A $5-million drill program is under way on Wheaton River Mineral’s (TSE) Golden Bear property in northwestern British Columbia.
Underground diamond drilling is attempting to delineate the Grizzly deposit, while the Ursa deposit is being drilled from surface. Drilling of other surface targets will follow.
To help finance the program, Wheaton has completed a private placement of 432,000 special warrants priced at $1.25 each, for total proceeds of $540,000. Each flow-through special warrant entitles the holder to acquire one flow-through common share.
The company will also complete a private placement of 768,000 flow-through common shares, for proceeds of $964,000.
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