Business
CARLIN GOLD CORPORATION ANNOUNCES $359,500 FINANCING CLOSED
CARLIN GOLD CORPORATION ANNOUNCES $359,500 FINANCING CLOSED
About this update from Carlin Gold Corporation
[{"type":"text","content":"\nCARLIN GOLD CORPORATION ANNOUNCES $359,500 FINANCING CLOSED\n\n\n Nov. 23, 2010 (TheNewswire.ca) -- Surrey, British Columbia - Carlin Gold Corporation (TSXV:CGD) (TSX Venture, CGD), (\"Carlin\" or the \"Company\") is pleased to announce that its previously announced $350,000 non-brokered private placement has closed. The private placement was over-subscribed and the Company has issued 7,190,000 common shares at the price of $0.05 per share for proceeds of $359,500.The shares are subject to a four-month plus one-day hold period from November 22, 2010 in accordance with applicable securities laws.The proceeds from the sale of the shares will be used for general corporate purposes and mineral property expenditures.About CarlinCarlin is a junior resource company focused on gold exploration. The Company currently controls three resource properties in Nevada and just acquired a 50% interest in 1,500 claims in the Mayo Mining District in the Yukon Territory, Canada.Yukon Joint VentureCarlin and Constantine Metal Resources Ltd. (TSXV:CEM) recently announced a 50/50 Joint Venture and the acquisition of 1,500 mineral claims in the Yukon Territory, Canada. These claims are distributed in 6 blocks that total 31,350 hectares (121 square miles). These targeted areas were selected to explore for ‘Carlin-type' mineralization and display regional, geochemical stream silt anomalies with elevated values in gold, arsenic, antimony and mercury, located primarily in lower Paleozoic strata with associated carbonates. Geochemical silt values in excess of 300 ppb gold and 3,000 ppm arsenic are present on some of the staked claims.The Carlin-Constantine JV is planning intensive silt, soil and rock sampling programs as part of the 2011 field season for initial field evaluation of the new claim blocks. Additional acquisitions in the Yukon are being evaluated.Nevada ProjectsCarlin controls a 100% interest in its Nevada properties with potential for ‘Carlin-type' gold deposits.The Cortez Summit project (83 lode claims) is strategically located within the Cortez Gold (OOTC:CRTZF) (TSXV:CUT) trend between the past producing Horse Canyon and Buckhorn gold mines owned by Barrick. Barrick's Cortez Hills project is located 4 miles west of Cortez Summit. When combined with its Pipeline project, Cortez Hills is expected to produce 1,000,000 oz. Au/ye...