Detector funds exploration program

Detector Resources (ASE) has raised $332,300 from two private placements. The first placement, comprising 626,875 shares at 16 cents each, garnered the company $100,300; the second, comprising 1.2 million flow-through shares at 20 cents, yielded $232,000.

Proceeds will be used to drill-test several targets on the CamKing gold property, which adjoins Toronto-listed Royal Oak Mines’ Matachewan property. Detector can earn a half interest in the Ontario project from Freewest Resources (ME) by spending $75,000 over two years.

Proceeds will also be used to explore the Abitibi Phoenix property in Ontario.