Business
MINERAL MOUNTAIN ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
MINERAL MOUNTAIN ANNOUNCES NON-BROKERED PRIVATE PLACEMENT Canada NewsWire ...
About this update from Badlands Resources Inc
[{"type":"text","content":"\n \n \n \n MINERAL MOUNTAIN ANNOUNCES NON-BROKERED PRIVATE PLACEMENT\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 April 5, 2022\n \n \n /CNW/ - Mineral Mountain Resources Ltd. (\"\n \n Mineral Mountain\n \n \" or the \"\n \n Company\n \n \") (TSXV: MMV) (OTCQB: MNRLF) (M8M-\n \n FRANKFURT\n \n ) is pleased to announce a non-brokered private placement of up to 5,000,000 units (the \"Units\") at a price of\n \n CDN$0.10\n \n per unit for gross proceeds of up to\n \n CDN$500,000\n \n . Each Unit consists of one common share and one common share purchase warrant (\"Warrant\"). Each Warrant can be exercised for one year at\n \n CDN$0.25\n \n per share.\n \n \n \n \n \n \n \n \n \n The private placement is subject to approval of the TSX Venture Exchange and the securities will be subject to a four-month hold period under Canadian securities laws. Net proceeds from the financing will be used to advance the Standby Mine Gold project and for general working capital.\n \n \n \n About the Standby Mine Gold Target\n \n \n \n All geologic, geophysical and drill results to date suggest a Homestake ledge-type target exists at Standby and is potentially of large scale. Mineral Mountain's goal is to extend the Standby Mine gold mineralization down-plunge through systematic step-out drilling along strike and down-plunge in the Upper Tail to discover an\n \n \n Ore Centroid\n \n \n at depth.\n \n \n Approximately 50,000-60,000 tons of ore were mined historically from the Standby Mine before 1950, mostly from oxidized ores in four large open cuts connected by underground workings to a maximum depth of 130 meters. Historic outcrop surface sampling from the walls and rim of the open cuts averaged\n \n \n 9.1 m\n \n @ 10 g/t Au\n \n with grab samples up to\n \n 38 g/t Au\n \n . A shaft was sunk to the\n \n 130 m\n \n (425- ft) level and underground channel sampling assayed\n \n \n 10.1 m\n \n @ 6.0 g/t Au\n \n . Historical drilling at the Standby Mine consists of\n \n 16,360 m\n \n (53,677 ft) across 45 co...