GT Resources - Milestones & Achievements in 2024

GT Resources' 2024

GT Resources has strategically positioned itself in the critical metals sector, focusing on the development of copper and nickel projects across North America and Europe. With a mission to contribute to the global energy transition, GT Resources has demonstrated significant progress in 2024, achieving operational, financial, and corporate milestones that have set the stage for sustained growth. This landmark year was marked by notable advancements in exploration, substantial financial backing, and strategic corporate changes. Key highlights include high-grade discoveries at flagship projects such as the Canalask Nickel-Copper Project in Yukon, Canada; the Tyko Copper-Nickel Project in Ontario, Canada; and the Läntinen Koillismaa (LK) Project in Finland. These projects underscore GT Resources’ commitment to unlocking value in critical metal resources.

Corporate Developments

GT Resources underwent significant corporate changes in 2024 to strengthen its market presence and align with its strategic objectives:

• Rebranding: In March, the company transitioned from Palladium One Mining Inc. to GT Resources Inc., reflecting a sharper focus on critical metal exploration and development.
• Market Alignment: By May, GT Resources began trading under the new U.S. OTC Markets ticker symbol “CGTRF,” reinforcing its corporate identity.
• Project Expansion: The company’s updates on the Kostonjarvi Project in Finland, alongside continued exploration at Tyko and Canalask, highlight its intent to expand its exploration footprint.

Operational Developments

The past year witnessed significant strides in GT Resources’ exploration activities:

• Canalask Nickel-Copper Project, Yukon, Canada:
  • July 2024: The company commenced diamond drilling at this flagship project, aiming to explore significant electromagnetic anomalies.
  • September 2024: Initial diamond drill assay results revealed an intersection of 2.12% nickel over 19.9 meters in the Footwall Zone, indicating high-grade nickel mineralization.‍
  • November 2024: Further assays showcased a 1.95% nickel intersection over 33.5 meters, demonstrating the potential for surface-level nickel deposits.‍
  • December 2024: Final assays included a copper-gold intersection of 1.84% copper and 1.17 g/t gold over 6.1 meters, highlighting additional mineralization opportunities.‍
• Tyko Copper-Nickel Project, Ontario, Canada:‍
  • The Tyko project continued to showcase its potential as a high-grade copper-nickel discovery, with ongoing exploration confirming its strategic importance within GT Resources’ portfolio.‍
• Läntinen Koillismaa (LK) Project, Finland:‍
  • The LK Project remains a cornerstone of the company’s European exploration efforts, with updates in 2024 reinforcing its potential for hosting significant nickel, copper, and PGE mineralization.‍
• Kostonjarvi Project, Finland:
  • April 2024: An update revealed promising prospects for hosting significant copper and nickel mineralization, strengthening its European portfolio.‍

• North Rock Project, Ontario, Canada:‍
  • ‍November 2024: GT Resources initiated a BHEM survey, marking the first exploration activities on this project.

Financial Performance

GT Resources’ financial achievements in 2024 underscored its ability to secure the capital necessary for ambitious exploration programs:

• Private Placement Financing: The company completed in June a non-brokered private placement financing of CAD$1.84 million, dedicated to the Canalask exploration campaign.
• Cash Balance and Net Working Capital: Estimated to be over $9M at Dec 31^st

These financial activities demonstrate investor confidence and GT Resources’ ability to maintain a robust capital position to fund its exploration initiatives.

Outlook for 2025

As GT Resources moves into 2025, the company’s strategic priorities are clear. Building on the exploration successes at Canalask, Tyko, and the LK Project, further drilling programs are expected to delineate resource estimates and unlock the full potential of its discoveries. Similarly, plans for advanced exploration at the Kostonjarvi and North Rock projects will likely expand its critical metal portfolio. Additionally, the company aims to strengthen its financial standing through targeted capital-raising activities while continuing to align with the global demand for energy-transition metals.

Conclusion

GT Resources’ achievements in 2024 have established a solid foundation for growth, marked by operational breakthroughs, strategic rebranding, and robust financial backing. The company’s commitment to advancing its projects, including Canalask, Tyko, and the LK Project, as well as exploring untapped mineral opportunities, positions it well for success in 2025 and beyond. With the rising demand for critical metals in the green energy revolution, GT Resources is poised to play a pivotal role in the industry’s future.