Aquitaine Metals has raised approximately C$47.1 million ($47.59 million) through a non-brokered private placement with Kinross Gold (TSX:K) and Alpayana to accelerate exploration in France.
The financing will primarily support additional drilling at Aquitaine’s Limousin Gold and Critical Metals Project in Nouvelle-Aquitaine.
In its 7 October announcement, Aquitaine said it issued 6,278,949 common shares at C$7.50 each. Following completion, the company holds approximately C$92 million in cash.
Funds may also support technical staffing, research, environmental work, community engagement, and working capital.
CEO Chris Taylor says the investors’ support strengthens Aquitaine’s capacity to explore the district.
“We are well positioned to expand our exploration efforts and unlock the broader potential of the Limousin district,” he says.
Limousin covers 330km² of exploration licences about 40km south of Limoges and includes 23 former small-scale gold mines.
An initial diamond drilling program is underway to check historical data and test extensions of mineralised zones.
Aquitaine Metals is a privately held, Canadian gold and strategic metals explorer advancing French projects through its wholly owned subsidiary CMA.
Write to France Pinzon at Mining.com.au
Main image: Aquitaine Metals
