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1911 GOLD PROVIDES STRATEGIC UPDATE AND ANNOUNCES NON-BROKERED PRIVATE PLACEMENT WITH LEAD ORDER FROM ERIC SPROTT
1911 GOLD PROVIDES STRATEGIC UPDATE AND ANNOUNCES NON-BROKERED PRIVATE PLACEMENT WITH LEAD ORDER ...
About this update from 1911 Gold Corp.
[{"type":"text","content":"\n \n \n \n 1911 GOLD PROVIDES STRATEGIC UPDATE AND ANNOUNCES NON-BROKERED PRIVATE PLACEMENT WITH LEAD ORDER FROM ERIC SPROTT\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Dec. 5, 2023\n \n \n /CNW/ -\n \n 1911 Gold Corporation\n \n (\"\n \n 1911 Gold\n \n \" or the \"\n \n Company\n \n \") (TSXV: AUMB) is pleased to provide an update on corporate strategy on the near- and long-term plans for the Rice Lake property, including the True North underground mine. The Company also plans to complete a financing to support this strategy, by way of a non-brokered private placement for aggregate proceeds of up to\n \n $3,500,000\n \n (the \"Offering\"), with a\n \n lead investment from\n \n Eric Sprott\n \n \n .\n \n \n \n \n \n \n \n \n \n \n Strategy Highlights\n \n \n \n \n \n Complete a detailed review of the current National Instrument (\"NI\") 43-101 resource for the True North underground mine, currently based on\n \n US$1,400\n \n per ounce gold.\n \n \n \n \n Review additional areas of gold mineralization outlined in historical drilling at the True North underground mine which have significant additional resource potential accessible from existing infrastructure above the current resources and reserves,\n \n \n \n \n Conduct a comprehensive review of the resource potential of historic resources and past producers on the property (including the\n \n Central Manitoba\n \n and Ogama Rockland projects), including compilation of outstanding assay results from the 2022 drill program.\n \n \n \n \n \n Gary O'Connor\n \n , former President and Chief Executive Officer (\"CEO\") of Moneta Gold Inc. and an experienced geologist with over 35 years in the industry, has joined 1911 Gold as a key technical advisor to assist in executing this strategy.\n \n \n \n \n \n Shaun Heinrichs\n \n , President, and CEO commented: \"We have worked diligently during 2023 to develop a longer-term strategy for our Rice Lake property in\n \n Manitoba\n \n . We have leveraged our infrastructure to complete several key tra...