Verdstone raises funds for drilling

Drilling is expected to begin shortly on the Newton Hill gold-copper property under option to Verdstone Gold (VSE).

The company recently completed a unit offering consisting of 600,000 shares and 1.2 million share purchase warrants at 46 cents per unit to net $255,000. Verdstone is earning a 50% interest in the property from Rea Gold (TSE) by completing $500,000 in exploration.

The property is southwest of Williams Lake, B.C., about 20 miles north of the Fish Lake deposit owned by Taseko Mines and Cominco Ltd., and contains a large gold-copper anomaly measuring 3,500×3,500 ft.

Trenching in 1990 and 1991 returned gold assays of up to 0.13 oz. gold per ton and copper assays of up to 0.26%. Significant results over wider intervals averaged about 0.012 oz. for gold and 0.10% for copper.