Minaurum to ramp up exploration at Mexico project
Minaurum Gold plans to ramp up exploration at its Alamos silver project in Mexico following a financing deal, the company said in a statement on Monday.
The company signed an agreement with Clarus Securities on behalf of a syndicate of agents to raise up to Cdn$5.0mn (US$3.5mn) through an offering of up to 12.5mn units.
Minaurum is following up phase 1 drilling results which demonstrated district scale potential for veins at Alamos, in Sonora state, the firm said previously.
The company acquired historical data including mine maps, sections and results of 40 drill holes in February.
Highlights of the historical drill results included 4.6m at 2,838g/t silver and 11.3m at 785g/t silver.
Toronto-based Minaurum also has the Vuelcos del Destino, Aurifero and Adelita projects and other properties in Mexico.
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