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- Bison starts on Oz market with $5.5M float backed by four-project value prop smack bang in middle of Nevada gold, silver country.
- Explorer owns Ruby Lake, Cherry Springs, Bald Peaks, and Medicine Range.
- Nevada responsible for as much as 75% of U.S. gold production.
Nevada-focused Bison Resources (ASX:BSR) has started life on the ASX today, listing under ticker code “BSR” as it looks to raise up to $5.5 million. The IPO follows a heavily oversubscribed IPO that already raised $5.5 million.
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Bison drew interest before and now during its float because it carries as many as 312 unpatented lode mining claims across four contiguous projects – Ruby Lake, Cherry Springs, Bald Peaks and Medicine Range – in northeast Nevada. The overall area makes up a combined 26.1 square kilometres.
The projects sit 80km southeast of fully serviced mining town Elko, in the prolific Carlin Trend, one of the world’s premier gold and silver districts.
The value prop that Bison has been sharing into its float day is simple: Ruby Lake, Cherry Springs, Bald Peaks and Medicine Range all lie between two established precious metals deposits – southward Maverick Springs, owned and operated by AS explorer Sun Silver (ASX:SS1), and Medicine Springs to the north, which highlights the potential for gold-silver and base metal discoveries.
Nevada is also home to major operations run by Barrick Mining Corporation and Aussie gold heavyweight Newmont Corporation (ASX:NEM). Each quite easily ranks among the world’s largest gold mining operations.
Bison plans to use the $5.5M IPO proceeds to fund a multi-stage exploration program including airborne geophysics, geological mapping, geochemical sampling, and maiden drilling campaigns across its projects.
“Bison has secured a highly compelling land position in one of the world’s most richly endowed gold provinces at a time when the market is increasingly focused on US-based precious metals opportunities,” chairman Adam Jakovich told The Australian when it was still drawing up float plans in March.
“Our projects display many of the key geological ingredients associated with major discoveries across the Carlin Trend, including favourable carbonate host rocks, significant structural preparation, and clear hydrothermal footprints.
“With a strong and experienced team behind the company and a clear exploration roadmap, we believe Bison is well-positioned to unlock the significant potential.”
Nevada is responsible for as much as 75% of the U.S. gold production over the years, meaning Bison will also have access to world-class infrastructure, a deep mining services ecosystem, and proven endowments.
Right on the button, BSR added 30.5 cents to its price.
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