- Heritage Mining (HML) opened a non-brokered private placement for C$1.5 million
- The company will focus on drilling three priority targets with economic gold-silver grades at the surface this spring and summer
- Recent results from channel sampling returned high grades at the end of November 2022
- The company intends to close the offering before May 5
- Heritage Mining (HML) is up 6.25 per cent, trading at C$0.09 at close
Heritage Mining (HML) opened a non-brokered private placement for C$1.5 million.
The company is issuing up flow-through units of the company at $0.10 per FT unit and common shares at $0.09 per unit.
Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each FT unit consists of one common share, each of which qualifies as a “flow-through share”, and one warrant.
Each warrant entitles the holder to acquire one common share at an exercise price of $0.15 per warrant share, 36 months following the closing date.
Proceeds will be used in advancing its flagship Drayton-Black Lakehigh-grade gold-silver-base metal project in northwestern Ontario.
The company will focus on drilling three priority targets with economic gold-silver grades at the surface this spring and summer. Recent results from channel sampling returned high grades at the end of November 2022.
Additionally, the company received a C$200,000 exploration grant from the Ministry of Northern Development under the Ontario Junior Exploration Program for its project.
They received the maximum amount available for a junior mining company.
The Drayton-Black project’s historic data includes more than 100 years of exploration data. Heritage Mining received an exploration permit for the project in March 2023, ahead of schedule.
President and CEO Peter Schloo, feels the early approval is a result of the company’s well-maintained relationships with the Ministry of Mines and nearby First Nations communities.
The company intends to close the offering before May 5.
About Heritage Mining
Heritage Mining is a Vancouver-based Canadian mineral exploration company advancing its two high-grade gold-silver-copper projects in Northwestern Ontario. The Drayton-Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt.
Heritage Mining (HML) is up 6.25 per cent, trading at C$0.09 at close.
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