Zephyr Minerals Ltd: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Zephyr Minerals Ltd Closes Private Placement And Commences Drill Program
Zephyr Minerals Ltd announced that it has closed the previously announced private placement to raise $452,009 through the issuance of 2,511,166 units at a price of $0.18 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at an exercise price of $0.25 per common share at any time on or before the 12-month anniversary of the closing of the offering. Zephyr plans to commence a diamond drill program on its 100% owned Dawson Gold Property located in Colorado, USA by mid-March. The drill program on the Windy Gulch segment of the Dawson Gold Property is expected to take two to four weeks to complete and will include up to 15 holes, totaling approximately 500 metres. The Windy Gulch segment was the target of a limited number diamond drill holes by previous explorers between 1982 and 1991. This previous drilling outlined a high grade gold resource that was at and near surface. The current drill program is designed to expand and better define this near surface gold resource.
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