Golden Shield Resources (GSRI.C) has kicked off its new Reverse Circulation drill program on the Marudi North zone while the mapping and sampling work is still ongoing. Additionally, three trenches have been dug in the past few weeks and almost 270 samples were sent to the lab for analysis. While the majority of the samples still have to be assayed by the lab, the company has already published the initial results.
The drill program will consist of a series of shallow holes and at the end of September, the company had already completed 37 holes for a total of 1,895 meters (indicating an average depth of approximately 50 meters per hole).
As of the end of April (the most recently available financial report), the company had C$5M in cash and a positive working capital of C$5.5M on the balance sheet.
Disclosure: The author has a long position in Golden Shield Resources. Please read the disclaimer.
