GOLD DEVELOPMENT: Funding arrives for new zones at San Gold

MANITOBA SAN GOLD has arranged a bought deal private placement worth more than $20 million which will be spent on...
MANITOBA SAN GOLD has arranged a bought deal private placement worth more than $20 million which will be spent on development of new zones at its Bissett-area mines. The placement consists of 13,350 flow-through shares at a cost of $1.50 each. The deal will close in mid-October subject to regulatory approvals.

San Gold will spend the funds on two projects. First is the accelerated exploration of the new high-grade Hinge zones. This area of mineralization was discovered in early 2008 just 1 km east of the Rice Lake gold mine. Assays from the Hinge No.4 zone have been as high as 80.1 g/t Au over6.1 metres. Second is the initial development of the Cartwright-Gabrielle zones going into 2009.

A detailed analysis of San Gold's operation and exploration efforts was presented at the Denver Gold forum earlier this month. The entire presentation is available at www.SanGoldCorp.com.

Comments

Your email address will not be published. Required fields are marked *

Apr 08 2024 - Apr 09 2024
Apr 15 2024 - Apr 16 2024
Apr 16 2024 - Apr 16 2024
Apr 17 2024 - Apr 18 2024