In a news release, Granite Creek Copper Ltd. (GCX:TSX.V) announced updates regarding its current exploration and financing programs.
Granite Creek Copper launched a fall drill program at its Stu copper-gold project in the Yukon. Plans call for 1,500 meters of diamond drilling to expand upon previous drilling done in 1980 on the high-grade A zone.
"Our technical team has spent a great deal of time compiling and interpreting data on the Minto Copper Belt, with a focus on the Stu and Carmacks projects, and this exemplary work has enabled us to quickly initiate our inaugural drill program just 18 months into the company's history," President and CEO Tim Johnson said in the release.
As for its private placement financing, the British Columbia-based explorer closed the first of two tranches, through which the issuance of flow-through and non-flow-through units and flow-through shares generated an aggregate US$1.8 million. The second tranche, for up to CA$604,000, is slated to close on Oct. 15, 2020.
Each unit consists of one Granite Creek common share and one-half of one share purchase warrant. Each whole warrant will entitle the holder to acquire one common non-flow-through Granite Creek share at an exercise price of $0.25 for two years after the private placement closes.[NLINSERT]
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Granite Creek Copper. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Granite Creek Copper, a company mentioned in this article.