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Cariboo Rose Resources ( (TSE:CRB) ) has shared an update.
Cariboo Rose Resources plans to raise up to $800,000 through a non-brokered private placement, combining up to $500,000 in units priced at $0.05, each with a common share and a four-year warrant, and up to $300,000 in flow-through shares priced at $0.07. The offering, which may include insider participation and is subject to TSX Venture Exchange and regulatory approvals, will fund an exploration program at the company’s Lightning Strike gold-silver project in British Columbia and support general working capital, potentially advancing a historically mineralized target with multiple anomalous gold intercepts.
The Lightning Strike property spans 4,193 hectares and lies northeast of 100 Mile House on the eastern edge of the Quesnel Terrane, in a geological setting comparable to large orogenic gold systems such as Muruntau and Sukhoi Log. Historic work by previous operators identified high-grade gold and silver values in trenches and confirmed widespread mineralization in 31 diamond drill holes, and the new financing is intended to build on this work to further delineate the project’s potential.
More about Cariboo Rose Resources
Cariboo Rose Resources Ltd. is a Vancouver-based mineral exploration company listed on the TSX Venture Exchange under the symbol CRB. The company focuses on precious metals exploration projects in British Columbia, with a key asset being its 100%-owned Lightning Strike gold-silver project near 100 Mile House, which hosts orogenic, sediment-hosted mineralization analogous to major deposits in Asia.
Average Trading Volume: 157,983
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$3.19M
For an in-depth examination of CRB stock, go to TipRanks’ Overview page.