News today that GSR will spin out its Luckystrike property. Here are some of the highlights:· Goldstrike's six 100% owned properties with no underlying royalties or property payments in the White Gold District, Yukon to be spun-out as a standalone public company, Luckystrike Resources Ltd.
Transaction intended to maximize value, allowing the White Gold District properties to be advanced on a standalone basis, while giving shareholders the optionality of participating in both companies.
On completion, Luckystrike will have a strong balance sheet with a $2.5 million investment from Goldstrike as well as potential additional third-party private placement financing of up to $2.5 million.
· Goldstrike shareholders to receive Luckystrike shares on a 1 for 7 basis. On a pro forma basis, Goldstrike shareholders are expected to own approximately 76% and Goldstrike is expected to own approximately 24% of the outstanding Luckystrike shares.
There has been so much interest in the story of Juggernaut. This is the beginning for this stock. They oversubscribed their financing, and announced their inaugural drill program and the market has responded with nearly 1,000,000 shares trading.
Walking the booths at the Mining Investment Conference in Vancouver today a lot of questions were being asked of this company with its stock price increasing over 30% in two days. This is going to be an exciting year for this company.
The addition of 1,115 hectares to the portolfio is welcomed. The property is located 62 km from the world class Buenavista copper mine to the south and 42 km to the north-west of La Caridad mine (both operated by Southern Copper Corporation, a region known for world-class porphyry copper deposits, and many high quality exploration copper-moly prospects.
The other consideration is that this property is between two mineral concessions within the Llano del Nogal porphyry copper moly property, controlled by Evrim Resources Corp.
Christian Grijalva, San Marco’s Vice President stated, “We are fortunate to have been awarded a mineral concession covering part of what we believe is a district scale, highly prospective mineral endowed region. Preparations are being made to initiate an exploration program to evaluate the potential of Suanse.”
The two year option from Rush Valley Exploration allows Torq to purchase Rush Valley for$2.4 million if the mineral rights are kept in 'good standing and Torq agrees to pay $500,000 in recent and planned exploration.
he Project consists of approximately 43,000 hectares of mineral rights in western Utah and is located about 60 km southwest of Salt Lake City, five km west of the historic Mercur gold mine, and 20 km southwest from Bingham Canyon - one of the top producing copper and gold mines in the world
Results from the remaining 11 holes drilled at the Yellowknife City Gold project have been published on the Terrax website. Four of these holes (1,170 m) were drilled on the high-grade Crestaurum gold bearing structure to determine whether gold mineralization continued to depth. All four holes hit mineralized structure, with two holes containing visible gold. All holes intersected significant gold with selected intervals of:
Barrick Gold invests US$38 million acquiring 19.9% interest of Midas at C$1.06 per share!
Midas will use the proceeds from this position for its Stibnite Gold Project in Idaho through to complete a feasibility study and permitting for redevelopment and restoration of the mine.
The flow through funds will be used in the 2018 drill program in the NW of BC near the town of Stewart. This region in Canada has garnered a great deal of attention from exploration companies and major producers alike. This investment coupled with many other serious players in this region is creating a buzz that a major discovery is possible.
Chairman and CEO Rudi Fronk noted that: "This year's exploration program at KSM will follow up on the tremendous success we achieved last year at KSM's Iron Cap deposit where inferred gold resources increased by 302% to 20.0 million ounces and inferred copper resources increased by 379% to 8.6 billion pounds. As in previous years, we are confident that this year's program should add sufficient resource ounces of gold to more than offset the share issuances from this financing. Increasing gold ownership per share remains an important objective for Seabridge."
Skeena’s CEO, Walter Coles Jr. commented, “Skeena is focusing on the Snip and Eskay Creek projects. Therefore, we’re pleased to vend Porter Idaho to StrikePoint, a company which wants to advance the project. The potential for connecting high-grade silver mineralization between the two sides of Mount Rainey deserves to be drill tested. We will look forward to results from StrikePoint's anticipated summer drill program.”
Summary of terms:
Today, Brixton was pleased to announce some results from the Hudson Bay Project located near the Cobalt Camp in Ontario.
Chairman and CEO, Gary R. Thompson stated, “These results conclude our phase one drilling program at the Hudson Bay mine area which clearly demonstrates the potential for high grade cobalt and silver with significant base metals as noted in hole 23 where we encountered 1.38% cobalt. A total of 24 holes for 3150 m were drilled at the Hudson Bay site. One of the HB veins has been drilled for 150 m in strike so far. The Company has moved the drill rig to its Langis silver-cobalt project for drilling which is located about 22 km from the Hudson Bay site.”
The program will include up to 10,000 meters of diamond drilling focused on multiple high quality targets identified in 2017 utilizing Newmont’s proprietary technologies. I t is the largest drill program for Goldstrike, to date and will take place on 9 target zones 70km wide.