Gold Lion Resources (CSE: GL) this morning released an end of year overview and corporate update to shareholders, highlighting a number of developments that the company has made over the course of 2020. Within, the company broke down highlights into the categories of a corporate update and an operational overview.
In regards to the corporate portion of the update, a number of management changes have been made over the course of the year, including the appointment of Oliver Friesen as CEO, and Hannah Jin and Douglas Meirelles as directors. The company also acquired a number of Idaho-based properties from that of EMX Royalty Corp, along with that of Ohadi Geoex.
The company also managed to secure listings on both the OTC, under symbol “GLIOF,” as well as on the Frankurt Exchange under symbol “2BC.” In terms of financing for the new properties, a $1.0 million non-brokered financing was conducted in May, followed by a $3.0 million marketed offering led by Eight Capital in November.
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Operationally, much progress was made as well which saw the company conduct exploration at all seven of its Idaho gold projects. Phase one and two of geochemical sampling programs as Robber Gulch’s Carlin-type gold property were completed, while several gold-in-soil anomalies were delineated. The company also saw over 700m of trenching completed via four trenches at the property, with results expected to be released sometime this month, with drilling to soon follow.
Sampling was also conducted at the South Orogrande and Dixie Area gold properties, which also included geochemical and geophysics. Permits are currently being waited upon for drilling to commence at the South Orogrande and the nearby Erickson Ridge property as well.
“The Company is very pleased to recap the operational and corporate advancements made in 2020. Despite the COVID-19 pandemic being prevalent for the majority of the year, Gold Lion was able to forge ahead and complete several field programs on all of its Idaho gold properties, further advancing them towards a drill-ready stage. We look forward to receiving the results of the trenching recently completed on our Robber Gulch Property, as well as the commencement of the Company’s first ever drill program later this month. 2020 has been an exciting year for Gold Lion thus far, and the Company is eager to continue advancing its portfolio of gold and silver focused assets in Idaho.”
Oliver Friesen, CEO of Gold Lion Resources
Gold Lion Resources last traded at $0.30 on the CSE.
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