The 555,556 shares issued today completes the first tranche of a $34 million capital raise involving the issue of approximately 37.7 million shares at a share price of $0.90.
The first step is to complete a CSAMT/IP survey of the Poker Flats property, in addition, Spartan will establish immediate drill targets on the identified areas at Poker Flats.
The results from the the Burkina Faso-based project show an initial resource estimate of 617,000 tonnes of indicated resource grading 17.8 grams per tonne gold containing an estimated 354,000 ounces of gold.
The company has commenced a drilling program of up to 1500 meters, on the MARCE occurrence. The planned drill program will test the extent of the MARCE occurrence and conductor to depth and along strike.
Greenland Minerals and Energy Ltd (ASX:GGG) is an exploration and development company focused on developing high-quality mineral projects in Greenland.
South American Silver Corp announces an update on its plan of action after receiving today official notice of a Nationalization Decree of its Malku Khota silver-indium project in Bolivia.
Lumina intersects include 730 meters grading 0.57% copper equivalent in 150 meter step out hole to the northeast-includes 156 meters grading 0.90% copper equivalent.
The report outlines a Q2 2012 net loss of $30.9 million, or $0.92 per share, including the previously announced $33.2 million write-down on the Francoeur Mine assets, versus Q2 2011 net earnings of $5.0 million, or $0.16 per share.
The company announced that pursuant to the terms of the royalty purchase agreement, Strategic will sell its royalty interests in three advanced mineral projects to 8248567 Canada Limited for up to US$36 million.