TORONTO, March 25 /CNW/ - Corona Gold Corporation (CRG-TSX) announces that it has closed a private placement of 500,000 "flow-through" common shares at a price of $0.75 per share to raise gross proceeds of $375,000. The proceeds of the flow-through financing will be used to fund Corona's share of a 2008 work program on the Sugar Zone property located in the Sault Ste. Marie Mining Division of Ontario. Corona has a 51% joint venture interest in the Sugar Zone property with the balance being held by Harte Gold Corp. Phase I of the work program includes an airborne survey to be flown over the entire property, including new claims staked in 2006. The Phase II work program to be completed later this year will include ground truthing and possible drilling of targets identified by the airborne survey and drilling of targets identified as being extensions of the Sugar Zone.
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