There’s a new gold mine in town, and it bears your attention; mainly because there is more information on this new gold IPO than just about any other in recent memory. Oh, and the numbers are beyond compelling.
Welcome Investors, to GOLDEN RAPTURE MINING (GLDR: CSE, the Company), a collection of premier Ontario mining properties in the Rainy River region that have had enough work done to unveil potential but left a significant amount of the gold with great g/t numbers and land size.
Golden Rapture is driven by CEO Richard Rivet, a highly experienced and successful mining executive. The team combines decades of direct mining and entrepreneurial expertise with a highly successful First Nations entrepreneur, Jason Wilson. Advisors include James Tworek, Element79 CEO (CSE: ELEM, FSE: 7YS).
Richard Rivet states; The Lake of the Woods gold rush began in 1894 with many discoveries and mine shafts being dug. It ended quickly when most prospectors left for the Klondike gold rush in 1897. Our Phillips Township property is truly a treasure chest of forgotten opportunities. It has an astonishing 17 mine shafts and an adit, with visible gold being a common occurrence. We have recently completed a property-wide sampling program, with results to be announced shortly. The gold rush continues. Please stay tuned for updates as we progress.
Institutional backing:
Golden Rapture has not drawn any funds from this equity investment facility.
On March 11, 2023, the Company signed an institutional funding of $5,000,000 (the “Equity Investment Facility”) with Crescita Capital LLC. Golden Rapture can draw down funds from the $5 million Equity Investment Facility from time to time during the three-year term at Golden Rapture’s discretion by providing a notice to Crescita Capital (“Drawdown Notice”).
In return for each Drawdown Notice funded by Crescita Capital, Golden Rapture will allot and issue fully paid shares to Crescita Capital (ostensibly a “Private Placement”).
Gold, Gold and more Gold.
Now would be a good time to mention that Gold has rallied past USD 2150 at this time. There will undoubtedly be an eventual rush for juniors that are in or near production.
Read on to analyze the Company’s exceptional properties. Then, we will examine the mines’ robustness using historical drilling and exploration records.
Philips Town Gold Property
For the first time, GLDR has packaged all these underexplored high-grade gold systems into a single property.
The company holds a 100% interest in the high-grade Phillips Township Gold Property, Rainy River District, NW Ontario. The land package totals 225 claim cells for approximately ten thousand acres located close to 4 mineral deposits.
These assets include the New Gold Rainy River Mine (+8 million Oz.), the Cameron Lake Deposit (1.8 million Oz.), the Agnico Eagle-Hammond Reef deposit (3.3 million Oz.), the Tartisan Nickel, Copper, and Cobalt Deposit, and many others. Mature local infrastructure, workforce, heavy-duty equipment, hospitals, major highway systems, and local services are in close proximity.
The property has exceptional potential with a total of seventeen (17) shafts and an adit with visible gold having been recorded both historically & recently.
Of significant importance is the fact that the majority of the gold-bearing systems also have parallel systems with reported historical gold results as high as 769.00 g/t Au.
The Phillips Township gold discovery began in 1894 and lasted until 1905 when several shafts and adits were dug. The property saw very limited exploration until three new gold discoveries were made in the 1970s, 1980, and 1999, namely the OGS, Terrell, and Kuluk gold showings, respectively. It was again revived in 2017 when a ten (10) shallow hole drill program intersected Gold in every hole, but the explorer ran out of funds and never followed up.
Golden Rapture will.
Hutchison/Maylac Gold Mine Property – Fulford Township
The Hutchison/Maylac Gold Mine was one of the richest mines in the area, with a grade of 17.83g/t/Au. It was mined underground on and off from 1937 to 1947. The property has only seen shallow drilling and was mined to a depth of around 400ft.
The Hutchison/Maylac Mine is located in Fulford Township, Geraldton, Ontario and is comprised of 60 claim cell units totalling approximately 2800 acres. It is located on the Northern border of town.
Many areas of interest will need follow-up, including the workings of the historic Hutchison/Maylac Gold Mine and many other gold showings covering the west area, indicating a gold trend for a strike length of about 2.5 kilometres.
Golden Rapture has identified results that will be followed up, which include:
- 11.6 oz/ton/gold across 1.3 feet, 1.84 oz/ton/gold across 2.25 ft
- vein number 1, located 100 ft due south of the shaft in surface pits, gave results of 0.87 oz/ton/gold across 2.67 ft plus
- vein number 4, located 130 north of the shaft, yielded results of 0.55 oz/ton/gold over 1.5 ft for a length of 90 ft.
- Vein number 5, located 270 ft north of the shaft, had a length of 120 ft and an average of 0.55 oz/ton/gold across 2.5 ft.
- Another drill hole located approximately 560 ft north of the shaft gave high-grade results of 13.52 oz/ton/gold over 1.1 ft, and 140 east of the shaft gave results of 24.16 oz/ton/gold over 1.9 ft.
We at Golden Rapture Mining believe that the story at this Hutchison/Maylac Mine project is ongoing. Work has yet to be planned, as the Nestor Falls Phillips Township Project is our number 1 priority.
Other promising areas in the region include results from a Mag & VLF survey post-mine close, which indicates a mineralized trend extending westward from the old mine workings. Of special interest (a great priority target) is an isolated Mag high flanked by a Mag low (Bullseye) at the east end of Dionne Lake.
Bottom Line
Given the uniqueness and exceptional quality of GLDR’s properties, there could be excellent investor support. Gold is rallying, and the prospect of further value rises in the shadow of interest rate cuts.
Previous work on the properties quickly removes the ubiquitous “drill on the property” or other tropes. These are serious businessmen and women with decades of mining and entrepreneurial experience.
As an IPO, there is the real possibility of acquiring shares at a good price. Pre-IPO shares were purchased at CDN0.15. There are 22.3 million shares issued and outstanding.
In the world of junior mining IPOs, there is a feeling that the stars must align to profit. Au contraire. The key is the right properties, management, and, in this case, a rallying gold price and available financing.
Four stars may well be enough.
Keep an eye on Golden Rapture (GLDR). I think you’ll be intrigued.
Sponsored Post on Behalf of Golden Rapture Mining
Marc has been involved in the Stock Market Media Industry for the last +5 years. After obtaining a college degree in engineering in France, he moved to Canada, where he created Money,eh?, a personal finance website.
