(Image via Richmond Minerals)
Getting the chance to invest directly in legendary mines and historical success is a once-in-a-lifetime opportunity for many mining investors. The latest offering from the Stockhouse DealRoom presents that exact kind of opportunity.
Stockhouse readers are already familiar with Austria’s
sleeping silver giant mine Oberzeiring, once known as the “Mother of Vienna” for famously supplying wealth and minerals for buildings in the Austrian capital. They also know that
Richmond Minerals Inc. (
TSX-V:RMD,
OTC:RMDFF,
Forum) is working to bring that mine back to life and discover the silver and gold deposits still lying in wait.
And in the prosperous Swayze Greenstone Belt in Northern Ontario, home to strong and active projects including
IAMGOLD Corp. (
TSX:IMG)’s Jerome Mine and Côté Gold properties, Richmond Minerals is pushing through with the historically-drilled Ridley Lake Gold project. In addition to strong results from past drill holes on the property, including one-metre intercepts of 11.30 g/t Au, 7.55 g/t Au, and 7.64 g/t Au, recent results from the
adjacent Raney Gold property of
Rockridge Resources Ltd. (
TSX-V:ROCK) included an intersection of 28 g/t Au over 6 metres on trend with Ridley Lake.
(Image via Richmond Minerals)
With a strong gold market and rising silver market on its back, Richmond Minerals is looking to begin an extensive summer exploration program at both of its impressive projects. The Company already has a foundation of solid historical results on both projects, as well as a veteran management team with experience in the strong mining districts of both projects. Next up, financing the exploration program and getting started.
To ramp up its summer exploration program, Richmond Minerals is advancing a
non-brokered private placement of up to $800,000. The financing consists of up to 16,000,000 units of the Company at a price of $0.05 per unit, with each unit consisting of one common share and one purchase warrant redeemable for one additional common share at a price of $0.10 subject to expiration in 18 months.
Proceeds from the placement will go towards the Company’s exploration programs at both Oberzeiring and Ridley Lake this year. First phase exploration work at Oberzeiring is already underway with historical data compilation, and fieldwork including geochemical sampling, mapping of artisanal mine sites, and trenching of mine dumps is scheduled for mid-June.
At Ridley Lake, the Company expects to complete 2500 to 3000 metres of drilling on newly discovered IP anomalies that appear to extend the Aguara gold zone more than 600 metres west of the last phase of diamond drilling completed in the fall of 2017. Richmond Minerals anticipates the resumption of drilling following the closing of the financing at the end of June or early July, 2020.
To participate in the Richmond Minerals Inc. private placement click HERE
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FULL DISCLOSURE: Richmond Minerals Inc. is a paid client of Stockhouse Publishing. Stockhouse Publishing Ltd. (Stockhouse) is not registered as a broker, dealer, exempt market dealer, or any other registrant in any securities regulatory jurisdiction and will not be performing any registerable activity as defined by the applicable regulatory bodies. This deal room is for informational purposes only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. Offers to sell, or the solicitations of offers to buy, any security can only be made through official offering documents that contain important information about risks, fees, and expenses. The information contained in this deal room is selective and does not purport to contain all the information relating to Richmond Minerals Inc. In all cases, parties should conduct their own investigation and due diligence, not rely solely on the data provided herein and are encouraged to consult with a financial adviser, lawyer, accountant, and any other professional that can help to understand and assess the risks associated with any investment opportunity.