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Signature Resources Ltd. (OTCQB: SGGTF) generates a steady flow of news tied to its work on the Lingman Lake Gold Project in Northwestern Ontario. Company announcements emphasize its status as a Canadian-based advanced stage exploration company focused on expanding the 100% owned Lingman Lake gold deposit and advancing the associated historic Lingman Lake Gold Mine underground workings.
News releases frequently cover exploration results and technical milestones. These include updates on diamond drilling programs targeting extensions of known mineralization at depth and laterally, summaries of surface mapping and channel sampling campaigns, and detailed reporting on the initial NI 43‑101 mineral resource estimate for the Lingman Lake Gold Deposit. Technical updates often reference specific mineralized zones such as the North, Central, South, West and 11650N zones, as well as geophysical work using induced polarization and magnetic surveys.
Investors following SGGTF news will also see financing and corporate updates. The company regularly reports on non‑brokered private placements of flow‑through shares, charity flow‑through units and non‑flow‑through units, along with shares‑for‑debt transactions. These releases outline how proceeds are allocated between exploration activities on the Lingman Lake Gold Project, completion of resource modeling, drilling expenses, camp maintenance and general working capital.
Additional news items include governance and corporate actions, such as results of annual general and special meetings, stock option grants under the company’s incentive plan, and participation in investor conferences. Together, these updates provide context on how Signature is managing its exploration programs, funding strategy and corporate structure as it advances the Lingman Lake gold asset. For users tracking SGGTF, the news stream offers insight into both technical progress on the deposit and the company’s capital markets activity.
Signature Resources (TSXV: SGU) (OTCQB: SGGTF) has announced results from its May 2024 field program at the Lingman Lake property. The program included 101 channel samples and 28 grab samples, with gold grades ranging from 0.011g/t to 6.784g/t. Notable results include a 1.95g/t gold grade over nine meters in the North Zone and 1.64g/t over 6 meters in the South Zone B. The company also provided an update on its 2024 drilling program, with two holes completed totaling 810 meters. Signature Resources aims to deliver an initial NI 43-101 report next year and continues to explore the potential of its 32km wide greenstone belt.
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.
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.
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.
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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