Foran upsizes placement to $263m for Saskatchewan projects
The proceeds will primarily go to the McIlvenna Bay copper and Bigstone copper-zinc projects.
Shares of Vancouver-based Gold Standard Corp. added 16.7%, hitting 70 cents on Thursday after drilling results at its North Bullion gold deposit in Carlin Trend, Nevada confirmed existence of a high-grade gold zone.
The company’s Thursday press release also indicates that the above-one-gram mineralized envelope surrounding the high-grade zone is larger than expected:
“We are increasingly confident that the North Bullion gold deposit represents a major Carlin-style discovery within the large, prospective district-scale, multiple target setting of our Railroad project. We continue to explore for and expand mineralization at North Bullion. Discovery of uniformly thick, high grade mineralization in the lower breccia zone is a very positive development and lends favorably to the discovery of similar zones and additional high grade extensions to what we have discovered to date,” said Dave Mathewson, Gold Standard’s Vice President of Exploration.
Gold Standard began its latest stage of definition drilling at North Bullion in February, 2013. The deposit was discovered in late 2010.
