- Sitka Gold (CSE:SIG), a Canadian gold stock, is announcing a $1.2 million non-brokered private placement
- The company will allocate proceeds to exploration work on its 1.3-million-ounce RC Gold project in Yukon Territory
- A resource expansion diamond drilling program is now underway
- Sitka Gold is a mineral exploration company focused on gold, silver and copper
- The Sitka Gold stock (CSE:SIG) last traded at $0.10 per share
Sitka Gold (CSE:SIG), a Canadian gold stock, is announcing a $1.2 million non-brokered private placement.
The company will allocate proceeds to exploration work on its RC Gold project in Yukon Territory. The project’s district-scale, 376 square kilometre land package contains multiple intrusion-related gold deposit targets.
Pit-constrained initial inferred mineral resources are estimated at 1,340,000 ounces of gold contained in two near/on-surface zones: the Blackjack and Eiger gold deposits.
A resource expansion diamond drilling program is currently underway.
The financing will involve flow-through units priced at $0.11.
Each unit consists of one flow-through common share and one-half of one common share purchase warrant.
Each warrant entitles the holder to purchase one non-flow-through common share for $0.15 for 24 months from the date of issuance.
All securities issued are subject to a statutory hold period of four months and a day from the date of issuance.
Canaccord Genuity is acting as financial advisor for the offering.
Sitka Gold is a mineral exploration company focused on gold, silver and copper. It holds an option to acquire a 100 per cent interest in the RC, Barney Ridge, Clear Creek and OGI properties in the Yukon and the Burro Creek Gold property in Arizona. It owns a 100 per cent interest in the Alpha Gold property in Nevada, the Mahtin Gold property in the Yukon and the Coppermine River project in Nunavut.
The Canadian gold stock (CSE:SIG) last traded at $0.10 per share.
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