View of the Saddle prospect at the Tatogga project Credit: GT Gold
BRITISH COLUMBIA – GT Gold has announced an $8.3 million private placement by Newmont Goldcorp. Following closing, Newmont Goldcorp is expected to hold 14.9% of GT shares outstanding, an increase over the 9.9% held previously.
Currently, there are two main discoveries at GT Gold’s 46,827 ha Tatogga property in British Columbia within the Golden Triangle district. At Saddle South, there is a near surface bulk tonnage epithermal gold silver vein system with underground potential with an additional large scale mineralized gold copper silver porphyry intrusion identified at Saddle North.
According to the company, work is currently underway on a geological model for Saddle North, expected by the end of the first quarter of 2020. An initial resource estimate is expected to follow by the end of the second quarter with a subsequent preliminary economic assessment scheduled for completion by late 2020.
GT expects to have sufficient funds on hand to fund all the expenditures up to and including the PEA with a buffer following financing completion.
For more information, visit www.GTGoldCorp.ca.