- Tulmeen Resources Corporation announced a private placement of up to 10,000,000 units of the company at a price of C$0.10 unit for C$1,000,000
- Tulmeen owns a 100 per cent stake in its West Princeton Copper-Gold Project in Southern British Columbia
- There is a large, high-intensity magnetic anomaly in the central and southern portions of the property
- Nearby active exploration projects include Kodiak Copper, Whipsaw, and Miner Mountain
- Tulmeen Resources is a junior mineral exploration company that was formed in 2021 to advance the West Princeton Cu-Au Property
Tulmeen Resources announced a private placement of up to 10,000,000 units for gross proceeds of up to C$1,000,000.
Each unit will consist of one common share and one common share purchase warrant, with each warrant entitling the holder to acquire one common share of the company at C$0.30.
This will take place for a period of 24 months following the closing date.
Tulmeen owns a 100 per cent stake in its West Princeton Copper-Gold Project in Southern British Columbia. The consolidated property comprises around 28,560 hectares and has an estimated previous exploration expenditure of $4 million.
Tulmeen is intending to use the proceeds from the financing for general corporate purposes and working capital.
They plan to continue the exploration and evaluation for potential drill targets in outlined areas including the “Trojan”, “The Condor Corridor” and “Lamont Ridge.”
Previous findings have prioritized exploration areas and indicated a large, high-intensity magnetic anomaly in the central and southern portions of the property.
The area is approximately 12.6 km east-west by 10.8 km north-south. It is similar to the magnetic anomaly associated with the Copper Mountain Mine area, located approximately 10 km due east.
Rick Walker, CEO of Tulmeen stated, “The ultimate goal of property advancement is the identification and delineation of a Cu-Au deposit sufficient to justify having a Preliminary Feasibility Study completed.”
The West Princeton Project is west of Highway 3 south of Princeton with maintained logging roads in a low-risk jurisdiction. Nearby active exploration projects include Kodiak Copper, Whipsaw, and Miner Mountain.
TulmeenĀ Resources Corporation is a Vancouver-based junior mineral exploration company that was formed in 2021 to advance the West Princeton Cu-Au Property.
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