Welcome to Taiga Gold Corp.
Taiga Gold Corp. is a Canadian-based mineral exploration company with a focus on gold. The company has interest in 6 mineral exploration properties located in the vicinity of SSR Mining's Seabee Gold Operation in eastern Saskatchewan, Canada. Taiga's flagship project, the Fisher, is located both north and south of the Seabee Gold Operation and is currently optioned to SSR Mining.
Taiga Gold Corp. was created by way of plan of arrangement when it was spun-out from Eagle Plains Resources on a 1 Taiga Gold share for 2 Eagle Plains share basis in early Q2 2018. Management is made up largely of geologists with decades of experience that have a proven ability to develop joint-venture partnerships. Taiga Gold's management also has a history of creating value through spinning-out projects and making them available for acquisition.
The near-term corporate objective is to enhance shareholder value by making precious-metal deposit discoveries using the earn-in funds of partner companies as well as self-funded programs by Taiga Gold Corp. The overall corporate objective is to develop Taiga Gold Corp. into a compelling acquisition target by maintaining and developing a profile of attractive precious-metal projects with a regional focus.
Between 2014 and 2018 a series of events occurred that culminated in an opportunity for Eagle Plains to act upon a favored component of its business model - spinning-out exploration projects that have been advanced and possess the characteristics to stand-alone as a separate company. The intent of the spin-out process is to spotlight the value of these advanced projects when separated from the large portfolio of more early-stage exploration projects within Eagle Plains. This opportunity came as per the following sequence of events.
- Eagle Plains identifies Saskatchewan as a favorable jurisdiction in which to operate:
- relatively inexpensive opportunity to acquire projects through online staking
- favorable Fraser Institute Report ranking as a jurisdiction to conduct exploration and mining activities.
- Eagle Plains tasks its Chief Geologist with researching and acquiring the best gold exploration projects he can identify in western Canada
- A response to the industry wide downturn that resulted in an increase of the availability of highly-prospective exploration projects
- A key component to Eagle Plains' business strategy - maintain a healthy treasury to leverage when acquisition opportunities present themselves during these downturns
- Eagle Plains acquires the Kettle Falls and Truscott projects (now part of the greater Fisher Property) in the Seabee/Santoy Mine region
- Eagle Plains acquires the Orchid Project and conducts exploration programs at the Truscott and Kettle Falls projects (now incorporated in to the larger Fisher project) in the Seabee/ Santoy Mine region
- Eisler Project (now part of Fisher), Chico and Leland are acquired and initially explored with ground-based programs
- Eagle Plains completes the land consolidation resulting in the creation of the greater Fisher Property
- Silver Standard Resources (now SSR Mining) purchases Claude Resources in order to acquire the Seabee Gold Operation
- Silver Standard Resources options the Fisher Project from Eagle Plains and funds a $400k exploration program at the Fisher
- SSR Mining (formerly Silver Standard Resources) continues to explore the Fisher Property with ground-based programs to establish drill targets
- SSR Mining announces a $90m upgrade to the Seabee Mine Operation focussing on the Santoy Mine located approximately 1.5km north of the Fisher Property boundary
- SSR Mining conducts a 2 phase 18,000m drill program at the Fisher Project focusing on the Santoy shear zone located directly south of their Santoy Mine
- Eagle Plains Resources spins-out the Fisher, Chico, Orchid, Leland and Sam projects into Taiga Gold Corp on a 2 EPL : 1 TGC share basis
- Taiga Gold Corp. begins trading on the Canadian Stock Exchange under the symbol "TGC"
- SSR Mining conducts a 7640m drill program at the Fisher Project focusing on the Santoy Shear zone which has now been identified as bisecting the entire length of the Fisher property, for news and highlights of the 2019 exploration at the Fisher click here: https://www.taigagold.com/news/taiga-provides-update-2019-exploration-plans-extensive-2020-drill-program-fisher
- Drill intercept of high-grade gold at the Mac zone - The Mac zone represents the first area of significant gold discovery through drilling on the Fisher
- High-grade gold mineralization has been identified along a 13km trend of the Santoy Shear
- New gold discovery near the Santoy Mine Complex border
- 12,000m drill program on the Fisher to commence early 2020, Fisher exploration camp doubled in size to 42 person to accommodate increase in personell
- SSR Mining completes 9,463 meters of drilling in Q1 before ceasing operations due to COVID19. The results of this campaign include the initial discovery of high-grade gold mineralization in 3 of the 4 zones tested - Mac North, Yin and Abel Lake zones. No summer ground-based program was carried out
- In late Q3 a 3800m drill program commenced at the Mac North zone to follow up the discovery made there earlier in the year
- On November 12, SSR Mining notified Taiga Gold Corp. that that it has satisfied its commitments and has exercised the First Option earn-in relating to the Fisher Option Agreement, earning a 60% interest.
- This notification triggers a one-year term where SSR Mining may elect to purchase an additional 20% interest in the Fisher property by paying $3m to Taiga Gold Corp
- On January 5, SSR Mining notified Taiga Gold Corp. that that it has exercised the Second Option earn-in relating to the Fisher Option Agreement, for a total interest of 80% in the Fisher Property
- An 80/20% joint-venture has been formed between SSR Mining and Taiga Gold Corp. called the "Fisher JV"
- In order to execise this second option SSR Mining has paid Taiga Gold $3 million cash
All of the properties that comprise Taiga Gold Corp. are located in Seabee Gold Operation Region of eastern Saskatchewan. With the exception of the Sam Property, these projects are located within the hanging-wall block of the north-south trending Tabbernor Lake fault system – a major crustal shear system that has been traced over 1500 km from the Wollaston Lake area of northern Saskatchewan to within 100 km of the Black Hills in South Dakota. Splays of the Tabbernor Lake fault system in the Laonil Lake region contain shear hosted quartz-tourmaline-pyrite-pyrrhotite-gold mineralized veins which typify ore-hosting structures at the Seabee Mine. The Seabee Mine, purchased by SSR Mining from Claude Resources Inc. in March 2016, has been in operation since 1991 and has produced over 1 million ounces at an average grade of 0.23 oz/ton Au (7.89 g/t).
Creating Value for Eagle Plains Resources Shareholders
Eagle Plains Resources, the company that spun-out Taiga Gold is a project generator. Eagle Plains strategy to create shareholder value through its project generator business model is to spin-off successful exploration projects into new companies. This spotlights the project value for the market and simplifies the corporate structure around the projects. Taiga Gold Corp. is an example of this but it's not Eagle Plains' first. Another example of this was the creation of Copper Canyon Resources in 2006, Eagle Plains shareholders received this new share on a 1-for-1 basis. Copper Canyon Resources was then purchased by NovaGold Resources in 2011, and as part of the arrangement, the remaining assets of CPY were then spun into a new company for the shareholders, Omineca Mining and Metals (OMM-TSX-V).
Eagle Plains Spins-Out Taiga Gold Corp
In April 2018, Eagle Plains spun-out Taiga Gold Corp. to shareholders on a 2 EPL for 1 TGC share basis. The spin-out was conducted to maximize shareholder value by spotlighting the value of the properties and the option arrangement with SSR MIning as well as simplifying the corporate structure. Taiga Gold Corp. is comprised of 5 gold projects located adjacent to and in the vicinity of the SSR Mining's Seabee Gold Operation in northeastern Saskatchewan. For more information about this Plan of Arrangement please visit the following links:
- Spin-Out Plan Overview
- Plan of Arrangement Document
- Eagle Plains 2018 Information Circular for the Special Meeting of Shareholders held on April 6th, 2018
Taiga Gold Corp. Plan of Arrangement - Accounting Information
In April 2018, Eagle Plains Resources spun-out 5 properties in the vicinity of SSR Mining's Seabee Gold Operation in northeastern Saskatchewan into Taiga Gold Corp. resulting in 1 TGC share for 2 EPL share split. For accounting purposes the adjusted cost basis (ACB) of the Taiga Gold Corp. share is to be 30.34% of the pre-split Eagle Plains share purchase value.
Taiga Gold Corporation stock trades on the Canadian Stock Exchange (CSE) under the symbol TGC.
Taiga Gold Corp. 2020 Information Circular - for the Annual and Special Meeting of Shareholders to be held on September 24, 2020
Taiga Gold Corp. Information Circular 2020
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Updated January 6, 2021