St George Mining (ASX: SGQ) has raised $825,000 to accelerate drilling for massive sulphide nickel mineralisation at its East Laverton project in Western Australia.
The funds were raised through a private placement of 7.5 million shares priced at $0.11 shares to sophisticated investors.
The drilling program is an ongoing campaign that is planned to continue into 2014, subject to a
Christmas recess, and will be focused on testing high priority targets.
Preliminary results from initial drilling and the ongoing electromagnetic survey are due soon.
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