Fantastic news for shareholders. No need for capital raising now for a very long time.
That is only 2% of the ground they transferred to a large company that will easily get it to 150,000ounce resource, for GSN to pick up another $2mil cash later on. It would be very close to that now on the back of my envelope calculations.
The money here can now be used to do a larger drilling program on the other 98% of the ground we hold in the Duketon Belt.
They already stated in the recent past the following:
GSN is now in a phase of modelling and interpretation in preparation for further drilling programs. Futuredrilling at the Southern Star, Golden Boulder and Amy Clarke prospects will focus on resource definition.
Previously reported intercepts from the 2025 drilling program at Golden Boulder included:
5 m at 14.57 g/t Au from 41 m, including 1 m at 70.94 g/t Au in hole 25GBRC009
2 m at 12.56 g/t Au from 99 m, including 1 m at 18.21 g/t Au in hole 25GBRC007
8 m at 1.77 g/t Au from 27 m, including 3 m at 2.36 g/t Au in hole 25GBRC021
This money now, and future payments puts GSN in the box seat to really grow with more drilling in very prospective areas and find the next Ben Hur or Garden Well mine like Regis has next door.
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