A new flow-through financing worth $4 million has been arranged by Wrightbar Mines, with Imex 1987 Ltd. Partnership, for exploration work on the company’s Bourlamaque property in northwestern Quebec.
By the end of September, Wrightbar says it had spent about $7.75 million on face and underground exploration on the property.
Conducting the exploration work is Belmoral Mines. Part of the current work program calls for about 40,000 ft of surface and underground drilling.
Wrightbar reports it is also exploring its Puiseaux Twp. property, where $70,000 is earmarked for geophysical and geochemical work.
In addition, the company has negotiated a further flow-through financing of $3.75 million to be used to acquire, through exploration work, a 15% interest in the Broulan Resources property at Timmins, Ont., where Belmoral is the project operator.
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