Q-Gold Resources (TSXV:QGR) (OTC:QGLDF) (FSE:QX9G) announces non-brokered private placement to raise up to $1 million with $0.05 units.
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Video Transcript:
Q-Gold Resources Ltd (TSXV:QGR) (OTC:QGLDF) (FSE:QX9G) has announced a non-brokered private placement.
The company is looking to raise gross proceeds of up to $1 million from the placement of up to 20 million units priced at $0.05 per unit.
The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.07 for 24 months.
The shares are currently trading at $0.055.
The proceeds will be used to fund the exploration work at the Surupana Property, as well as for general corporate and working capital purposes.
In July 2020, the company, through its wholly-owned subsidiary, acquired an option to earn a 100% interest in the Surupana Silver Property, covering the historical Surupana Silver Mining Camp, located in the silver rich altiplano region, Puno province, 830 kilometers SE of Lima, Peru.
The property is proximal to several operating mines, advanced development and advanced exploration projects that are located along a prominent north-westerly trending regional structure.
To date twelve historical mine workings have been identified that focused on high-grade silver, copper and lead mineralization.
Q-Gold is also currently exploring for gold at the past-producing Foley Gold Mine in Mine Centre, Ontario
The company holds more than 10,000 acres of contiguous mining claims, Crown leases and leasehold patents located within the historic Mine Centre 1890’s gold camp, which produced 16,025 ounces of gold from the Foley Gold Mine and the Golden Star Mine.
Previous drilling conducted by Q-Gold between 2005-2012 established the Foley Gold Mine as a large deposit of gold-bearing veins with an excellent picture of the mine’s gold potential from surface to the 122 meter level.
For more information, please visit the company’s website at www.QGoldResources.com, contact Dr. Andrew Rompel, CEO, 416-861-2267 or by email at andy.rompel@QGoldResources.com.
