CEO of Gold Springs Resource Corp, reported his acquisition of 72,000 common shares through the Toronto Stock Exchange on May 18, 2022. This purchase raises his total ownership to 34,641,980 common shares, or 13.51% of the issued shares on a non-diluted basis. Mr. Canton has indicated that this acquisition is for investment purposes and has no immediate plans to dispose of his holdings. He has been involved with the Company for nearly 12 years and believes in the potential of the Gold Springs Project.

Gold Springs Resource Corp. (TSX:GRC)(OTCQB:GRCAF) announced its annual general meeting (AGM) to be held in Toronto and Vancouver on June 16, 2022. The company released its unaudited Q1 2022 financial results, showing a working capital of $3.55 million and a net loss of $0.24 million, an improvement from a $0.46 million loss in Q1 2021. Exploration spending increased to $0.53 million. The company is focused on mineral resource expansion at its Gold Springs project in Nevada and Utah, with drilling commenced in April 2022.

Gold Springs Resource Corp. (OTCQB:GRCAF) has completed its first six drill holes in its 2022 drilling program at the South Jumbo resource in the Gold Springs project on the Nevada-Utah border. Notable results include hole E-21-012, which showed an intersection of 5.37 g/t gold equivalent over 19.8 meters. All holes encountered favorable mineralization, and the company plans to drill six more holes at South Jumbo before moving to an additional site. A resource update based on 2021 drilling is expected by late May 2022.

Gold Springs Resource Corp. (OTCQB:GRCAF) released its audited financial statements for the year ended December 31, 2021. The company reported a working capital of $3.95 million, including $3.82 million in cash. General and administrative expenses decreased to $0.76 million, while exploration spending rose significantly to $3.51 million, funded by $3 million raised from Series A Secured Rights. The company achieved a net income of $1.12 million, compared to a net loss of $1.35 million in 2020, aided by a $2.61 million gain from the sale of shares in World Copper Ltd.