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New Listing: Golcap Resources Corp. (CSE:GCP)

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The company acquired the Tulameen Project through staking in October 2019. The Tulameen Project is located in British Columbia, approximately 6 kilometres northwest of the village of Tulameen and 25 kilometres northwest of the town of Princeton.

Additional Information:

Company: Golcap Resources Corp.
Stock Symbol: CSE: GCP
Date Published: Dec 29, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Golcap Resources Corp. is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “GCP”.

The company recently closed its fully over-subscribed IPO, raising gross proceeds of $287,500 from the placement of 2,875,000 units priced at $0.10 per unit.

Each unit consisted of 1 share and 1 warrant, with the warrant exercisable at $0.30 for 1 year.

Haywood Securities acted as agent for the offering.

The company acquired the Tulameen Project through staking in October 2019.

The Tulameen Project is located in British Columbia, approximately 6 kilometres northwest of the village of Tulameen and 25 kilometres northwest of the town of Princeton.

The town of Princeton provides accommodation for field work and basic supplies and is host to the currently producing Copper Mountain porphyry copper mine.

The property consists of two contiguous claims, which cover an area of 1,738 hectares.

The property is accessed by two Forest Service Roads with variably maintained logging roads providing good access to most parts of the property.

The Tulameen area has a long history of mineral exploration and mining, dating as far back as 1885 with the discovery of gold in Granite Creek, 12 kilometres southeast of the Tulameen Project.

Placer gold and platinum has been mined from creeks in the Tulameen area and a number of historical base and precious metal showings and workings occur around the perimeter of the Tulameen Project.
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Mineral claims covering all or part of the Tulameen Project date back as far as 1900, with much of the work directed at showings on Boulder Mountain near the northeast part of the Project and the Rabbitt Mountain area, to the southwest of the Project.

The closest producing mine to the Tulameen Project was the Rabbitt Mine, located six kilometres southwest of the tenures, which produced 33,516 grams gold and 18,614 grams silver from polymetallic veins between 1938-1941.

Boulder Creek, now named Lockie Creek, which runs through the middle of the Tulameen Project produced approximately 32,000 grams of gold from 1886-1909, including a nugget weighing 1400 grams.

The company completed a program of soil sampling followed by processing using induced coupled plasma and soil gas hydrocarbon predictive methods of soil analysis in October 2019.

In August 2020, the company completed a program of mapping, prospecting and rock sampling.

Results from the 2019 and 2020 programs defined a number of targets with one rock sample of note from the 2020 field work returning values of 0.377 parts per million gold and 62 parts per million silver, while another returned 84.4 parts per million antimony.

Please refer to the NI 43-101 Technical Report filed on Sedar.

The shares are trading at $0.20.

For more information, please contact Gordon Lam, President and CEO, at 604-675-2011 or by email at info@golcapresources.com.

I’m Cassandra Bolinski for Investmentpitch Media