Sassy Resources (CSE:SASY, OTCQB:SSYRF) Inc has noted that its spinout company Gander Gold Corporation commenced trading on the Canadian Stock Exchange (CSE) on Tuesday, March 8, 2022.
In a statement, Mark Scott, Gander Gold president and CEO, commented: "As gold rapidly approaches new all-time highs, there isn’t a better time to be hunting for new high-grade gold discoveries in such a favorable jurisdiction as Newfoundland. Gander Gold will provide shareholders with plenty of exciting action in the months ahead as we build on initial results from last year’s extensive programs. Given our large inventory of prospective ground, we have a lot of possibilities and options to build shareholder value.”
Gander Gold is a pure Newfoundland gold exploration play with a dominant land position on 'The Rock'. Its claims within eight separate projects were all carefully assembled well ahead of the staking rush in Newfoundland that began in the spring of 2021 following spectacular high-grade drill results from New Found Gold’s Keats Zone, 15 kilometres west of Gander Gold’s Gander North Project, which has returned impressive early exploration results.
Anchored by Gander North and seven other projects throughout the Central Newfoundland Gold Belt, and a strong group of shareholders led by Eric Sprott and Sassy Resources (CSE:SASY, OTCQB:SSYRF) (combined 63% ownership), Gander Gold expects to be a leading force in the developing Newfoundland Gold Rush.
READ: Sassy Resources says Gander Gold spinout approved for public listing
During its inaugural 2021 exploration season in Newfoundland, Gander Gold undertook an aggressive, large-scale early-stage exploration program, which included the collection of 21,133 soil and till samples across all eight project areas, completion of 1metre resolution LiDAR surveys across all project areas, completion of 19,030 line kilometers of fixed-wing Mag/VLF surveys, the collection of 330 “GT Probe” samples at Gander North, and a six-week prospecting campaign.
Final results will be released over the coming weeks as crews prepare for a busy 2022 exploration season, including diamond drilling.
Gander Gold has 73,193,721 common shares issued and outstanding as of March 11, 2022, of which 21,830,368 are free trading. Sassy Resources possesses a commanding share position in Gander Gold, with 35,328,723 Gander shares. In addition, a total of 8,833,333 Gander shares will be distributed by Sassy Resources to its shareholders (as of the February 1, 2022 date of record) in two tranches, first on March 8, 2022, and secondly, on or about September 8, 2022.
Eric Sprott beneficially owns 10,666,667 Gander shares. Together, Sassy Resources and Eric Sprott beneficially own approximately 63% of the issued and outstanding common shares in Gander Gold. There are no outstanding Gander Gold warrants.
Gander Gold is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in the Central Newfoundland Gold Belt. Its focus is on its eight projects in the Canadian province of Newfoundland & Labrador, namely the Gander North, Mt. Peyton, Cape Ray II, BLT, Carmanville, Gander South, Little River and Hermitage projects, which comprise 9,032 claims or approximately 2,257 square kilometres, making Gander Gold Corporation one of the largest claim holders in Newfoundland.
Contact the author at jon.hopkins@proactiveinvestors.com