The Prospector News

Nevada Exploration Inc. Closes $1.1M Financing

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Nevada Exploration Inc. Closes $1.1M Financing

 

 

 

 

 

Nevada Exploration Inc. (TSX-V:NGE) (OTCQX:NVDEF) is pleased to announce that it has closed, subject to final TSX Venture Exchange approval, a non-brokered private placement, issuing 3,773,100 units at a price of $0.30 per Unit for total gross proceeds of $1,131,930.

 

 

Each Unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at an exercise price of $0.60 for a period of 18 months. All securities issued are subject to a four month plus one-day hold period expiring December 17, 2017.

 

 

Proceeds from the offering will be used to continue NGE’s Scorpion drilling programs at its projects, as well as for general working capital.

 

 

In connection with the Offering, the Company paid finders fees totalling 31,717 Units.

 

 

About Nevada Exploration Inc.

 

 

NGE is an exploration company focused on gold in Nevada. NGE is led by an experienced management team that has been involved with the discovery of more than 30 million ounces of gold in Nevada.

 

 

NGE’s team has spent the last decade integrating the use of hydrogeochemistry (groundwater chemistry) with conventional exploration tools to develop a Nevada-specific regional-scale geochemistry exploration program. With innovative technology, NGE has completed the world’s largest groundwater sampling program for gold exploration, collecting more than 5,000 samples, to evaluate Nevada’s covered basins for new gold exploration targets. To advance follow-up targets, NGE has overcome the high drilling costs that have previously prohibited the wide-spread use of drilling as a prospecting tool by developing its Scorpion Drill Rig, Nevada’s first truck-mounted small-diameter RC drill rig specifically tailored to the drilling conditions in Nevada’s basins (analogous to RAB drilling in other parts of the world).

 

 

By integrating hydrogeochemistry and early-stage low-cost drilling with conventional exploration methods, NGE is generating and advancing a significant portfolio of gold exploration projects in Nevada. NGE and its exploration partners have now drilled more than 18,000 metres on targets defined by its exploration program, and at several projects have discovered new large hydrothermal systems, with spatial extents covering several square kilometres, defined by system-appropriate alteration in bedrock over significant drill intervals (>100 feet) containing widespread low-level gold (>100 ppb) and supporting trace-element lithogeochemistry consistent with the geologic and geochemical footprints of Nevada’s large gold deposits. These are the types of footprints that are associated with multi-million-ounce gold deposits in Nevada, and with these results NGE believes that it has demonstrated the validity of its integrated exploration program to discover and advance new high-quality gold targets in otherwise blind settings.

 

 

By overcoming the challenges and radically reducing the costs of exploring in Nevada’s covered basins, NGE is taking meaningful steps to open this important new search space up for district-scale exploration. NGE’s business model is to create shareholder value by leveraging its properties and technology through generative exploration, joint ventures, and other exploration partnerships.

 

Posted August 17, 2017

Share this news article

MORE or "UNCATEGORIZED"


Alamos Gold Announces Friendly Acquisition of Argonaut Gold

Unlocking Value Through the Creation of One of Canada’s Lar... READ MORE

March 27, 2024

Foremost Lithium Reports Widest Intercept to Date; 32.53 Metres of Spodumene-Bearing Pegmatite at its Zoro Lithium Project in Manitoba, Canada

Highlights Include: Drill hole FL 24-009 intersected 32.53 metres... READ MORE

March 27, 2024

WESTERN COPPER AND GOLD ANNOUNCES METALLURGICAL PROGRAM AND ASSOCIATED DRILL RESULTS

Western Copper and Gold Corporation (TSX: WRN) (NYSE American: WR... READ MORE

March 27, 2024

Endeavour Reports Strong FY-2023 Results

ENDEAVOUR REPORTS STRONG FY-2023 RESULTS Production of 1.1Moz at AISC of... READ MORE

March 27, 2024

Orezone Reports 2023 Year-end and Q4 Results, and Provides 2024 Guidance

Orezone Gold Corporation (TSX: ORE) (OTCQX: ORZCF) reported its o... READ MORE

March 27, 2024

Copyright 2024 The Prospector News