ValGold Resources Ltd. (ValGold) is a long-established Canadian royalty and mineral exploration company which holds a net smelter royalty on the “Garrison Gold Project” in the Golden Highway Mining Camp near Timmins, Ontario. It also wholly owns the prospective Tower Mountain Gold Project near Thunder Bay, Ontario. Its other assets include exploration properties in Venezuela near the Kilometre 88 District and Brisas Cristinas Project.
ValGold holds a 2% net smelter royalty on 35 patented claims forming part of the Garrison Gold Project which is wholly-owned by Osisko Mining Inc. The royalty claims encompass the Jonpol and Garrcon Zones and also include a portion of the 903 Zone. The Garrison Project (OSK:TSX) is on the prolific Destor Porcupine Fault Zone and is the subject of an aggressive exploration and development drilling program by Osisko which has totaled in excess of 80,000 metres of new drilling since the summer of 2016. More information is available at osiskomining.com.
ValGold holds a 100% interest in the Tower Mountain Gold Project subject to a 2.5% net smelter royalty. A NI 43-101 compliant inferred resource estimate totaling approximately 151,000 ounces was completed in 2005 and the Company has discovered new zones in subsequent drilling in 2007 and 2011. ValGold is completing a modern three-dimensional computer-based model of the property and the prior drilling and a targeting review of the prior drilling, regional geology and ground and geophysical work to generate additional drill targets.
ValGold acquired a group of Venezuelan properties in  on which previous operators had spent US$38 million. ValGold commissioned two NI 43-101 compliant reports on the properties and a drill program before suspending operations in Venezuela.
ValGold completed a $1 million private placement of units in October 2017, which generated net proceeds after repayments of an outstanding convertible debenture and expenses of approximately $800,000. ValGold holds sufficient funds to maintain its operations for several years. ValGold is listed on the TSX Venture Exchange under the symbol VAL.