New top exec to take GT Gold to next level
Last updated 6/22/2018 at 4:20am
GT Gold Corp. June 14 named Steve Burleton, a seasoned mining executive with significant experience in capital raising and corporate development as the gold exploration company's new president and CEO.
"I am thrilled to be joining the GT Gold team – a team which has made great strides in advancing the Saddle discovery since going public over a year ago," said Burleton.
Burleton replaces Kevin Keough, who stepped down as GT Gold's top executive and board member.
"It has been a pleasure serving as a key member of the team that created GT Gold and delivered the potentially world-class Saddle gold-copper discovery," said Keough. "My interests and skills lie with early-stage corporate setup and exploration.
Keough has agreed to stay on as a consultant for at least three months to assist with the transition and will continue to support the company as needed.
Burleton was most recently vice president of business development at Richmont Mines Inc., prior to that company's acquisition by Alamos Gold Inc. for US$770 million late in 2017. During his time at Richmont, Burleton was responsible for financing and worked closely with the executive team in determining the company's strategic direction. He has over 18 years of experience in the Canadian investment banking industry advising and executing debt and equity financing for companies in the mining, fertilizer and industrial products sectors.
In addition to Burleton, GT Gold announced that Renaud Adams, a mine engineer with 25 years of experience as an executive and operator in the mining industry, will be joining the board of directors.
"I am very excited to be working with Steve and the GT Gold team as the company embarks on its new phase of unlocking the full potential of the Saddle discovery and advancing the discovery, which is located in a mining friendly jurisdiction, into a world class asset with significant upside," said Adams.
Adams served as president and CEO of Richmont until it was bought out by Alamos. Before that, Adams served as president and CEO of Primero Mining Corp .; Senior Vice-President, Operations Americas of IAMGOLD Corp .; and vice president and general manager of the Rosebel Gold Mine in Suriname for IAMGOLD.
"We are very excited about bringing on Steve and Renaud, who were an important part of the successful Richmont team that created tremendous value for Richmont shareholders," said GT Gold Executive Chairman Ashwath Mehra. "The skill-sets that these two gentlemen bring to GT Gold will allow us to take the Saddle discovery and related projects to the next level, and in that process we expect to continue to create significant shareholder value."
GT Gold made the Saddle gold discovery during a 16,000-meter maiden drill program carried out last year on the Tatogga property in British Columbia's Golden Triangle, a campaign that included 86 holes primarily focused on the high-grade Saddle South gold discovery.
Highlights from last year's drilling include 7 meters of 51.53 g/t gold and 117.38 g/t silver; 12.2 meters of 14.75 g/t gold; 3.4 meters of 48.85 g/t gold; 8.3 meters of 20.02 g/t gold; and 3 meters averaging 31.79 g/t gold and 1,141 g/t silver.
An 18,000-meter program about ready to get underway will follow up on the Saddle South discovery; test porphyry style mineralization encountered over a 3,000-meter area last year at Saddle North.
In addition to drilling, the 2018 program will investigate Quash-Pass, a prospect area about seven kilometers (4.3 miles) southwest of the Saddle targets that has geological and geophysical similarities to Saddle South.
"The Saddle discovery is a very exciting and prospective gold property situated within the expansive Tatogga property located in the Golden Triangle in Northern B.C. I look forward to this season's drilling, our second at Saddle South, which is about to get underway," said Burleton.