The Lada program is being operated by Minefinders Corp. (VSE) which has an option to earn a 50% interest in the 57-claim property from Greenstone.
The drill program will test east-west trending geophysical (IP) anoma lies related to fault structures. The drilling will also follow up several subeconomic gold intersections from a 1988 reconnaissance program.
Elsewhere, Greenstone has received regulatory approval for a $6.1 million rights offering to its shareholders of record as of Nov 20. Proceeds are to be used for general corporate purposes and to fund ongoing exploration on the company’s projects in British Columbia, Quebec, Columbia and Costa Rica.
Claridge Investments, which holds 14.3% of Greenstone’s 8.97 million outstanding shares, has agreed to exercise all rights it receives to a maximum of $4 million.
A 6,000-ft diamond drilling program is under way on Greenstone Resource’s (TSE) Lada property, north of the Joe Mann mine in the Chibougamau mining district of northwestern Quebec.
The Lada program is being operated by Minefinders Corp. (VSE) which has an option to earn a 50% interest in the 57-claim property from Greenstone. The drill program will test east-west trending geophysical (IP) anomalies related to fault structures. The drilling will also follow up several subeconomic gold intersections from a 1988 reconnaissance program.
Elsewhere, Greenstone has received regulatory approval for a $6.1 million rights offering to its shareholders of record as of Nov 20. Proceeds are to be used for general corporate purposes and to fund ongoing exploration on the company’s projects in British Columbia, Quebec, Columbia and Costa Rica.
Claridge Investments, which holds 14.3% of Greenstone’s 8.97 million outstanding shares, has agreed to exercise all rights it receives to a maximum of $4 million.
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