Writer: Kevin Dwyer CEO,Head Trader
June 24, 2024

Stock Chart Green River Gold

 

A GOLDEN LEGACY: THE EVOLUTION OF MINING IN QUESNEL, BRITISH COLUMBIA

ENTER GREEN RIVER GOLD

DAWN OF AN ERA: THE GOLD RUSH ORIGINS

Nestled within the verdant landscape of British Columbia, the mining industry near Quesnel heralds its inception to the mid-19th century gold rush. The historic Quesnel Forks, established in 1859, stood as the prime gateway to the bountiful Cariboo gold fields. It became an essential supply hub for the burgeoning population of miners, encompassing a crucial contingent of Chinese miners who ventured across oceans in search of fortune.

ENDURING MINERAL RICHES: MODERN MINING ENDURANCE

Over time, the vicinity of Quesnel has maintained its status as a pivotal mining enclave. A testament to this enduring legacy is the recent sanctioning of the Cariboo Gold mine, which is projected to generate approximately 25 million tonnes of ore across a remarkable 16-year lifespan, demonstrating a significant boon. Such advances in the industry are not singular; companies like Green River Gold are cementing their presence, concentrating operations in Quesnel's northerly expanses.

 

INTRODUCTION TO GREEN RIVER GOLD CORP.

Very Important Updates

THE LATEST NEWS - HERE!

Green River Gold Corp. announced it will start placer gold mining operations on its fully permitted Wabi claims on the Swift River in May 2024. This decision comes as gold prices reach record highs, making it a strategic move to generate cash flow. The company is leveraging its relationship with Gold Rush Supplies Inc., specializing in placer mining equipment and supplies. This partnership provides Green River with the necessary infrastructure and experienced personnel to commence mining activities efficiently.

Green River's primary focus remains exploring its critical minerals and precious metals projects, notably the Quesnel Nickel Project. A separate team will manage the placer gold mining operation to ensure it does not interfere with ongoing exploration efforts. This initiative is expected to help the company achieve self-sustaining cash flow, allowing capital raised in the markets to be used directly for exploration and acquisitions.​ 

Green River Gold Corp. announced the final closing of its non-brokered private placement of units, raising CAD$197,000 by issuing 3,940,000 units at $0.05 per unit. Each unit includes one common share and one common share purchase warrant, each allowing the purchase of an additional share at $0.06 over the next five years. If the company's share price reaches or exceeds $0.15 for ten consecutive trading days, the company can accelerate the warrant expiry to 30 days from the announcement date. The proceeds, strategically allocated, will be used to explore the company's mining properties, bolster working capital, and serve general corporate purposes. No broker commissions were paid, but finder's fees of $13,360 were incurred, representing 8% of the proceeds from the offering.

Green River Gold Corp. is also launching a new non-brokered private placement of up to 10,000,000 flow-through units at $0.055 per unit, aiming to raise up to CAD$550,000. Each unit consists of one flow-through common share and one-half of a common share purchase warrant, exercisable at $0.08 per share for four years. The funds from this offering will support continued exploration of the Quesnel Nickel Project, and individual investors will benefit from tax credits under Canadian tax laws. For more detailed information, you can review their press release on Newsfile Corp. or Green River Gold Corp.'s profile on SEDAR.

 

UNCOVERING THE POTENTIAL: GREEN RIVER GOLD CORP'S QUEST FOR NICKEL AND BEYOND

Green River Gold is actively charting a path toward realizing the substantial mineral wealth beneath the Canadian soil in the heart of the storied Cariboo Mining District of British Columbia. The company's portfolio includes the promising Quesnel Nickel Project, which adds lustre and anticipation to this region's rich history of mining success. It is also worth noting that GREEN RIVER GOLD has a sister business, the only supply shop in the vast mining area, GOLD RUSH SUPPLIES INC. 

Gold Rush Supplies Inc. The only mining equipment & supplies store is in Quesnel, British Columbia, Canada; it carries items from gold pans to high bankers to large-scale trommels and sells everything you need, no matter the size of your operation!

Quesnel Nickel Project: A Cornerstone Asset

Within Green River Gold's expansive 20,438.19-hectare land package lies the Quesnel Nickel Project, which has demonstrated consistent nickel mineralization across over 50 completed drill holes. Accessed expediently via well-established roads, the project is a mere 45-minute journey from the company's Operations building and within comfortable proximity to the city of Quesnel.

EXEMPLARY MAGNESIUM POTENTIAL

Although the focus to date has been on nickel, the property boasts noteworthy potential for magnesium.

Magnesium, nickel, chromium, and cobalt have been found on the surface of the bedrock in all holes drilled to date. The magnesium percentage has consistently been more than 20% in all holes. Depending on recovery rates and magnesium prices around USD 3500 per tonne, the magnesium could add significant value to the property. Recent magnesium recovery rates at a neighbouring property similar in composition bode well for Green River Gold.

British Columbia's Mining Landscape

Renowned as a top-ranked mining jurisdiction, British Columbia hosts the world's largest concentration of exploration companies and mining professionals; this is intrinsically linked to the province's mining-friendly regulations, stable political climate, and a profound respect for indigenous communities. Such attributes foster an environment where projects like Green River Gold can thrive.

Technological Advancements in Exploration

The footprint of the Quesnel Nickel Project is marked by a significant magnetic anomaly, identified over a 14-kilometre stretch and covering approximately 6.6 square kilometres. Recent drone-based UAV magnetic surveys have identified this anomaly, dubbed the Deep Purple Target, presenting a compelling area for further exploration and indicating vast untapped potential.

Strategic Growth and Milestones

Green River Gold has outlined clear goals for advancing the Quesnel Nickel Project. These milestones include executing the long-hole drilling program and completing 43-101 compliant resource estimates. These efforts underline Green River Gold's commitment to unlocking the full potential of its nickel project.

Green River Gold has immediate access to the drilling equipment Gold Rush Supplies Inc requires. The equipment is at the shop and ready to go!

Foreign Investment and Strategic Alliances

With the global push for electric vehicles and renewable energy technologies, the interest in nickel has surged. Green River Gold's rigorous long-hole drilling programs and subsequent 43-101 will interest many players in this context. This has been made evident by the recent deals announced in the nickel mining markets. For example, Agnico Eagle Mines has invested $34.7 million into Canada Nickel Company Inc., giving Agnico a 12 percent stake in the company.  Or: FPX Nickel Corp. announced that it has entered into a subscription agreement for private placement financing (the "Private Placement") with a new cornerstone strategic investor, Sumitomo Metal Mining Canada Ltd., a wholly-owned subsidiary of Sumitomo Metal Mining.

Broader Explorative Initiatives

Beyond nickel, Green River Gold presides over the Fontaine Gold Project, boasting geological characteristics akin to neighbouring lucrative ventures. This initiative has presented highly encouraging prospects on the same property as the Quesnel Nickel Project. The company also leads exploratory experiences for other valuable minerals. The Kymar Silver Project and the KaLi Pegmatite Project are among their significant pursuits, each presenting a diversified approach to mineral exploration within British Columbia.

 

Conclusion

Green River Gold is thus strategically positioned within British Columbia's mining narrative. The company's resourceful use of the region's assets, adherence to environmentally conscious practices, and active development of its projects perfectly embody the progressive spirit of modern mining companies. As Green River Gold continues its pursuit of discovering Canada's following critical minerals, the industry at large watches with keen interest.

IMPORTANT LINKS

 

Green River Gold Corp

Gold Rush Supplies

 

INVESTMENT DISCLOSURE

Investors are advised to consult a financial professional to determine the appropriateness of an investment strategy based on their objectives, financial situation, investment horizon, and individual needs. Please read this link.

Mine$tockers disclose the ownership of the stock.