British Columbia Securities Commission Reviews Great Eagle Gold Corp.’s Disclosure: Clarifications Regarding Geological Information and Resource Statements
On February 4, 2025, Great Eagle Gold Corp. (CSE: GEGC) (OTC Pink: GEGCF) (FSE: GI8) (“Great Eagle”) released a statement to provide clarification on certain aspects of its January 27, 2025 press release entitled “Great Eagle Gold Corp. Announces LOI to Acquire Patented Mineral Rights Titles Containing NI 43-101 Certified Gold Resources.” This clarification comes as a result of a review by the British Columbia Securities Commission and a request from the Canadian Investment Regulatory Organization (CIRC).
Clarifications on Geological Information
Great Eagle stated that the January 27 Release contained certain errors regarding the geological information provided. Specifically, the Company reported that the mineralized zones identified in the press release were located in the “Northern and Southern Project Areas.” However, the correct terminology should have been “Northern and Southern Property Areas.” Additionally, the Company reported that drilling intercepts were taken from the “Burro Creek and Plateau Zones,” but the correct terminology is “Burro Creek and Plateau Deposits.”
Clarifications on Resource Statements
Great Eagle also clarified certain resource statements made in the January 27 Release. The Company reported that it had identified “historical resources” totaling 1.7 million ounces of gold. However, the correct term should have been “historical estimated resources,” and the Company emphasized that these resources have not been verified by a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”) and are considered to be of a lower level of confidence than NI 43-101 compliant mineral resources.
Impact on Great Eagle and the Mining Industry
The clarification by the British Columbia Securities Commission and CIRC serves to highlight the importance of accurate disclosure in the mining industry. Companies must ensure that all information provided to investors is clear, precise, and compliant with regulatory requirements. Inaccurate or misleading statements can lead to regulatory action, reputational damage, and financial consequences.
Impact on Individual Investors
For individual investors, this clarification serves as a reminder to carefully review all information provided by companies before making investment decisions. It is essential to verify the accuracy of any geological or resource statements made by the Company, and to consult with industry experts or financial advisors if necessary. This will help investors make informed decisions and minimize the risk of potential losses.
Conclusion
Great Eagle Gold Corp.’s clarification regarding certain geological information and resource statements in its January 27, 2025 press release is a reminder of the importance of accurate disclosure in the mining industry. Companies must ensure that all information provided to investors is clear, precise, and compliant with regulatory requirements. Individual investors should carefully review all information provided by companies and consult with industry experts or financial advisors to make informed investment decisions.
- Great Eagle Gold Corp. clarified certain geological and resource statements made in its January 27, 2025 press release.
- The clarification came as a result of a review by the British Columbia Securities Commission and a request from the Canadian Investment Regulatory Organization.
- The Company reported errors in the terminology used for mineralized zones and drilling intercepts, and clarified that historical resources reported were of a lower level of confidence.
- The clarification serves as a reminder of the importance of accurate disclosure in the mining industry and for individual investors to carefully review all information provided by companies.
