RE:Magnum raises non-flow-through financing to $500,000Been watching this gold play for a long time, waiting for them to announce a placement and drill program. Their asset is very close to the Highway in BC and it was also one of the highest grade gold play I've seen over the last decade. The LH property with some drill results could send the stock price moving because companies with similar results did the same thing. Not sure why it took 2 years of high priced gold and a tiny float for them to do this, but here we are.
More drill information:
A 2015 drill program conducted by Magnum Goldcorp intersected 16.9 m of 13.58 g/t Au, including 10.9 m of 20.61 g/t Au, and as well, 11 m of 20.66 g/t Au The Company’s 2017 exploration program was comprised of a two-phase program in the upper Fingland Creek basin. Phase I consisted of a ground geophysical survey centred over the LH Underground workings to delineate pyrrhotite-hosted, high grade gold mineralization previously identified in the LH Underground workings. Phase II was comprised of a follow-up diamond drill program to further evaluate results of both the ground magnetic survey and sub-surface, high-grade gold mineralization previously identified, and associated with the underground workings of the LH Mine. (Note: see the Company’s news release dated August 18, 2015 providing all of the results from the Company’s 2015 drill program, including high grade gold intercepts of 16.9 m of 13.58 g/t Gold (Au), including 10.9 m of 20.61 g/t Gold (Au), and 11 m of 20.66 g/t Gold (Au)).