Welcome to our dedicated page for Golden Spike news (Ticker: GSPRF), a resource for investors and traders seeking the latest updates and insights on Golden Spike stock.
Golden Spike Resources Corp. (OTCQB: GSPRF; CSE: GLDS; FSE: L5Y) generates a steady stream of technical and corporate news tied to its exploration work at the Gregory River copper-gold property in western Newfoundland. As a Canadian mineral exploration company focused on volcanogenic massive sulphide (VMS) and copper ± gold vein targets, its updates often contain detailed geological and assay information.
On this page, readers can follow news about Golden Spike’s multi-phase exploration programs, including prospecting and rock sampling campaigns, soil geochemistry surveys, induced polarization/resistivity (IP) results, and both diamond drilling and Winkie drilling. Releases describe work at key targets such as Steep Brook, Lode 9, Lode 9 Northeast, the Vein Zone (including Court A, B and C), Lower Mitchell and Vein Zone West, with summaries of significant copper, gold, zinc and associated pathfinder element results where available.
In addition to project-level updates, Golden Spike’s news flow includes information on private placement financings, flow-through and non-flow-through unit offerings, and participation by investors and finders. The company also reports on support from programs such as the Newfoundland Junior Exploration Assistance (JEA) Program and provides Qualified Person statements and QA/QC details for its sampling and analytical work.
Investors and observers can use this news feed to monitor Golden Spike’s ongoing exploration progress, from initial target definition through drilling campaigns and interpretation of results, as the company works to evaluate the copper-gold potential of the Gregory River VMS-belt and associated vein systems.
Golden Spike Resources has announced positive results from IP surveys at its Gregory River copper-gold property in western Newfoundland. The surveys identified multiple high-priority chargeability and resistivity anomalies at three target areas: Steep Brook, Lode 9, and the Vein Zone.
Key highlights include:
- 15.5 line-kilometers of IP surveying completed at Steep Brook and the Vein Zone
- Re-processing of Lode 9 IP data
- Multiple drill targets generated across all three areas
- Drilling program set to commence in October
The IP results, combined with geological and geochemical data, have been used to generate drill hole locations. Drill pad construction is underway, and the company expects to start its inaugural diamond drilling program later this month.
The surveys revealed promising anomalies that coincide with known mineralization and suggest potential for wider mineralized systems with significant depth extent. Golden Spike plans to drill approximately 14 holes totaling 3,000 meters across the three target areas.
Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) has successfully closed its private placement offerings, raising a total of $2.39 million. The company completed a brokered offering of $1.84 million and the first tranche of a non-brokered offering for $557,500. The brokered offering, led by Kernaghan & Partners , issued 8,000,000 flow-through units at $0.23 per unit. The non-brokered offering issued 2,787,500 non-flow-through units at $0.20 per unit.
Notably, Eric Sprott participated in both offerings, subscribing for $300,000 in flow-through units and $100,000 in non-flow-through units. The proceeds from the flow-through units will be used for Canadian exploration and development of the company's Newfoundland project, while the non-flow-through units' proceeds will be used for general working capital purposes.
Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) announces two private placements: a non-brokered NFT Unit offering for up to $1,000,000 and a brokered FT Unit offering for up to $1,840,000. The NFT Units, priced at $0.20, include one common share and half a warrant exercisable at $0.30. The FT Units, priced at $0.23, consist of one flow-through share and half a warrant exercisable at $0.33. Eric Sprott is leading the NFT placement, potentially increasing his 12.3% stake. Kernaghan & Partners will act as lead agent for the FT placement. Proceeds will fund Canadian exploration, particularly in Newfoundland, and working capital. Both offerings include a 6% finder's fee and 6% warrants.
Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) has responded to OTC Markets' request regarding promotional activity of its common shares. The company acknowledged a promotional newsletter distributed by Spartan Trading Inc. on August 19, 2024, which was part of a marketing agreement with VHLA Media Inc. Golden Spike stated that while they provided factual information, they didn't have editorial control over the materials.
The company believes the increased trading activity on August 19 was due to the promotional materials and a news release about completing their Phase 1 exploration program at the Gregory River copper-gold property. A director sold 200,000 shares at $0.21 per share on August 19. Golden Spike confirmed issuing shares and convertible securities at a discount to market price, as is common for CSE-listed companies.
Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) has successfully completed its 2024 Phase 1 exploration program at the Gregory River copper-gold property in western Newfoundland. The program included IP/Resistivity surveys, prospecting, sampling, and in-fill soil sampling. Key highlights:
1. IP surveys completed over Steep Brook VMS target and part of the Vein zone
2. Prospecting and sampling conducted across Steep Brook and other areas
3. Additional soil samples collected at the Vein Zone
4. Data will be used to generate drill targets for Steep Brook, Vein zone, and Lode 9 areas
5. Company expects to be drill-ready by early fall 2024
The program, partially supported by a government grant, aims to unlock the mineral potential of the property. Results are being processed and interpreted to prepare for the next phase of exploration, including drill testing of promising targets.
Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) has announced a strategic partnership with Altitude Capital Consultants Inc. to enhance its market presence and investor outreach. The company will compensate Altitude with a $10,000 monthly fee for 12 months, totaling $120,000. Additionally, a one-time fee of $100,000 will be charged for a comprehensive digital marketing campaign. Golden Spike will also grant Altitude 400,000 share purchase options at an exercise price of $0.20 per share.
Michael A. Wekerle, Managing Partner of Altitude, brings extensive experience in capital markets, having played key roles in significant corporate transactions and investments. This partnership aims to support Golden Spike as it advances its exploration and development programs.
Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) has announced a strategic partnership with Altitude Capital Consultants Inc. and ECM Capital Advisors Inc. for market advisory and digital marketing services. The collaboration aims to enhance Golden Spike's market presence and investor outreach as the company advances its exploration and development programs.
Key points of the agreement include:
- A monthly market advisory fee of $10,000 for 12 months, totaling $120,000
- A one-time fee of $100,000 for a comprehensive digital marketing campaign
- Granting of 400,000 share purchase options to Altitude at an exercise price of $0.20 per share
- Potential additional 500,000 share purchase options based on partnership performance
The partnership brings on board Michael A. Wekerle, Managing Partner of Altitude, and Eugene C. McBurney, Managing Partner of ECM, both with extensive experience in capital markets and the mining sector.
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.
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.
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.