Golden Globe Resources (ASX:GGR) has closed its initial public offering, receiving oversubscriptions exceeding the maximum $8.5 million threshold to list on the Australian Securities Exchange (ASX) as of 31 October.
The offer proposed to raise between $7.5 million and $8.5 million, capping the capital raise at the latter for institutional, “high” net worth, and retail investors.
Now trading on the ASX, Golden Globe is shifting its focus to an upcoming drilling program at the Dooloo Creek Project in Queensland.
CEO Colin McMillan says the company has an “enormous opportunity” at the project, following up on recently modelled exploration targets.
“During my nearly 40 years as a geologist, I have rarely seen such high-grade gold and copper results from surface rock sampling,” McMillan says.
Golden Globe has engaged drilling contractor Central Deep Hole Drilling to conduct activities at Dooloo Creek. The diamond and reverse circulation drill program is expected to begin mid-November, testing an initial 12 holes 4,000m where copper and gold have previously been intercepted.
Diamond drilling will cover the Northern Gold, Eastern Breccia, and True Blue prospects, targeting geophysical anomalies, surface rock sampling grades, anomalous sulphides, and prior drilling intercepts.
Reverse circulation drilling will extend over several prospects, including follow-up holes to expand mineralisation and alteration uncovered at the Silver Plain, Base Station Hill, and True Blue prospects.
Golden Globe is a gold explorer focused on uncovering potential across a range of targets in Queensland and New South Wales.
Write to Maddison Elliott at Mining.com.au
Images: Golden Globe Resources
