Labrador Gold will use the finds primarily for its exploration at the Kingsway gold exploration project.

Copper miners are taking another look at extracting value from their waste rock dumps thanks to the record recent copper price rally and the application of new technology.

This new discovery could have major positive impacts on the project, in particular on the next updated mineral resource estimate, company says.

The proceeds will be used to fund work at the copper-gold Red Chris mine in British Columbia and repay short-term debt.

Eric Sprott was the leading investor in the C$8 million placement.

The International Energy Agency estimates global demand for petroleum products won’t be back to pre-pandemic levels until 2023 and may never return to “normal.”

This is a new discovery located 23 km southwest of the company’s Crawford nickel-cobalt project in Ontario’s Timmins-Cochrane camp.

The milestone was reached following the completion of carbon purchases to offset emissions from 10 years of exploration.