Date: 24/02/2025
*** GENERAL AVICE ONLY***
Gorilla Gold Mines Ltd (GG8, formerly Labyrinth Resources Limited) is an Australian gold development company with key projects in Canada and Western Australia. Recent acquisitions include the Vivien Gold Project and a 49% stake in the Comet Vale Project.
Gorilla Gold Mines Ltd (‘Gorilla’ or ‘the Company’), is pleased to announce maiden drilling results from Reverse Circulation (‘RC’) drilling at the Lake View Prospect, Comet Vale Project located 95km north of Kalgoorlie, and at the Vivien Project, located 16km west of Leinster WA.
Charles Hughes, Chief Executive Officer commented:
“It’s not every day you record a 130 gram-metre intercept from an exploration hole, let alone from the first pass scout drilling program at a new Prospect. Lakeview has only been lightly tested previously, and these results are a material improvement on previously known mineralisation from the area, the Prospect is completely open in all directions.
The maiden drilling program at Vivien has demonstrated the exploration upside in a project where mining of the Main lode has been the focus. The Val target had 1 hole that properly tested it historically, despite being located 30m from the open pit wall. Both GG8 holes that reached the Val target have returned gold mineralisation, the prospect is open in all directions.
Trade Rationale
GG8 has come out of trading halt today to announce great hits at Lakeview and Vivien. With $18m cash in the bank and drilling starting at Mulwarrie soon, look for more news to help this explorer keep this uptrend going. There has been a recent trend of good operators exploring in old producing mines to uncover more Gold using modern technology. It looks like GG8 could be another company that is part of that narrative, so happy to have a position in GG8. It is an explorer and could be prone to raising capital in the future, so size accordingly
Trade Strategy:
Buy GG8 up to 27.5c
Stop Loss 19c
Initial profit target 36cc
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.