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Gold mining

Golden Spike Resources Corp. Announces 2024 Exploration Program on Gregory River Copper-Gold Property

Strategic Insights

— 1 min read

The company will commence its 2024 exploration program on the Gregory River copper-gold property in mid-July, with the primary focus on the Steep Brook VMS-target and the Vein Zone. The program will involve induced polarization/resistivity surveys, prospecting, geological mapping, and sampling. The company aims to complete the surveys and data interpretation by early fall and potentially execute subsequent drill programs.

Key Takeaways:

  • The 2024 exploration program on the Gregory River copper-gold property will begin in mid-July, with a focus on the Steep Brook VMS-target and the Vein Zone.
  • The program will include IP/Resistivity surveys, prospecting, geological mapping, and sampling.
  • The company aims to complete the surveys and data interpretation by early fall.
  • The Steep Brook VMS-target and the Vein Zone are fully permitted, allowing the company to complete the upcoming program and potentially execute drill programs this fall.
  • The program will also take place over the Lode 9 target, where an IP survey was completed in April 2023.
  • Drilling will follow in a potential second phase of exploration this fall.
  • Golden Spike is committed to sustainable and environmentally conscious exploration practices.
  • The company has granted an aggregate of 1,550,000 stock options to directors, officers, and consultants, exercisable at a price of $0.20 per common share for a period of 5 years.

Statistics:

  • 5,050 hectares: the area of the Gregory River Property in Newfoundland.
  • 11 kilometers: the length of the Gregory River VMS-belt, a north-northeast trending corridor of very prospective ground.
  • 100%: Golden Spike's interest in the Gregory River Property.
  • 100%: the property is 100-per-cent-owned by Golden Spike.
  • 1,550,000 stock options: granted to directors, officers, and consultants of the company.
  • $0.20: the price per common share for the 5-year exercisable stock options.
  • April 2023: the time when an IP survey was completed for the Lode 9 target.

Sources:

  • Newsfile Corp. - July 17, 2024
  • Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) " Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release."

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