Overview of Gold 50's Quarterly Activities Report

Gold 50 Limited (ASX: $G50) has released its Quarterly Activities Report for the period ending 31 December 2023. The report highlights the completion of a full technical review of the Golconda geological model, focusing on gallium mineralization. The company also announced significant domestic USA gallium discovery at the Golconda Project in Arizona. Additionally, Gold 50 provided updates on the White Caps Project in Nevada, including the completion of a discrete soil sampling program and pending sample results. The Managing Director, Mark Wallace, expressed satisfaction with the progress made during the December quarter, particularly in gaining a better understanding of the geological model at Golconda and identifying highly prospective targets at the White Caps Project.

Managing Director's Perspective on Recent Developments

With the onset of the North American winter, the December quarter has allowed the team to consolidate the results of a significant amount of work completed during the year at both Golconda and White Caps. A better understanding of the geological model at Golconda has provided new insights into the controls of the gallium mineralization at the project. Our White Caps Project in Nevada includes numerous patented claims where exploration can be progressed relatively quickly. Our first principles approach at White Caps has exceeded our expectations with several highly prospective targets identified along strike and below the historical high grade White Caps Mine.

Summary of Quarterly Activities and Future Plans

Gold 50 has completed a full technical review of the Golconda geological model, leading to new insights into gallium mineralization. The company has also made a significant domestic USA gallium discovery at the Golconda Project in Arizona. Plans for Phase 2 drilling at Golconda and a soil sampling program at White Caps are underway. The Managing Director expressed satisfaction with the progress made during the December quarter. Gold 50's focus on gallium, a critical mineral in the modern world, aligns with the increasing demand for gallium in various industries. The company's exploration targets at the White Caps Project indicate the potential for high-grade gold discoveries. With a positive outlook, Gold 50 aims to continue its operations and meet its business objectives, leveraging the progress made in the recent quarter.