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Provider: Reuters Investment Profile
Provider: GlobalData
Provider: GlobalData
Provider: GlobalData

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Tamerlane Ventures Inc Announces up to $1.5 Million Flow-Through Private Placement

Thursday, 20 Dec 2012 09:00am EST 

Tamerlane Ventures Inc announces that, subject to regulatory approval, the Company will complete, on a best efforts basis, a non-brokered flow through private placement for gross proceeds of up to $1,500,000 comprising up to 30 million flow through shares of the Company at a price of $0.05 per flow through share. All of the securities issued under this flow through private placement and unit offering will be subject to a four-month hold period. The flow through private placement is expected to close by the end of December. The proceeds from the flow through private placement will be used for exploration drilling at the Company's Pine Point zinc-lead project and the Indian Mountain Lake zinc-lead-gold-silver project, both located in the Northwest Territories, Canada. The deepest hole at Indian Mountain Lake intersected 23 meters of 16.7% zinc and 5 opt Ag at a depth of 335 meters with a true width of 15 meters, dipping 65 degrees. The deposit has been compared to the base metal deposits in the Matagami area of Northern Quebec. The property hosts excellent exploration potential as it is open along strike. 

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