Net proceeds of $3 million from a recent private placement will be used in part to continue a second-phase of drilling on Consolidated Ramrod Gold’s (VSE) Mina Marta concession near Salamanca, Spain.
This program is focused on a gold-silver-tungsten target where an earlier scout drilling program cut a 30-ft. intersection averaging 0.15 oz. gold per ton and a 9-ft. section averaging 0.45 oz. gold and 0.5% tungsten at a depth of 80 ft.
The funds from the private placement will also be used to recommence drilling on the company’s Valle Imperina gold-silver-copper prospect in Northern Italy, and for administrative overhead and working capital.
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