sonaresources.com
Sona Resources Corp. is a junior resource company based in Vancouver, British Columbia, specializing in gold exploration, development and mining in North America. The Sona board of directors and management have decades of combined experience in the mineral exploration and mining industry, and in managing and financing junior exploration companies.
Since its inception in 1990, Sona has engaged in exploration activities at its 100 percent owned mineral properties in Canada and the United States, as well as small-scale gold production at its flagship property, the Blackdome Gold Mine, in south-central B.C. Since 2002 at its Elizabeth Gold Property, 220 kilometres north of Vancouver, Sona has completed four diamond drill programs that have outlined a 206,000-ounce inferred gold resource.
Sona to raise $500,500 for Elizabeth gold property in British Columbia
Sona Resources (TSX-V – SYS, FSE-QS7) has announced that it will raise $500,500 through a private placement for further exploration at the company's Elizabeth gold property in south-central British Columbia.
The company will sell up to 770,000 flow-through units at a price of $0.65 per unit.
Each unit will consist of one flow-through common share and one warrant, with each warrant good for one additional common share of the company at a price of $1.00 in the first 12 months after closing, and $1.25 for the remaining 12-month period after which the deal expires.
Last week, the company announced that the 3,000 metre surface diamond drilling exploration program that began in early August at the Elizabeth property was on track, with planned underground work scheduled to take place this fall.
This work is meant to increase the confidence in the gold resource at the Elizabeth project, and to move it from the inferred category to the measured and indicated categories, said Sona.
The property has an inferred gold resource of 522,900 tonnes, grading 12.3g Au/t and containing 206,100 ounces of gold.
Since its inception in 1990, Sona has engaged in exploration activities at its mineral properties in Canada and the United States, as well as small-scale gold production at its flagship property, the 100% owned Blackdome Gold Mine in south-central British Columbia.
The company was up 9% to $0.74 as of 1:52 pm ET on Thursday.
