Int’l Curator seeks funds for Crowsnest

International Curator Resources (IC-T) has amended a previously announced private placement; the financing now consists of 1.85 million shares and 1.27 million units priced at 35 cents per share or unit, equivalent to gross proceeds of $1.1 million.

The unit portion of the placement will comprise one flow-through share and half of a non-transferable warrant. One whole warrant will entitle the holder to buy an additional share at 40 cents for one year. A commission equal to 6% of the proceeds raised will be payable to Haywood Securities.

A portion of the net proceeds will be used for an upcoming exploration program on the Crowsnest gold property in southeastern British Columbia. Curator can initially earn a half-interest in the property from Eastfield Resources (ETF-V) by spending $1.6 million on exploration and making cash payments totalling $250,000 over four years. The company can elect to earn an additional 25% interest by paying a further $250,000 and incurring an additional $2 million in exploration expenditures within two years of earning the initial half-interest.

The 4,600-ha Crowsnest property covers several well-defined geochemical gold anomalies. Situated 50 km southeast of Fernie, the land package is underlain by a series of syenite intrusions that have been emplaced in carbonate sedimentary rocks. A regional airborne magnetic anomaly partially coincides with the nest of syenitic intrusions.

Previous sampling outlined two significant gold soil anomalies: the A and B grids. Several other geological targets have yet to be evaluated.

The A grid anomaly partly covers an altered syenitic intrusion, where initial drilling intercepted gold mineralization in narrow, structurally controlled zones.

Curator is focused on the bulk-tonnage potential exhibited by the B grid anomaly, which extends over an area measuring 1,000 by 250 metres. Thirty-five grab samples of mineralized syenite and breccia float returned an average of 8 grams gold per tonne and ran as high as 620 grams. The syenite was found to be magnetite and sulphide-bearing.

An initial $250,000 program of geophysics, mapping and trenching is to begin in June, with drilling expected to follow.