A recent private placement enables Cazador Explorations to finish infill drilling on the BT gold deposit near Lynn Lake, Man.
The placement totals 571,430 flow-through common shares at 28 cents each plus 2-year warrants to buy an additional 571,430 non-flow-through shares at 30 cents each in the first year and 32 cents in the second.
BT is part of the Keystone project, in which Cazador can earn a 50% interest from DCC Equities by spending $10 million.
A positive feasibility on BT recommends it be brought into production at about 525,000 tonnes per year (T.N.M. Mar. 29/93).
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