https://www.engineeringnews.co.za

White Gold raises C$6m for Yukon exploration

10th June 2020

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

TSX-V-listed White Gold has closed a private placement, raising C$6-million.

The company placed about 6.6-million common shares at C$0.09 apiece.

Upon closing, the company will have a net working capital of about C$9-million.

TSX-listed Agnico Eagle Mines, as an existing shareholder of White Gold, will maintain its 17.1% interest in the company following the offering, while TSX-listed Kinross will also maintain its 17.1% interest in the company.

The proceeds will help kickstart the company’s 2020 exploration programme, which is set to start in the coming weeks.

The programme will involve a diamond drill programme at the Ryan’s Surpise target, which will test for strike and down-dip extensions of mineralisation encountered in a 2019 diamond drilling programme. The target is located 2 km along strike from White Gold's flagship Golden Saddle and Arc deposits.

The exploration programme will also test, through diamond drilling, the Titan target for high-grade mineralisation encountered in 2019 rotary air blast (RAB) drilling.

Another 25 RAB holes will be drilled to test targets on the White Gold, Hen and JP Ross properties; while some extensive regional exploration work on the Betty, Nolan, Bonanza and Tea properties will include geological mapping, soil sampling, ultrahigh-resolution drone imagery and ground magnetics.

White Gold owns a portfolio of 21 111 quartz claims across 33 properties covering more than 420 000 ha, in Yukon, Canada.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.077 0.726s - 140pq - 2rq
Subscribe Now