Current market conditions have prevented
Instead, Wayside has arranged a financing of 2 million units priced at 50 apiece.
Proceeds will be used to continue exploration on the Bonanza Ledge discovery at the Cariboo gold project in north-central British Columbia. After completing a series of infill holes designed to test the continuity of the bonanza-grade mineralization, as well as determine the zone’s geometry, Wayside has begun to step out along strike to the southeast. At present, hole 35 is being drilled 170 ft. southeast of the pad site from where holes 13-15 were drilled. Results for holes 30-34 are pending.
Wayside has identified a series of stacked mineral zones, with localized bonanza-grade lenses occurring in the footwall of the BC vein. The mineralized zones occur in a broad area of muscovite-carbonate alteration containing auriferous pyrite mineralization with grey-blue quartz-dolomite-ankerite stringers.
Wayside plans geochemical and geophysical surveys along the 2-km trend of the BC vein. Prospecting and sampling are under way to the northwest, along a trend of rocks exhibiting alteration and mineralization similar to Bonanza Ledge.
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