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. reports recurring financial, governance and mineral-exploration updates for its public securities, including TSX:GRC and OTCQB:GRCAF. Company releases commonly cover audited and interim consolidated financial statements, MD&A, annual information forms, exploration spending, drilling-related activity, administrative costs, cash balances and net losses.
Operations updates address exploration work and project planning, while annual meeting news documents director elections, auditor appointments and shareholder voting results.
Gold Springs Resource Corp. (OTCQB:GRCAF) reported its unaudited financial results for the six months ending June 30, 2021. The company holds a working capital of $3.10 million with $3.43 million in cash. Exploration spending surged to $1.17 million from $0.41 million year-over-year. However, net losses increased to $0.91 million compared to $0.59 million in 2020. The company recognized a non-cash loss from its investment in World Copper Ltd. but plans to sell shares for CAD$4,364,315. The focus remains on exploring the Gold Springs project.
Gold Springs Resource Corp. (OTCQB:GRCAF) announced the unconditional sale of its 13,225,198 common shares of World Copper Ltd. for CAD$4,364,315, with payment due by October 22, 2021. The funds will be directed towards an expanded drilling program at its Gold Springs project, increasing the drilling to 27,300 meters in 2021. This effort aims to explore key targets like North Jumbo, Charlie Ross, and Midnight, enhancing the potential for significant gold resources in Nevada and Utah, two favorable mining jurisdictions.
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.