Jonpol obtains Garrison funding

Toronto-based junior Jonpol Explorations (TSE) recently raised $150,000 for exploration on its Garrison Twp. joint venture with T&H Resources (TSE) by way of a private placement of 375,000 treasury shares priced at 40 each.

Jones Gable & Co. of Toronto is acting as underwriter of the placement which provides the joint venture with about 50% of $300,000 it expects to spend at Garrison Twp. by year-end.

Jonpol and T&H Resources are eligible to receive $161,700 under the Ontario Mineral Incentive Program which represents the other half of the funds to be spent at the northern Ontario project.

Exploration will focus on a faulted extension of the Main zone at depth. So far the companies have outlined about one million tons of 0.18 oz. gold per ton to a depth of about 1,000 ft.

But as very little drilling has been done below the 1,000-ft. horizon, drill crews have started a 2,800-ft. hole and expect

to drill four more before Christmas.