• Treasury Metals (TSX:TML) has announced a private placement for up to $4 million so it can advance the Goliath Gold Complex
  • With the funds, the company will use it for exploration and development activities including permitting, community consultations and technical studies to support these activities
  • The offering is expected to close by Dec. 14
  • Shares of Treasury Metals are unchanged at C$0.145

Treasury Metals (TSX:TML) has announced a private placement for up to $4 million so it can advance the Goliath Gold Complex in Ontario.

The company stated in a news release that the funds will be used for exploration and development activities, including permitting, community consultations and technical studies to support these activities.

The offering will include up to 28.6 million units at a price of 0.14 per share, while each unit will consist of one common share in the capital of the company and one-half of one common share purchase warrant.

It is expected that the offering will close by Dec. 14.

The Goliath Gold Complex includes a prospective 65-kilometre trend across a 330-square-kilometre land package. Under the land package are three distinct projects in the Wabigoon-Greenstone Belt in northwestern Ontario.

Notably, the company’s land package is adjacent to the Trans-Canada highway that is midway between Thunder Bay, Ont., and Winnipeg, Manitoba.

As it currently stands, the project is at the exploration and development stage. It also has resources of 112,400 ounces of measured and indicated gold and 352,200 ounces of measured and indicated silver as well as 75,000 ounces of inferred gold and 92,000 ounces of inferred silver.

Treasury Metals is a gold-focused company with assets in Canada, including its Goliath Gold Complex.

Shares of Treasury Metals are unchanged at C$0.145.

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