MC - $9m
SP - 6.3c
Shares - 148m
Options - 27m
Cash - $1.2m
Osisko Mining Corporation 9.9%
ABN AMRO Clearing Sydney Nominees 5.3%
Peter Nicholson 3.9%
Rob Reynolds, chairman
Mining/exploration finance and management
Alacer Gold, Exeter, Delta Gold
Bernard Rowe, managing director
20 years exploration and corporate experience
Ashton, Drake, Tri Origin
Peter Nicholson, technical director
30 years exploration and management experience
Geopeko, Eupene, Savage
Pat Elliott, director
Morgan Grenfell, Crossland Uranium, MIL Resources, Argonaut Resources
Agreement with Osisko
Osisko may earn an initial 45% interest in five gold projects in Nevada by spending a total of US$8million over 4 years.
Global will manage and operate during this phase.
Upon completion of the earn-in, Osisko must select which projects it wishes to continue funding.
Osisko to sole-fund projects it selects through to completion of bankable feasibility study and in doing so will increase to 70%.
Projects not selected by Osisko will be returned to Global and Osisko will have no ownership interest nor any other rights.
Global and Osisko will assess other gold opportunities in Nevada.
$2M budget for 2012 (minimum commitment) including $1M for drilling on four projects.
Lone Mountain, Nevada
38 km2 property covering highly prospective window
Located between Carlin and Jerritt Canyon gold deposits
Excellent potential for large Carlin-style system
New detailed gravity survey completed
Drill ready targets
GSC has option to acquire 100% interest from owner
Osisko funding exploration
Under-explored gold zone
Walker Lane in southern Nevada
Drill intercepts over 2.2km of strike
Multiple zones of shallow, oxidised gold
Part of a much larger mineralised zone
Gold mineralisation identified over 10km long zone
GSC earning 70% by spending US$3M over 4 years and cash payments of $100K.
Over $600,000 spent to date
Sara Sara, Peru
Large porphyry lithocap
>15 sq km of advanced argillic alteration
Cu-Mo, Ag-Re mineralisation
70 sq km, mostly covered
2012 work program
$2.5M exploration budget for 2012, fully funded
Drilling a minimum of 4 projects
$2M Nevada budget funded by Osisko
May 2012 drilling Sara Sara high-grade silver
June/July 2012 drilling Lone Mt and Excelsior gold
Aug/Sept - drilling Bartlett gold/copper