Business
Contact Gold Reports Q3 2020 Financial and Operating Results
Vancouver, British Columbia--(Newsfile Corp. - November 13, 2020) -   Contact Gold Corp. ...
About this update from Commodore Metals Corp.
[{"type":"text","content":"Contact Gold Reports Q3 2020 Financial and Operating ResultsVancouver, British Columbia--(Newsfile Corp. - November 13, 2020) -  Contact Gold Corp. (TSXV: C) (OTCQB: CGOL) (the \"Company\" or \"Contact Gold\") is pleased to announce its financial and operating results for the three and nine months ended September 30, 2020. All dollar amounts are presented in Canadian dollars unless otherwise stated.Highlights and recent developments Began drill program at the past-producing Green Springs gold property in Nevada (\"Green Springs\") in early September (September 2, 2020), and added a core drill rig to push drill holes down to the Pilot Shale target (September 30, 2020). Assays are pending for all holes drilled to date in the 2020 exploration program.Closed a public offering of units of the Company (\"Units\") at a price of $0.20 per Unit raising aggregate gross proceeds of $14,774,000 (the \"Offering\") (September 29, 2020).Concurrent with closing of the Offering, redeemed all of the Company's outstanding preferred shares (\"Preferred Shares\") (September 29, 2020).Exploration updateThe Company's planned 7,000 metre drill program is underway at Green Springs with two drill rigs active at the property. The program is focused on high confidence step-out holes on known zones of Chainman and Pilot Shale hosted gold mineralization beneath the 2.5 km mine trend, as well as greenfields targets to the East and North of the mine trend. Drilling continues with assay results pending from 26 RC holes, and 7 core holes completed to date.Due to the timing and focus on the Green Springs program, the drill program at the Pony Creek gold property (\"Pony Creek\"), has been pushed to 2021. Pony Creek is fully permitted to test multiple undrilled gold targets on trend from Gold Standard Ventures' Railroad project.Selected financial dataDetails of financial results as at and for the three and nine months ended September 30, 2020, are described in the unaudited condensed interim consolidated financial statements and related notes thereto (the \"Interim Financial Statements\"), as prepared in accordance with United States Generally Accepted Accounting Principles (\"US GAAP\"), and the MD&A for the corresponding period, copies of which are available on SEDAR at www.sedar.com. The following selected financial data is derived from the Interim Fin...