Siwash drilling resumed

Junior Almaden Minerals (AMM-T) has launched a small drill program with view toward restarting the Siwash gold mine, near Merritt, B.C.

In the 1990s, Siwash produced 51,750 oz. from 18,400 tons of ore. Mining was restricted to the Siwash North structure.

The current, 2,600-metre campaign will focus on the WD vein, parallel to Siwash North. A deep hole drilled last year pulled up 2.15 metres (true width) averaging 19.4 grams gold per ton.

Almaden also is attempting to raise $1.05 million via the private placement of 1.5 million units. A unit consists of a share and a warrant that can be exercised within a year of the deal’s closing at $1.25. The exercise price rises by 25 in each of the following four years.

The deal was to have closed in late August.