Red Lake gold explorer strikes it rich in exploration financing.

 
FREE EXCERPT

The team at Great Bear Resources is back at work exploring for gold in Red Lake with more money in their jeans.

The Vancouver junior miner announced July 3 that it's raised $10.9 million in flow-through shares for its drilling program at its Dixie Gold Project.

Strong investor interest in the high-grade 9,140-hectare property ballooned the company's offering in mid-June from $5.5 million to $8.2 million and to its final oversubscribed amount at closing.

"Interest in this placement was overwhelming, and we've successfully raised double the funding we were initially looking for," said Great Bear Resources president-CEO Chris Taylor in a news release.

"We'd like to sincerely thank our new and existing shareholders for their continued interest in our company's success and growth, and we look forward to delivering a wealth of new exploration results from our flagship Dixie project throughout 2019 and 2020."

The Dixie Property is 24 kilometres south of the community of Red Lake, not far off Highway 105...

To continue reading

FREE SIGN UP