Recently listed Candor Ventures (CND-V) has raised $270,000 for exploration on its Ontario properties, with just over half coming from an issue of 1 million flow-through shares.
Candor is issuing 1 million flow-through shares at 15 and 1 million common shares at 12. The common share financing will cover general corporate expenses.
The flow-through shares are to finance work on two land packages in Ontario. The first is a block of 45 claim units in Madoc Twp. in eastern Ontario, which Candor plans to explore for iron-oxide copper-gold mineralization (the “Olympic Dam” model).
The second project is the Twist Lake property in Adrian Twp., where a number of untested electromagnetic anomalies are known. The property is underlain by a felsic volcanic series and Candor will be exploring for base-metal sulphide deposits.
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