Toronto-listed Pronto Explorations has entered into an agreement for a private placement of $1.4 million of flow-through shares of the company’s common shares. The proceeds will be directed to the company’s four projects.
Assays are being awaited on 10 holes completed by partner and operator Inco Ltd. on the Solomon Pillars gold bet in the Geraldton- Beardmore area of Ontario.
At the Long Lake gold prospect in Manitoba, assays are awaited on 33 holes completed by partner and operator Esso Minerals.
Assays are also awaited on the hole drilled to a depth of 3,035 ft by operator Inco on the magnesium and potash prospect in Newfoundland.
And drilling is still in progress at the Casey Mountain property near Colbalt, Ont.
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