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$420,000/3,500,000 Unit Flow-Through Private Placement @ $0.12 per Unit / Yukon Drill Notification Allowance
(via TheNewswire) Vancouver, BC. / TheNewswire / June 1, 2017 - CMC Metals Ltd. - (the ...
About this update from Walker Lane Resources Ltd.
[{"type":"text","content":"$420,000/3,500,000 Unit Flow-Through Private Placement @ $0.12 per Unit / Yukon Drill Notification Allowance(via TheNewswire)\n \n \nVancouver, BC. / TheNewswire / June 1, 2017 - CMC Metals Ltd. - (the \"Company\") - is pleased to announce that its Class 1 Notification of planned drilling activities at the Company's 100% owned Silver Hart silver-zinc-lead deposit has received Notice that the program is Allowed to Proceed. The Allowance has been granted by the Mineral Resources Branch of the Yukon Department of Energy, Mines and Resources. The Department has specifically allowed for the use of a low-impact (24.8 kPa ground pressure) diesel hydraulic track mounted core drill rig, subject to certain track imprint remediation by the Company. The Allowance permits the Company to drill all of its planned holes, to include up to 1,000m of confirmatory and exploration drilling. The Company intends near-term mobilization of the drill rig, and targets the completion of field-based work by June 30th. \n\n \n \n\"We are pleased to be returning to work at Silver Hart, where the Company previously delineated a number of high-grade silver-lead-zinc showings that historically produced certain high-value concentrates. Prior to ceasing activity in 2013, the Company recovered three bulk samples totalling 513.5 tonnes: these were sold (2011, 2012 and 2013) for total proceeds of $962,286 USD,\" said Ian Graham, CEO.\n\n \n \nThe Company further wishes to announce that it has agreed to issue up to 3,500,000 Units at $0.12 per unit, each unit consisting of one flow-through common share and one transferable share purchase warrant. Each transferrable warrant will be exercisable into one additional, non-flow-through common share at $0.12 per share for a one-year period. The warrants granted pursuant to this placement will have an acceleration clause on exercise, for exercise to a 30-day period from the seventh calendar day after the Company's shares have closed with a trading price of $0.20 per share for a consecutive ten-day period. The proceeds of this private placement will be used to pay for the Company's drill program at the Silver Hart Property, Yukon. A finder's fee may be payable in relation to this private placement. This transaction is subject to TSX Venture Exchange approval.\n\n \n \nThe Company further wishes to announce that it will not be ...