- Golden Share (GSH) completes drilling at Sandridge
- This graphite interval is interpreted to be the targeted EM conductor
- In September of last year, the first tranche, consisting of $200 thousand, has already been received
- Golden Share Resources Corporation is a mineral exploration company focusing on the province of Ontario, Canada
- Golden Share Resources Corporation (GSH) is in the grey and is trading at C$0.12 at 9:30 ET
Golden Share Resources (GSH) has completed a diamond drill program to test an airborne VTEM™ anomaly beneath Sandridge Lake, east of Thunder Bay, Ontario.
The core hole encountered a sequence of mafic metavolcanics and metasediments, including an approximately seven m core length of graphite starting at a downhole depth of 197 m.
This graphite interval is interpreted to be the targeted EM conductor.
Golden Share appreciates the exploration team’s efforts, Niigaani Drilling and Wiskair Helicopters, for the efficient and safe completion of the drill program during the ongoing COVID-19 Pandemic.
The last news we shared on Golden Share Resources was back in September 2020.
Golden Share will sell the project to Midex for a total consideration of C$1.5 million. Midex will pay the consideration in two tranches of cash, followed by two tranches of its common shares.
In September of last year, the first tranche, consisting of $200 thousand, has already been received. The second tranche of $300 thousand will be paid on or before December 1, 2020.
Tranche three will involve the issuance of two million Midex common shares, at 25 cents per share. These shares will be issued on the first anniversary of the letter of intent between Golden Share and Midex.
Golden Share Resources Corporation is a mineral exploration company focusing on the province of Ontario, Canada, a mineral-rich and politically stable jurisdiction.
Golden Share Resources Corporation (GSH) is in the grey and is trading at C$0.12 at 9:30 ET.