Gold Springs Resource is focused on the exploration and expansion of the gold and silver resources at its Gold Springs project in Nevada and Utah, USA. The Company believes Gold Springs has the potential to host multimillon-ounce gold and silver resources. Gold Springs is located in the prolific Great Basin of Western USA, in one of the best mining jurisdictions in the world. On September 26, 2019, the Company closed the Escalones transaction with Wealth Minerals Ltd. and its wholly-owned subsidiary, Wealth Copper Ltd., pursuant to which Wealth Copper acquired 100% of TMIâs interest in the mineral exploitation and exploration concessions and related assets that comprise the Escalones copper-gold porphyry project in Chile.
Exploration Plan for 2020
The Company's vision is to identify a multimillion-ounce gold resource at its Gold Springs project. Aligned with the Company's vision, the Company's plan for 2020 is to continue to add to the existing gold resources at Gold Springs. The Company will start the plan in Q1 2020 with a ground geophysical survey (CSAMT) intended to fill gaps in the existing CSAMT survey of Gold Springs, followed by detailed structural mapping of certain target-areas, to prepare these areas for future drilling. In Q2, 2020, the Company plans to start its 2020 drill program. The drill program currently contemplates approximately 8,700 meters of drilling, by stepping out and testing the extensions of the existing South Jumbo and North Jumbo resources, with the view of adding more gold and silver ounces to these resources which are open in multiple directions. The plan includes environmental and archeological baseline studies, to ready drill targets that are next in the pipeline for future drilling, and to advance work required for an Environmental Impact Statement. The plan also includes metallurgical test work, and GRC will conclude 2020 with the publishing of a new resource estimate that would include the results of the 2017, 2019 and 2020 drill programs. The total cost of the current exploration plan for 2020 is estimated to be US$2.4 million.
Gold Springs Resource Inc. is a publicly traded company listed on the OTCQB under the ticker symbol GRCAF. This is not investment advice. Please view the disclaimer found on this website.