Relevant Gold Corp. (CSE:RGC), a North American gold exploration company, is one of the latest new listings on the Canadian Securities Exchange. The company raised gross proceeds of approximately $5,703,000 from the placement of approximately 16,295,000 shares priced at $0.35. The currently planned 4,000 to 5,000 meter diamond drill program at Golden Buffalo Wyoming will focus on the target area that has shown bonanza grade gold at surface.
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Relevant Gold Corp. (CSE:RGC), a North American gold exploration company, is one of the latest new listings on the Canadian Securities Exchange trading under the symbol “RGC”.
The company raised gross proceeds of approximately $5,703,000 from the placement of approximately 16,295,000 shares priced at $0.35.
The shares are currently bid at $0.21 with no shares offered and have yet to trade.
In August 2021, the company signed an option to acquire a 100% undivided interest in the Golden Buffalo Property for US$15 million and 1.5 million shares, payable within 7 years.
Until the option is exercised, the company must pay an additional annual lease fee of US$300,000.
The property is located immediately southeast of the Wind River Mountain Range, approximately 60 kilometers southeast of Lander, Wyoming in Fremont County.
The total land area controlled by the company in the Golden Buffalo Project is about 3,725 hectares or 9,205 acres as of December 1, 2021.
Abundant, course visible gold nuggets are found at surface near the active GBM mine site.
Rob Bergman, President and CEO, stated: “Relevant Gold is strongly positioned as we head into the exploration season and we are excited about the opportunities before us. The capital we raised this spring gave us the runway we needed to secure a drilling contractor and advance our flagship asset, Golden Buffalo, to the point of commencing drilling in July. On behalf of the Board, I would like to thank our shareholders for their continued support as we make the transition from private to public company and begin drilling exploration of our first Wyoming asset.”
Brian Lentz, Chief Exploration Officer, added: “At Golden Buffalo we have coarse visible gold at surface, with rock-chip sample assays returning over 5 ounces per ton gold. While Wyoming has seen significant historical mining, it is relatively underexplored and has not seen modern exploration like we are conducting at Golden Buffalo. We’re very excited to be testing our Abitibi thesis at depth.”
He is referring to the theory that the gold mineralization of the Abitibi gold belts in the Superior Province, Canada occurred in Archean age rocks between 2.7 to 2.2 billion years ago which are similar to the Archean rocks and structural terrain found in Wyoming.
Relevant Gold management believes that modern-day Wyoming may have been connected to the Abitibi at the time of gold mineralization, and later rifted apart and rotated before settling in its current location.
Based on this theory, the company believes a direct comparison with the Superior Province provides a targeting model for discovering new, large-scale deposits in Wyoming.
Management believes its South Pass Gold Camp, which consists of 4 district-scale projects, fits all the size comparison criteria for an Abitibi-style deposit of multi-million-ounce potential.
The currently planned 4,000 to 5,000 meter diamond drill program at Golden Buffalo will focus on the target area that has shown bonanza grade gold at surface.
For more information, please visit the company’s website www.RelevantGoldCorp.com, contact Rob Bergman, President and CEO, at rob@BigRockExploration.com, or Kristopher Jensen, VP of Corporate Communications, at 763-760-4886 or by email at IR@RelevantGoldCorp.com.
