Nine Mile Metals (CSE:NINE) is set to conduct exploration activities at its Nine Mile Brook Project in Canada, following closing an oversubscribed non-brokered flow-through private placement.
Under the placement, 20 million units were issued at C$0.02 per unit, which raised C$400,000 ($436,196). Each unit comprises one common share and one share purchase warrant, exercisable at C$0.05 within 36 months.
As previously reported, the private placement was originally announced as C$182,132.
The Nine Mile Brook Project, covering 50.4km2, is located 10km southwest of the historical Brunswick 12 Mine – which is considered one of the largest underground zinc mines globally.
Nine Mile Metals is a Canadian mineral explorer focused on critical minerals and volcanogenic massive sulphide (VMS) discoveries.
The company’s primary business objective is to explore its four VMS projects named the Nine Mile Brook, California Lake, Canoe Landing Lake (East West) and Wedge VMS projects.
Write to Aaliyah Rogan at Mining.com.au
Images: Nine Mile Metals
