In addition to a previously announced flow-through financing of $540,000, Sunmist Energy has secured $600,000, at 65 cents per share, from First Exploration Fund l987 and Co.
The amount will be spent on the exploration of the Calgary-based company’s Eric Lake gold property in the Northwest Territories in l987. The property comprises approximately 50,000 acres in one continuous block.
Mobilization was started in the first week of April and drilling was expected to commence the first week of May. The exploration program on this property is expected to carry through until September, l987.
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