Shoreham to put in infrastructure at Marudi before drill program

Canadian junior Shoreham Resources (TSX-V: SMH) will use the proceeds of a recently launched Cdn$1mn (US$888,692) private placement to upgrade infrastructure at its Marudi gold project in Guyana before starting exploration activities this year, investor relations official Mike Kachanovsky told BNamericas. "It really makes much more sense for the company - from an investment perspective - to put in a mining camp, finish the air strip and build roads before we do a major drilling project," Kachanovsky said. So far the financing has raised Cdn$770,100 from the sale of 2.57mn units at Cdn$0.30/ each. Shoreham has two gold options in Guyana, Marudi and Potaro. The company is also developing the Borland Lake gold-silver project in Canada.