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Signature Resources Ltd. - SGGTF STOCK NEWS

Welcome to our dedicated page for Signature Resources Ltd. news (Ticker: SGGTF), a resource for investors and traders seeking the latest updates and insights on Signature Resources Ltd. stock.

SIGNATURE RES LTD CDA (SGGTF) is a Canadian mining company that focuses on the exploration and development of the Lingman Lake gold property in Ontario. The company recently completed updating its geologic model, identifying new high-grade mineralization zones. Signature is offering a private placement to fund its 2024 drilling program, with plans to expand its resource and publish an NI 43-101 report in 2025. The Lingman Lake Project consists of a significant number of staked claims and patented claims, including the historically significant Lingman Lake Gold Mine.

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Signature Resources announces the start of its 2024 drilling program after completing an initial field program. The field program helped understand structural controls, and 101 samples were collected for analysis at SGS's Red Lake facilities. The drill plan involves 14 drill holes over 4,650 meters, with the program expected to finish by fall 2024. Data collection will be followed by an independent audit, paving the way for a maiden NI 43-101 resource report in Spring 2025. CEO Dan Denbow, initially interim, is now appointed permanently, and Matthew Goodman joins the Audit Committee.

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Signature Resources has successfully closed an upsized equity financing, issuing 10,900,000 flow-through shares and 31,143,506 non-flow-through shares at $0.05 per share, raising $2,102,175. Originally announced on May 2, 2024, the offering was upsized on May 22, 2024, due to strong demand. Insiders of Signature purchased 36% of the offering. The funds will support the 2024 drill program at the Lingman Lake Project and general working capital. The drill program aims to complete the initial NI 43-101 resource statement. Field activities included site mapping, channel sampling, and drill site preparation with 101 samples collected for analysis. Drilling is expected to start in early July 2024.

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Signature Resources has received its exploration permit for the Lingman Lake project, covering 197 claims for three years. This permit allows the company to proceed with its 2024 drilling campaign and future operations, aiming to publish a maiden NI 43-101 by spring 2025. The company also announced an upsizing of its equity financing. Initially set at C$1,000,000, the offering has been increased to C$2,100,000 due to high demand. The proceeds will be used for the drilling program and general working capital, with 10% allocated to the latter. Management and the board are expected to subscribe to about one-third of the offering.

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Signature Resources announces an equity financing plan to offer flow-through and non-flow-through shares for up to C$1,000,000. The company expects over half of the offering to be subscribed by its board members and management. The net proceeds will fund the 2024 drilling program and general working capital purposes. The 2024 field program has begun, focusing on historical activity mapping, structural mapping, and locating proposed drill locations. The program aims to enhance understanding of the Lingman Lake Project for a maiden NI 43-101 publication in spring 2025.

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Signature Resources announces completion of geologic model update, revealing high-grade mineralization at Lingman Lake Project. New targets identified through AI modeling for 2024 program. CEO expects a catalyst-rich year benefiting shareholders.
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Signature Resources Ltd. (TSXV: SGU) (OTCQB: SGGTF) (FSE: 3S3) has successfully completed a private placement of flow-through and non-flow-through shares, raising gross proceeds of C$696,250. The Offering was increased from the previously announced amount of C$600,000 and included 20,045,455 FT shares at C$0.0275 per share and 5,800,000 NFT Shares at a price of C$0.025. The net proceeds will be used for resource modelling, designing the 2024 drill program, exploration data compilation, and general working capital purposes. The company is excited to announce that it has added a significant individual investor, Jonathan Goodman, who will own 17% of the outstanding shares. The Wataynikaneyap Transmission Power Project is making progress in Northwestern Ontario and is expected to support several First Nations communities in the region. Additionally, the Board of Directors has voted to increase its membership to six and has appointed Matthew Goodman, who brings over 12 years of experience in capital markets and junior mining.
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Signature Resources Ltd. is offering a non-brokered private placement of flow-through shares and non-flow-through shares for gross proceeds of up to C$600,000. The Offering is expected to have approximately 20% participation from the Company's board of directors and management. The net proceeds will be used for resource modelling, drill program design, exploration data compilation, and general working capital purposes.
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Signature Resources Ltd. announces voting results at annual general and special meeting. Election of Directors and appointment of auditors approved. Rebecca Hudson appointed as Chief Financial Officer.
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FAQ

What is SIGNATURE RES LTD CDA focused on?

SIGNATURE RES LTD CDA is focused on the exploration and development of the Lingman Lake gold property in Ontario.

What recent achievements has the company made?

The company recently completed updating its geologic model, identifying new high-grade mineralization zones at the Lingman Lake Project.

What is the purpose of the private placement offering?

The private placement offering aims to fund the company's 2024 drilling program and general working capital purposes.

What are the key features of the Lingman Lake Project?

The project consists of a significant number of staked claims, patented claims, and includes the historically significant Lingman Lake Gold Mine.

What are Signature's plans for resource expansion?

Signature plans to expand its resources and publish an NI 43-101 report in 2025 based on the 2024 drilling program.

Signature Resources Ltd.

OTC:SGGTF

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SGGTF Stock Data

6.69M
43.59M
27.38%
Gold Ore Mining
Mining, Quarrying, and Oil and Gas Extraction
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United States of America
Toronto