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Aurania Resources Ltd. (ARU:CA)
With New Funding Secured, the Drill is Turning.
- Drilling has commenced at Crunchy Hill. Aurania began scout drilling at its first target, Crunchy Hill, on March 3rd. The plan is to drill 5 to 8 holes, with each hole taking 5 to 7 days to complete. Drilling will follow on the company’s 10 other epithermal gold-silver targets. Results will be released after several holes have been completed. It generally takes a week to send samples to the laboratory and three weeks to receive results.
- Rights offering raised ~C$5.25 million. Aurania Resources issued 1,946,172 new common shares associated with its recent rights offering. The offering raised gross proceeds of ~C$5.25 million. Following the offering, there were 34,882,738 common shares outstanding. Aurania intends to use the net proceeds to fund exploration, including scout drilling, payment of concession fees and gen...
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