Sassy Resources (CSE:SASY, OTCQB:SSYRF) Corporation has delivered an update as it mobilizes crews to its 100%-owned Foremore Project in Northwest British Columbia to start drilling at the Westmore Gold Discovery.
Over the coming weeks, the firm will change its name to Sassy Gold Corp. to better reflect its renewed focus on the flagship Foremore high-grade gold project. Sassy’s trading symbols on the CSE, OTCQB and Frankfurt stock exchanges will remain unchanged and there will be no changes to the company’s capital structure.
“The rebranding of Sassy Resources to Sassy Gold is a natural step given the growing significance of Foremore and our direct exploration opportunity within one of the world’s premier gold camps,” Mark Scott, Sassy CEO said in a statement. “Foremore provides exciting and immediate upside potential for shareholders while our long-term value proposition has never been better with our significant equity stake in the Newfoundland Gold Rush (Gander Gold and Galloper Gold) and our investment in MAX Power Mining.”
READ: Sassy Resources completes purchase of mining claims in Newfoundland; sells them on to Galloper Gold
Sassy’s new website will be unveiled shortly in conjunction with the name change.
The company said it has arranged a hard dollar private placement of up to $3.2 million, driven by several new strategic investors in Canada and Europe. The financing comprises up to 16,410,256 shares at 19.5 cents each. The placement is expected to be fully subscribed and will close on or around July 8, 2022. Funds will be used for exploration at Foremore and general corporate purposes.
“We’re delighted at securing new investors to add to an already strong retail following as we enter an exciting new period in the young history of Sassy,” added CEO Scott. “We have carefully managed our share structure over the past two years, allowing us to take advantage of a special opportunity like we have now to ignite our business and market efforts at the right time in the gold cycle.”
Drilling at Foremore will start in the second half of July and will initially focus on the 4 Amigos Vein where four of the last five drill holes intersected visible gold, including 86.4 grams per tonne (g/t) Au and 41.6 g/t Ag over 0.7 metres within a core length of 1.4 m grading 43.2 g/t Au and 20.8 g/t Ag starting just 8.7 meters downhole in WM21-015.
Sassy is an exploration stage resource company currently engaged in the identification, acquisition and exploration of high-grade precious metal and base metal projects in North America. Its focus is the Foremore Project located in the Eskay Camp, Liard Mining Division, in the heart of Northwest British Columbia’s prolific Golden Triangle.
Contact the author at jon.hopkins@proactiveinvestors.com