Having resolved their issues, the peaceful blockade involving members of the local Innu community of Scheffervile has been removed to allow access to mining and exploration areas.
With a historical resource of 888,000 tonnes of mineralized material at a grade of 9.4 grams per tonne, recent results show 6.0 g/t Au over 3 metres from 88 to 91 metres.
Effective immediately, Southern Legacy has appointed a new interim CEO and CFO as well as made decisions to expand the company's market access into Peru.
On a private placement basis, 9,250,000 common shares are to be issued at a price of $1.03 per flow-through share for aggregate gross proceeds of $9,527,500.