A private placement of flow- through shares has been completed by Coxheath Gold Holdings. The company raised $1.3 million which will fund additional exploration on the Tangier gold property 50 miles northeast of Halifax, N.S.
The funds will expand the underground program on the property which will include driving 300 m of decline ramp by the end of February. A field camp is on site housing 50 employees involved with the project. Excavation of the decline ramp portal is under way, Coxheath says. .N
** Delbridge to spend $350,000 on DeSantis **
Coats-listed Delbridge Mines has raised $350,000 for exploration work on the former-producing DeSantis gold property southwest of Timmins.
A stripping and trenching program is underway with bulk samples to be taken from materials excavated along the main gold- bearing structure, president Robert Onotsky reports.
Additional stripping and blasting will be done on another vein structure located 1 1/4 miles north of the main shaft where a second old shaft has been discovered. Delbridge holds 49 claims in the area.
On a 39-claim property in Homer twp in the Mishibishu area, company crews will carry out a similar program of stripping and trenching.
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