A private placement will enable Altavista Mines (ME) to develop the Santa Anna gold property in northwestern Quebec.
The junior raised $500,000 through a private placement of 1 million common shares with 50 investors; the shares were priced at 50 cents each.
The 1,880-hectare Santa Anna will be subjected to a 50-hole program of definition drilling. Bulk sampling has determined that gold grades are sufficiently commercial to warrant open-pit mining and on-site treatment.
Altavista will drill four additional holes to verify nickel content on a 2-km-long contact between two favorable geological units.
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