Gold Springs Resource
Corporate brand
UnclaimedCanadian mineral exploration and development company focused primarily on the Gold Springs gold-silver project on the Utah-Nevada border in the United States.
Last updated August 31, 2026
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Overview
Gold Springs Resource Corp. is a Canadian mineral exploration and development company whose principal asset is the Gold Springs gold-silver project, an advanced exploration-stage property straddling western Iron County, Utah, and eastern Lincoln County, Nevada. The project is the company’s central strategic focus and is intended to support the eventual development of a precious-metals operation, although the available reference material does not establish that commercial production has begun. The company was established in 2006 under the name South American Silver Corporation as an equity carve-out from General Minerals Corporation, later renamed Sprott Resource Corporation. Its original portfolio comprised the Malku Khota and Laurani mineral properties in Bolivia and the Escalones property in Chile. South American Silver completed an initial public offering on the Toronto Stock Exchange in February 2007. Laurani’s exploration rights expired in 2009, after which related expenditures were written off. Malku Khota became the company’s most important early asset after a preliminary economic assessment identified a high-grade silver-indium-gallium deposit. Malku Khota was nevertheless socially and politically contentious. Local opposition, including resistance from indigenous groups, was accompanied by intimidation and violence. Mediation efforts did not resolve the dispute, and the Bolivian government under Evo Morales nationalized the property in 2012. The loss materially altered the company’s prospects and led to a prolonged compensation claim. The company sought US$385.7 million through international arbitration; the Permanent Court of Arbitration later awarded US$18.7 million plus interest, while a 2019 settlement provided US$25.7 million and included the transfer of exploration data. Following its exit from Bolivia, the company shifted its portfolio toward North America. It acquired a 20 percent interest in High Desert Gold Corporation in 2013 and acquired the remaining outstanding shares in 2014. The transaction brought the Gold Springs project into the group. On March 17, 2014, South American Silver changed its name to TriMetals Mining Inc. Although the company continued to maintain the Escalones copper-gold-silver-molybdenum prospect in Chile, Gold Springs increasingly became its principal asset. After completing a preliminary economic assessment of that project, the company adopted the name Gold Springs Resource Corp. in 2019. The Gold Springs property comprises approximately 7,470 hectares. Its land position includes 961 unpatented lode claims, 13 patented lode claims, four State of Utah leases, and one surface real-estate deed parcel and right-of-way. The property is held through Gold Springs LLC, a wholly owned subsidiary of High Desert Gold, which in turn is wholly owned by Gold Springs Resource. The company’s business model is characteristic of a junior or emerging mineral developer: acquiring and consolidating prospective properties, conducting geological and engineering work, preparing technical and economic studies, seeking permits and financing, and evaluating development options. Its principal exposure is to gold and silver, while its historical portfolio also included copper, molybdenum, indium, and gallium prospects.
History
Gold Springs Resource was created on September 28, 2006, as South American Silver Corporation, an equity carve-out subsidiary of General Minerals Corporation, which was later renamed Sprott Resource Corporation. The new company was established to pursue mineral exploration and development in South America. Its initial portfolio included the Malku Khota and Laurani properties in Bolivia and the Escalones property in Chile. South American Silver completed an initial public offering on the Toronto Stock Exchange on February 19, 2007. The Laurani gold-silver-copper property did not remain in the portfolio after its exploration rights expired in 2009, and the associated expenditures were written off. Malku Khota, by contrast, received a preliminary economic assessment indicating a high-grade silver-indium-gallium deposit. The project became controversial in the surrounding area. Despite the company’s community-relations efforts, several indigenous groups opposed the project, and the dispute was accompanied by intimidation and violence. Mediation conducted through the Potosí Department failed to produce a durable agreement. In 2012, the government of Evo Morales nationalized Malku Khota, preventing its development by the company. The loss had a major effect on South American Silver’s market valuation and prompted the company to seek compensation. It initially claimed US$385.7 million. The Permanent Court of Arbitration ultimately awarded US$18.7 million plus interest. In 2019, the parties reached a settlement valued at US$25.7 million that also involved the transfer of exploration data. The company responded by redirecting its strategy toward assets in North America. In 2013 it purchased a 20 percent interest in High Desert Gold Corporation, then acquired the balance of the outstanding shares in 2014. Through that transaction it obtained the Gold Springs property, located across the Utah-Nevada border. On March 17, 2014, South American Silver changed its name to TriMetals Mining Inc. The company continued to explore Escalones in Chile, but Gold Springs gradually became its dominant corporate asset. Gold Springs is an advanced exploration-stage gold-silver project in western Iron County, Utah, and eastern Lincoln County, Nevada. The property covers approximately 7,470 hectares and includes a mixture of unpatented and patented lode claims, State of Utah leases, and surface and right-of-way interests. Ownership is held through Gold Springs LLC, a wholly owned subsidiary of High Desert Gold, itself wholly owned by the company. A preliminary economic assessment was completed for Gold Springs as the project advanced through technical evaluation. In 2019, reflecting the project’s importance, TriMetals Mining adopted the name Gold Springs Resource Corp. The company remains focused on mineral exploration and project development rather than an established manufacturing or consumer-products business. Its historical assets demonstrate a transition from South American exploration, including silver and polymetallic prospects, to a more concentrated precious-metals strategy centered on the United States. The Escalones property remains a Chilean copper-silver-gold-molybdenum prospect in the company’s historical or broader asset base, while Gold Springs is the principal project identified in the reference material.
- 2019
Corporate name changes to Gold Springs Resource
[1]TriMetals Mining adopts the Gold Springs Resource name as the Gold Springs project becomes its principal asset.
- 2014
High Desert Gold becomes wholly owned
[1]The company acquires the remaining outstanding shares of High Desert Gold.
- 2014
Corporate name changes to TriMetals Mining
[1]South American Silver adopts the TriMetals Mining Inc. name.
- 2013
Initial investment in High Desert Gold
[1]South American Silver acquires a 20 percent interest in High Desert Gold, gaining exposure to the Gold Springs project.
- 2012
Malku Khota is nationalized
[1]Bolivia nationalizes the Malku Khota property after local opposition and failed mediation.
- 2009
Laurani rights expire
[1]Exploration rights for the Laurani property in Bolivia expire, and associated expenditures are written off.
- 2007
Initial public offering
[1]South American Silver completes an initial public offering on the Toronto Stock Exchange.
- 2006
South American Silver Corporation is created
[1]The company is established as an equity carve-out from General Minerals Corporation to pursue mineral properties in Bolivia and Chile.
Products and positioning
A Canadian exploration and development company centered on advancing a large gold-silver property in the western United States, with a corporate history that includes earlier precious-metals and polymetallic projects in Bolivia and Chile.
Gold and silver mineral exploration and development
Gold Springs project
The Gold Springs project is an advanced exploration-stage gold-silver property located on the border of Utah and Nevada. It covers approximately 7,470 hectares through 961 unpatented lode claims, 13 patented lode claims, four State of Utah leases, and surface and right-of-way interests. The project is held through Gold Springs LLC, a wholly owned subsidiary of High Desert Gold. It became the company’s principal asset and was the basis for the 2019 corporate rebranding.
Copper, gold, silver and molybdenum exploration
Escalones
Escalones is a polymetallic porphyry and skarn exploration property in Chile’s Santiago Metropolitan Region, approximately 35 kilometres east of the El Teniente underground copper mine and about 100 kilometres southeast of Santiago. The property has been described as containing copper, molybdenum, gold and silver mineralization. It was part of the company’s original South American portfolio and remained an exploration focus after the company shifted away from Bolivia.
Silver, indium and gallium exploration
Malku Khota
Malku Khota was a Bolivian mineral property held during the company’s South American Silver period. A preliminary economic assessment identified a high-grade silver-indium-gallium deposit. The project became the subject of substantial local opposition and was nationalized by the Bolivian government in 2012, after which the company pursued compensation.
Brand decisions
2019
Rebranding around the Gold Springs assetStrategyBackground
The Gold Springs project had become the company’s principal asset after the loss of Malku Khota and the acquisition of High Desert Gold.
Action taken
TriMetals Mining changed its name to Gold Springs Resource Corp.
Aftermath
The new name emphasized the company’s shift toward developing its Utah-Nevada gold-silver property.
2014
Acquisition of High Desert GoldM&ABackground
After acquiring a 20 percent interest in High Desert Gold in 2013, South American Silver sought to consolidate ownership of the Gold Springs project.
Action taken
The company acquired the remaining outstanding shares of High Desert Gold, making it a wholly owned subsidiary.
Aftermath
Gold Springs became the company’s principal project and later provided the basis for the Gold Springs Resource corporate identity.
2012
Pursuit of compensation after Malku Khota nationalizationStrategyBackground
The Bolivian government nationalized Malku Khota following local opposition and failed mediation, removing a major company asset.
Action taken
The company pursued an international compensation claim, initially seeking US$385.7 million.
Aftermath
The Permanent Court of Arbitration awarded US$18.7 million plus interest, and the parties later settled for US$25.7 million in 2019 with an associated transfer of exploration data.
Compensation settlement. US$25.7 million (2019 settlement)
Sources1 sources
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