Junior Laramide Resources (LAM-T) will use proceeds of $375,000 from a private placement to explore the Bilbao project in Mexico’s Zacatecas state.
The company says mapping and gravity surveying have enabled it to define three drill targets. The program is aimed at seeking out base metal deposits similar to those being explored by other companies in the region. All three targets are adjacent to surface mineralization in areas explored and developed in the past. An induced-polarization survey is planned.
Meanwhile, Laramide and joint-venture partner Nucanolan Resources (NCRL-C) are preparing to drill the Lara polymetallic prospect on Vancouver Island, B.C.
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