Equity Silver Mines of Vancouver reports it has entered into an agreement with Nim and Co., Ltd. Partnership — 1987 under which Equity will obtain up to $5 million in exchange for issuing up to 422,704 flow-through common shares.
The funds will be used for an extensive off-property exploration program this year. Focus of the program, which will not be restricted to British Columbia, is an evaluation of precious metal and other mineral prospects.
Further work will be undertaken this year to locate new reserves near Equity’s silver/copper/gold mine in the Houston, B.C., area, where encouraging preliminary results were obtained from drilling activity in the fourth quarter of 1986.
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