A private placement of 688,750 flow-through shares at 80 cents per share has been completed by Nebex Resources (ASE).
Most of the proceeds from the $551,000 placement will fund exploration on the Northbelt gold property near Yellowknife, N.W.T.
A 5,000-ft. drill program is under way to test the faulted extension of the main ore-bearing shear zone of the nearby Giant gold mine.
In addition, mapping is being carried out and an induced polarization survey is planned on a 2-mile-long shear zone in the northern part of the property. Elsewhere in the Territories, drilling is planned for the Walsh Lake property and surface exploration is ongoing at the Anne Marie and Camsell Lake gold projects.
Exploration is also scheduled for a copper-gold prospect in the southeastern Yukon and a gold target in southern New Brunswick.
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