Great Northern Minerals Limited is pleased to advise that it has received commitments to raise $1.4M through a share placement of 100 million shares.
Funds raised will be used to expand the forthcoming drilling program across the Company’s three gold projects in North Queensland, as well as carry out metallurgical testwork in addition to augumenting working capital.
Signing of the contract with Eagle Drilling facilitates the mobilisation of a large reverse circulation drill rig to Camel Creek on 27 July 2020 with the drilling anticipated to take approximately 6 weeks to complete and allow an assessment of all of its projects below the depth of any previous drilling.
- Strongly supported placement of $1.4M to expand the drilling program to 4000+ metres whilst further strengthening the GNM share register;
- Drilling contract with Eagle Drilling executed; and
- Expanded gold drilling program to commence 27th July 2020.