Manridge Explorations says it has completed a private placement to r aise a total of $175,000 which it will use to acquire new resource properties, as well as do further work on its silver property in Ontario’s Timiskaming district. The placement was of 1,000,000 common shares carrying 500,000 common share purchase warrants, the latter entitling the holder to buy one additional share at 25 cents a share for one year.
Newly-elected Manridge President H. J. Mockler adds the company has recently optioned a 9- claim property in Strathy Twp., in the Temagami area of Ontario, and is stripping and trenching a mineralized occurrence on the property. Extensive sampling would be followed, if warranted, by diamond drilling, Mr Mockler says.
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