Private placements totalling $5.5 million have been arranged by Vista Mines. The money will be issued in 1987 and 1988 in exchange for Vista flow-through shares which will be taken up by two flow- through share funds.
The company plans to spend $3 million this year on its Bootleg Lake property, located 5 km south of Creighton, Man. The property hosts a small former producing mine, the Rio, which was operated by previous owners. Exploration work has identified two new mineralized zones, the WC-1 and the A.J.
Drilling has defined the WC-1 zone along 600 ft of strike and to a depth of 450 ft. The A.J. has been traced for 300 ft and to a depth of 200 ft.
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