HighGold Mining set to raise C$731,661 on top of C$12M financing as shareholder exercises participation right
It means HighGold will issue 422,925 participation shares to the firm in question for proceeds of around a further C$731,661
Company
CVE:HIGH
HighGold Mining Inc is a mineral exploration company focused on high-grade gold projects located in North America. HighGold’s flagship asset is the high-grade Johnson Tract Gold (Zn-Cu) Project located in accessible Southcentral Alaska, USA. The company also controls a portfolio of quality gold projects in the greater Timmins gold camp, Ontario, Canada that includes the Munro-Croesus Gold property, which is renowned for its high-grade mineralization, and the large Golden Mile and Golden Perimeter properties. HighGold’s experienced board and senior management team, are committed to creating shareholder value through the discovery process, careful allocation of capital, and environmentally/socially responsible mineral exploration.
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It means HighGold will issue 422,925 participation shares to the firm in question for proceeds of around a further C$731,661
The resource group has struck three separate deals with arm's length vendors to buy a total of 38 claims
A syndicate of underwriters led by Cormack Securities has agreed to buy, on a bought deal basis, 4.63 million shares at C$1.73 a throw
Last year, HighGold generated numerous quality drill targets within an 800-meter radius of the high-grade JT deposit mineral resource
In addition to the move to the top-tier of the OTC markets, HighGold said it qualified for DTC eligibility to allow for easier US trading
The report showed a higher confidence indicated resource of 2.14 million tonnes grading 10.93 grams per ton gold equivalent for 750,000 ounces of gold equivalent
Archive
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
Around 2,500 metres in 12 diamond drill holes were completed at the Munro-Croesus and Golden Mile properties
The resource estimate positions the Johnson Tract deposit as one of the highest-grade undeveloped gold projects in North America
HighGold says it aims to restart operations and complete the remainder of the work later this year
Labelle has been dealing with mineral exploration and development for 25 years
The company is focused on the high-grade Johnson Tract Gold (zinc, copper) project in south-central Alaska
Archive
A glance at some of the day's highlights from the Proactive Investors US and Canada newswires
The findings come from surface rock sampling last year and historic drill core re-sampling from the Difficult Creek prospect
The resource group's primary stock exchange listing remains on the TSX Venture exchange in Toronto
Today's reported assays come from the last two holes of a completed nine-hole drill program
Last month, it unveiled assays for the first two holes of a nine-hole program. Today, it posted five
Its flagship asset is Johnson Tract - a gold, zinc, copper property near tidewater, 125 miles (200 km) southwest of Anchorage in Alaska
The firm said that the assays show exceptional widths of continuous high-grade gold and base metal mineralization have been intersected
The company is a spin-out of the gold assets of Constantine Resources and started trading on Toronto's venture exchange on September 23