crescat capital

Gambier Gold Corp. Announces Strategic Investment by Crescat Capital

Gambier Gold Corp. (TSX-V:GGAU) (the "Company") is pleased to announce that it intends to complete a non-brokered private placement financing. Crescat Capital LLC ("Crescat") has agreed to make a strategic investment with the Company representing a 9.9 % ownership of the Company post-funding of the currently active non-brokered flow through and non-flow through financings. Crescat will have an option to participate in future financings to maintain their 9.9 % interest in the Company for a period of 3 years from the date of closing

"Kirkland Lake Gold paid C$5 billion for the 15 million ounce deposit next door to Gambier's claims. There is no question this belt has gold. We are attracted by the structure in the geophysics on Gambier's property that continues from Detour Lake. We love that this camp has little exploration to date due to the glacial till. The opportunity to go fishing for a whale by funding a cutting-edge sonic drill program here is exciting", stated Kevin Smith, Crescat's founder and Chief Investment Officer.

The non-brokered private placement financing will consist of up to 5,333,334 units (the "Units") of the Company at a price of $0.15, for gross proceeds of up to $800,000.10. Each Unit will consist of one common share and one share purchase warrant (the "Warrant"). Each Warrant will entitle the holder to purchase one additional common share, up to a total of 5,333,334 at an exercise price of $0.23 for a period of two (2) years from the date of closing. The net proceeds of the financing will be used for exploration work on the Detour West project in northeastern Ontario, as well as for exploration on its other mineral exploration properties and for general working capital.

"We are extremely pleased to welcome Crescat Capital as an early-stage, strategic shareholder in Gambier. Their investment represents a strong endorsement of the potential for discovery at Detour West and will accelerate our ability to conduct an aggressive exploration program on the ground starting this spring. Our near future exploration efforts will mark the first time that modern exploration consisting of geophysics, deep till sampling by sonic drilling and diamond drilling have taken place on the majority of the mineral tenure. We look forward to starting our first planned exploration program at Detour West and reporting the results", remarked Michael Schuss, President & CEO of Gamier Gold.

Shares issued pursuant to the Financing will be subject to a four-month hold period according to applicable securities laws of Canada. Finders' fees may be payable on the private placement, subject to the policies of the TSX Venture Exchange.

About Crescat Capital LLC

Crescat is a global macro asset management firm headquartered in Denver, Colorado. Crescat's mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models. Crescat's goal is industry leading absolute and risk-adjusted returns over complete business cycles with low correlation to common benchmarks. Crescat's investment process involves a mix of asset classes and strategies to assist with each client's unique needs and objectives and includes Global Macro, Long/Short, Large Cap and Precious Metals funds.

Crescat is advised by its technical consultant Dr. Quinton Hennigh on investments in gold and silver resource companies. Dr. Hennigh became an economic geologist after obtaining his PhD in Geology/Geochemistry from the Colorado School of Mines. He has more than 30 years of exploration experience with major gold mining firms that include Homestake Mining, Newcrest Mining and Newmont Mining. Recently, Dr. Hennigh founded Novo Resources Corp (TSX-V: NVO) and currently serves as Chairman. Among his notable project involvements are First Mining Gold's Springpole gold deposit in Ontario, Kirkland Lake Gold's acquisition of the Fosterville gold mine in Australia, the Rattlesnake Hills gold deposit in Wyoming, and Lion One's Tuvatu gold project on Fiji, among many others.

About Gambier Gold Corp.

Gambier Gold Corp. is an experienced greenfield precious metals explorer and project generator. Based in Vancouver, British Columbia, Gambier has secured major under-explored land positions along trend of large known deposits in three world-class gold producing districts in Ontario and Quebec. The Detour West project is the company's main focus and sits within the Detour-Fenelon gold trend, along strike within 20 km of Kirkland Lake Gold's Detour Lake mine.

ON BEHALF OF THE BOARD

Michael E. Schuss
President & CEO

For further information, please contact:

Gambier Gold Corp.
Phone: (604) 241-2254
E-mail: info@gambier.gold
Website: www.gambier.gold

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Gambier Gold Corp.



View source version on accesswire.com:
https://www.accesswire.com/634947/Gambier-Gold-Corp-TSX-V-GGAU-Announces-Strategic-Investment-by-Crescat-Capital

News Provided by ACCESSWIRE via QuoteMedia

The Conversation (0)
M&A graphic.

Orla to Buy Musselwhite Gold Mine from Newmont for US$850 Million

Orla Mining (TSX:OLA,NYSEAMERICAN:ORLA) has entered into a definitive deal to buy the Musselwhite gold mine from Newmont (TSX:NGT,NYSE:NEM), positioning the company to more than double its annual gold production.

The purchase, valued at US$810 million, with two additional contingent payments of US$20 million each, will set Orla up as a diversified North American gold producer as it marks the company's entry into Canada.

The first contingent payment will be made if the spot gold price exceeds US$2,900 per ounce in the first year after the transaction closes, and the second will be made if the price exceeds US$3,000 in the second year after closure.

Keep reading...Show less
Gold map of the world over black background.

10 Largest Producers of Gold by Country (Updated 2024)

The top countries for gold production are poised to benefit from the current gold bull market, as are the gold mining operations in those countries.

After climbing throughout the year, the price of gold hit a high of US$2,782 per ounce on October 30, up more than US$700 since the start of 2024. While it pulled back to around US$2,600 in the weeks following the US election on November 5, prices are still elevated.

Additionally, falling interest rates, geopolitical tensions in Ukraine and the Middle East and continued central bank gold purchases are providing ongoing support for the price of gold.

Keep reading...Show less
Gold bars in front of Canadian flag.

Indigenous-owned Mining Royalty Firm Targeting Canadian Resource Opportunities

Nations Royalty (TSXV:NRC,OTCQB:NRYCF), the first mining royalty company with majority Indigenous ownership, is attracting attention since listing on the TSX Venture Exchange this past June.

With 77 percent ownership by the Nisga’a Nation, the firm is also backed by Canadian businessman Frank Giustra.

As explained on Nations Royalty's website, the idea is to use mining royalties as a means to achieve financial independence for Indigenous communities, while also providing opportunities for investors.

Keep reading...Show less

Kestrel Option Partner Centerra Gold Continues Drilling at QCM Property

Kestrel Gold Inc. ("Kestrel" or the "Corporation")(TSXV:KGC) is pleased to provide an update on work completed by Centerra Gold Inc. ("Centerra")(TSX:CG) on the QCM gold property ("QCM") located in the Manson-Germanson area of central British Columbia. Centerra is currently in the process of earning a 75% interest in QCM by making cash payments totaling $900,000 and completing $6,500,000 in exploration work, which must include a minimum of 13,500 metres of drilling, by May 7th, 2029

Centerra's reverse circulation ("RC") drill program is well underway. A total of 6 holes and 813.97 metres have been completed to date with drilling ongoing. Completed holes are located in the 14 Vein area where RC drilling by Kestrel in 2022 returned up to 2.33 g/t Au over 44.19 metres. Results for the Centerra drill program will be released once analytical results have been received and interpreted. Centerra has also advised that they have submitted to the Ministry of Energy, Mines and Low Carbon Innovation of British Columbia an application for a 5-year Multi-Year-Area-Based (MYAB) permit, which upon receipt will allow for property wide exploration and drilling.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

White Gold Corp. Announces Significant Increase in Mineral Resources to 1,203,000 oz Gold Indicated and 1,116,600 oz Gold Inferred at the White Gold Project, Yukon, Canada

White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W ) (the "Company") is pleased to announce an updated Mineral Resource Estimate ("MRE") for its flagship White Gold project located approximately 95 km south of Dawson City in west-central Yukon, Canada. The updated mineral resource includes a significant increase in total gold ounces, including a 18.5% increase in inferred resources and an 4.3% increase in indicated resources. The White Gold project now comprises 1,203,000 ounces of gold in the Indicated Resource category (17.7 million tonnes averaging 2.12 gt Au) and 1,116,600 ounces of gold in the Inferred Resource category (24.5 million tonnes averaging 1.42 gt Au) at US$2,000oz gold. The gold resources at the White Gold Project are near surface, almost entirely captured within an open pit, and remain open for expansion in multiple directions with additional opportunities to increase total resources via targets within close proximity. Additional increases to the size of the resource may also be possible through an ongoing analysis of the resource block model and by capturing additional ounces hosted within the Target for Further Exploration area which hosts an additional estimated 10 12 million tonnes grading between 1 2 gt Au. These results form part of the Company's work program supported by strategic partners including Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Red Mountain Mining

Stunning High Gold and Copper Soil Results Opens Up Potential New Gold and Copper Region

Red Mountain Mining Limited (“RMX” or the “Company”) is pleased to advise that it has received geochemical results for 284 soil samples collected during September from the Company’s 100%-owned Flicka Lake prospect in Ontario, Canada. The soil sampling was undertaken in parallel with a rock grab sampling program (refer ASX announcement: 6 November 2024). Samples were taken from around 400 locations within the Flicka Lake claims and 91 rock grab samples and 284 soil samples were collected and submitted for multielement geochemical analysis.

Keep reading...Show less

Latest Press Releases

Related News

×