Core Assets (CSE: CC) is looking to raise funds for further exploration of its Blue Property in British Columbia. The firm last night revealed that it will be conducting a charity flow-through financing.
The offering will see the company aim to raise $3.0 million via the sale of charity flow through shares at a price of $0.43 per unit. Each unit is to consist of one common share and one half of a common share purchase warrant. Each warrant is valid for a period of two years from the date of issuance, and contains an exercise price of $0.47.
The financing, slated to close February 15, will see funds used for the firms Blue Property, where the company as of late has been focused on the Silver Lime project. The firm recently indicated that it had encountered 250 g/t silver, 7.5% zinc, 12.1% lead and 0.33% copper over a span of 8.0 metres within a channel sample conducted at the recently discovered Pete’s CRD target at the project.
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A drill program conducted last year by the company is still waiting on assay results for a total of fifteen holes. The 7,368 metre drill program, of which 5,565 was focused on Silver Lime, saw partial assays released on two holes in October. Highlights from those results include 1.97 metres of 661 g/t silver, 13.2% zinc, 14.0% lead, 0.27% copper and 0.22 g/t gold.
Core Assets Corp last traded at $0.29 on the CSE.
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