Two financings are expected to generate $3 million and allow Nuinsco Resources (NWI-T) to accelerate drilling at its wholly owned Rainy River project in northwestern Ontario.
The Toronto-based junior plans to test newly recognized areas of synvolcanic anomalous gold surrounding the No. 17 gold deposit, as well as several new gold-in-till anomalies elsewhere on the property.
At the same time, drilling will attempt to find the source of nickel-copper-cobalt-gold mineralization discovered during previous programs.
Rainy River is about 40 miles from the company’s partially developed Cameron Lake gold deposit.
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