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Golden Spike Resources Corp. explores for copper, gold and zinc mineralization at its 100%-owned Gregory River Copper-Gold Property in western Newfoundland. Company updates center on diamond and Winkie drilling, soil sampling, prospecting and assay results tied to volcanogenic massive sulphide (VMS) and vein-style targets, including Steep Brook, Lode 9, Lower Mitchell and the Vein Zone. News also includes financing activity used to support exploration programs.
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.
Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) has closed a non-brokered private placement financing of 4,166,166 Units at $0.15 per Unit, raising $625,000 in gross proceeds. Each Unit includes one common share and one-half of a transferable common share purchase warrant, with each warrant allowing purchase of an additional common share at $0.30 for two years. The company paid $8,000 in cash and issued 1,200 Warrants in Finder's fees. Eric Sprott, through 2176423 Ontario , acquired 2,000,000 Units for $0.15 per Unit, investing $300,000. Post-placement, Sprott owns 12.3% of outstanding shares (16.5% partially-diluted). Proceeds will fund the exploration of Golden Spike's Gregory River copper-gold property in Newfoundland and for general working capital.
Golden Spike Resources Corp. (CSE: GLDS, OTCQB: GSPRF, FSE: L5Y) has amended its non-brokered private placement financing to offer 4,170,500 units at $0.15 per unit, raising $625,575. Each unit includes one common share and one-half of a transferable common share purchase warrant, exercisable at $0.30 for two years. The offering, set to close on June 21, 2024, is oversubscribed with a significant lead order from Eric Sprott, enhancing his stake to over 10%. The funds will support exploration of Golden Spike's Gregory River copper-gold property in Newfoundland and general working capital. The property, acquired in July 2022, spans 3,425 hectares and features multiple high-grade copper and gold veins. Exploration will focus on Lode 9, Steep Brook, and the Vein Zone, with drilling planned for fall 2024. The company emphasizes sustainable and community-focused exploration practices.
Golden Spike Resources Corp. (CSE: GLDS, OTCQB: GSPRF, FSE: L5Y) announced an oversubscribed non-brokered private placement financing of up to 4,000,000 units at $0.15 per unit, totaling $600,000. Each unit includes one common share and one-half of one transferable common share purchase warrant, exercisable at $0.30 for two years. Eric Sprott, a major shareholder, has made a lead order in this financing. Proceeds will fund exploration of Golden Spike's Gregory River copper-gold property in Newfoundland and general working capital. The exploration includes prospecting, IP/Resistivity surveys, and drilling to identify high-grade copper-gold targets.
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