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Private Placement: Gunpoint Exploration (TSXV:GUN)

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Gunpoint Exploration is looking to raise gross proceeds of up to $1.5 million from the placement of up to 3 million units priced at $0.50 per unit. The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.75 for 24 months.

Additional Information:

Company: Gunpoint Exploration
Website: http://www.GunpointExploration.com
Stock Symbol: TSXV: GUN
Date Published: Jan 27, 2022
Transcript: Available

Video Transcript:

I’m Kamantha Naidoo for Investmentpitch Media

Gunpoint Exploration has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 3 million units priced at $0.50 per unit.

The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.75 for 24 months.

The shares are currently trading at $0.55.

Net proceeds will be used for exploration on the company’s Talapoosa gold project in Nevada and for general corporate purposes.

Gunpoint owns the Talapoosa gold-silver project located in the Walker Lane gold trend in western Nevada.

The mineralized area at Talapoosa is approximately 2,200 feet long, up to 1000 feet wide and 500 feet thick down dip, remaining open along strike to the northwest and southeast.

District scale upside exploration exists with the untested seven kilometer long Appaloosa mineralized ridge north of the Talapoosa deposit.

Talapoosa has a N1-43-101 Measured and Indicated Resource containing over 1.2 million ounces of gold and 15 million ounces of silver at an average grade of 1.1 g/t gold and 15 g/t silver.

In 2015, a PEA using conservative metal prices returned robust project economics, with an after-tax net present value of US$136 million and 39% IRR with gold at US$1,150 and silver at US$16 per ounce.

Gunpoint intends to drill Talapoosa for metallurgical testwork to evaluate heap leach recoveries of the transitional unoxidized material.

In addition to Talapoosa, Gunpoint owns Cerro Minas, a silver-copper-zinc project located in Oaxaca State, Mexico, which the company has optioned to Megastar Development Corp.

In Guatemala, Gunpoint’s El Escorpion silver property is surrounded by Pan American Silver Corp’s Escobal mine.

For more information, please visit the company’s website at www.GunpointExploration.com, contact Randy Reifel, President, at 604-617-1717.

I’m Kamantha Naidoo for Investmentpitch Media