Ms. Ellen Clements reports
NEW NADINA CLOSES $103,000 TRANCHE ONE
New Nadina Explorations
Ltd. has closed tranche one of the
private placement of six million units at a price of eight cents per unit for gross proceeds of $480,000. The units of the financing
comprise one common share and a full share purchase warrant, exercisable
for a period of five years (subject to accelerated terms) at a price of
12 cents per share.
Tranche one proceeds of $103,000 in addition to funds received from the sale
of Kettle River Resources Ltd. are adequate to initiate the Silver Queen
drilling program on its 100-per-cent-owned property near Owen Lake, south of Houston,
B.C.
The drill program is designed to test two new geophysical targets and a
previously intercepted high silver grade vein.
An approximately 250-metre-wide cylindrical type feature is of coincident high
chargeability and low resistivity. The other untested target is a deep,
large, very conductive geophysical anomaly to the northwest of the NG3 vein
system. The No. 3 vein system west of the porphyry striking northwest carries
gold, silver, lead and zinc and is not epithermal appearing as seen within
the porphyry to the east.
Drilling is expected to commence Oct. 4, 2017.
We seek Safe Harbor.
© 2026 Canjex Publishing Ltd. All rights reserved.