March 1, 2023
GoldMining Inc. (TSX: GOLD)(NYSE-American: GLDG) — currently trading around C$1.40 per share — has announced the launch of its U.S. GoldMining Inc. IPO with the intent to list the new entity’s shares on the NYSE-American exchange under the symbol USGO.
U.S. GoldMining Inc. will focus on advancing the Whistler Gold-Silver-Copper project in mining-friendly Alaska. The new subsidiary will have a dedicated team and an experienced board of directors to advance the project — which will become the flagship asset of the new entity.
The massive 170 sq km Whistler project is situated along a prolific geological trend northwest of Anchorage.
The project, which has seen approximately 70,000 meters of historical drilling, has the potential for high-grade epithermal mineralization similar to other porphyry deposits in the area.
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Already, the project boasts Indicated mineral resources of 1.94 million ounces of gold, 8.33 million ounces of silver, and 422.0 million pounds of copper (118.2 million tonnes grading 0.51 g/t gold, 2.19 g/t silver, and 0.16% copper).
The project contains additional Inferred mineral resources of 4.67 million ounces of gold, 16.06 million ounces of silver, and 711.4 million pounds of copper (317.0 million tonnes grading 0.46 g/t gold, 1.58 g/t silver, and 0.10% copper). Drilling is slated to commence this summer.
GoldMining Inc. itself is advancing an impressive resource inventory of ~32 million gold-equivalent ounces across the Americas — the vast majority of which were acquired when gold was trading below US$1,350 per ounce. Gold is currently trading north of US$1,800 an ounce.
The company recently tripled the Inferred Mineral Resource Estimate (MRE) at its 100%-owned La Mina gold-silver-copper project located in Antioquia, Colombia, to 1.45 million ounces of gold equivalent (AuEq).
The newly-updated MRE includes a maiden resource estimate for the La Garrucha deposit area — a new discovery zone from 2022 drilling — effectively adding approximately 1.0M/oz AuEq in the Inferred category and 0.2M/oz AuEq in the Indicated category.
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In total, the La Mina MRE now stands at 1.15M/oz AuEq Indicated and 1.45M/oz AuEq Inferred. Next steps include updating the La Mina Preliminary Economic Assessment (PEA), which is slated for completion by around mid-year.
Our own Gerardo Del Real of Junior Resource Monthly caught up with GoldMining Inc. CEO Alastair Still to go over the U.S. GoldMining Inc. IPO, plus a look ahead to what’s next at multiple exploration projects in what’s shaping up to be a very exciting 2023.
As always, we’ll keep you posted as new developments arise… and be sure to contact Bruce Nicholson at the company’s IR department at 604-630-1000x312 or via email at firstname.lastname@example.org for additional updates on the company’s suite of early-stage exploration projects.
Editor, Resource Stock Digest