en.Wedoany.com Reported - US precious metals company Star Gold Corp. recently announced the completion of a $3.68 million private placement, with proceeds to be used for mine development and exploration at the Longstreet gold-silver project in Nevada. Located in the mining-friendly state of Nevada, the company plans to advance development through resource expansion and preliminary economic assessment.
According to a technical report (compliant with SEC Regulation S-K 1300) prepared by independent geologist Paul Noland (Certification #11293), the Longstreet project has total resources of 11.1 million tonnes, containing 213,082 ounces of gold equivalent (132,414 ounces of gold and 4.84 million ounces of silver). Of this, indicated resources total 8.7 million tonnes at a grade of 0.0199 oz/t gold equivalent, containing 172,944 ounces; inferred resources total 2.4 million tonnes at a grade of 0.0167 oz/t gold equivalent, containing 40,138 ounces. The project has a strip ratio of 1.73:1, with 100% oxide material suitable for heap leach recovery.
Funds will be primarily allocated to 10,000 feet of resource expansion and infill drilling ($1 million), preliminary economic assessment ($100,000), updated resource estimate ($100,000), production wells and monitoring wells ($240,000), and initial mining permits and engineering design ($300,000). Additionally, the company recently underwent leadership changes: In February of this year, former Chief Financial Officer and current Chairman Lindsay Gorrill was appointed Chief Executive Officer, effective February 9, 2026, bringing over 30 years of mine construction experience.
Star Gold currently has 119.7 million shares outstanding, with major shareholders including Myrmikan Capital LLC (26,976,700 shares) and CEO Lindsay Edward Gorrill (30,856,900 shares). Technical analysts note that Star Gold moves in coordination with the CDNX index, outperforming when the index rises. The weekly chart shows a large inverted head and shoulders pattern, with a minimum target of 2,000 points, and the stochastic oscillator has generated a buy signal. A long-term bottom pattern can be traced back to 2013, with continuously increasing volume. As of April 23, 2026, the stock price is approximately $0.13, with a short-term technical target of $0.20 and a long-term target of $5.40, earning a technical rating of "Strong Speculative Buy."
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