Thistle Resources Inc. (TRCG) Closes the Market

Thistle Resources Inc. (TSXV: TRCG) completed its qualifying transaction and TSX‑V listing on April 29, raising $3.42 million. Trading began May 5 under symbol TRCG, with the company initially highlighting the Middle River Gold Project – past high‑grade intercepts (e.g., 14.5 g/t Au over 3.38 m) and a newly identified 7 km mineralized “S‑Trend” plus an untested deep chargeability zone. On May 19, the company introduced a second high‑priority project: Brunswick Antimony, boasting trench assays up to 10.3% Sb, 1 300 g/t Ag, and 2.32 g/t Au. The most recent news release (May 19, 16:52) formally closed the market, summarised the same high‑grade gold intersections, and provided the first concrete details of the Phase 3 drill programme: 4 000 m from 26 sites starting June 2026. The release effectively packages earlier announcements into a single, forward‑looking market-close statement.

The May 19 16:52 release is routine – it adds no new assay results, project acquisitions, or fundamental changes that the market didn’t already know from the same day’s earlier news (Brunswick introduction) and the May 5 listing update. While specifying the drill-metre target and hole count (4 000 m, 26 holes) for Middle River is a positive incremental step, it merely firms up previously announced intentions to drill this summer. The antimony‑silver‑gold trench results, which could be material, had already been disseminated hours earlier and were priced into the day’s trading before the market‑close bulletin. No fresh strategic investor, financing, or discovery was announced. Thus, the most recent news does not change the investment thesis; it confirms and refines an exploration plan that was already broadly outlined.

Thistle Resources is a Canadian junior explorer focused on the Bathurst Mining Camp, New Brunswick, with a secondary Nova Scotia asset. Flagship: Middle River Gold Project – a high‑grade orogenic gold system with past intercepts up to 14.5 g/t Au and a 7 km trend of mineralized folds, plus an untested deep zone at ~400 m. Management targets a 2 Moz+ deposit. The Brunswick Antimony Project – on the doorstep of the former Brunswick #12 mine – has returned exceptional grab/trench samples of antimony, silver, and gold, positioning it as a potential high‑value critical‑mineral play. The company also holds three earlier‑stage properties (Middle River VMS, Alba Forks Gold, Celtic Highland Gold) covering a total 127.87 km².