RE:NEWS
Tajiri Resources; Non-Brokered Placement;
Phase II Drilling at the Kaburi PL in Q2 2014, and OGK Copper-Gold Property Option Agreement
VANCOUVER, BRITISH COLUMBIA - (April, 16
th, 2014) - Tajiri Resources Corp.
(the "Company") (TSX VENTURE: TAJ) reports that it has opened a non-brokered private placement offering of up to 10,000,000 units in the capital of the Company at a deemed price of five cents per unit. Each unit will consist of one common share and one common share purchase warrant entitling the holder to purchase an additional common share at a price of ten cents per whole warrant for a period of 24 months from the closing of the offering. Funds will be used to further gold exploration at the 100% owned Kaburi PL Gold Property, Guyana, South America, Company due diligence on potential acquisitions, and for general working capital purposes. Finder’s Fees within Exchange regulations may be paid on additional portions of the offering should it exceed the targeted amount and closing is subject to approval by the TSX Venture Exchange.
Further to the above. the Company confirms it is in final stages of planning for 1,500 metres of additional Reverse Circulation ("RC") Drilling at the Kaburi PL Gold Property, Guyana, South America. The program will focus on targets associated with a new, active, alluvial mining operation that is located outside of the Company’s original 2012 Kaburi exploration grid. During reconnaissance visits to the Kaburi Property, Company agents confirmed by way of the verbal correspondence with the mine manager that the operation had produced 150 ounces of gold in its first two days of hydraulic mining operations using a simple sluice box for recovery. As a comparable, the Company’s 2013 gold discovery at Alwyn’s Pit, was located within similar alluvial operations where production was reported at approximately 40 ounces of gold over the same timeframe.
In keeping with the gold exploration model developed by the Company through all previous work, active alluvial mining operations at Kaburi serve as highly prospective geochemical indicators of near-surface lode gold mineralization; therefore, the Company is extremely encouraged by these latest findings and is determined to test this new area (as yet unexplored by the Phase I grid) through RC drilling.. Initial mineral exploration work on the Kuburi PL focused on a grid covering approximately 25% of the project area, and culminated in the discovery of a mineralized gold system with a strike of over 350 metres and width of at least 120 metres-which remains open in all directions. These additional alluvial operations on the Kaburi PL are highly prospective to the potential for additional zones of lode gold mineralization being present within the tenement boundaries with the proposed program intended to demonstrate the Kaburi PL’s gold mineralization, project-wide, and underscore that the property as an asset of major value in relation to the mine development currently underway in the immediate area.
....More on Sedar.com