Atlantic Gold
Atlantic Gold NL is an Australian-listed gold exploration company (ASX code ATV). The company is focused on the exploration and development of the Touquoy Gold Project and the Cochrane Hill Gold Deposit in Nova Scotia, Canada.
Atlantic Gold raises $1.5 million to advance gold projects
Atlantic Gold (ASX: ATV) will advance its gold projects in Nova Scotia after placing a total of 25 million new fully paid ordinary shares at an issue price of 6 cents per share to raise $1.5 million.
In a statement today, the company said the funds raised from the placement and SPP would be used to progress Atlantic Gold’s gold projects in Nova Scotia, particularly with the purchase of certain surface land titles at the Touquoy Gold Project.
In parallel with the placement Atlantic Gold will offer all eligible shareholders the opportunity to participate in a Share Purchase Plan at the same price of 6 cents per share.
In addition to developing the Touquoy and Cochrane Hill Gold Projects, Atlantic is undertaking extensive exploration, both regional and near-mine to build its resource base.
The company believes the area is highly prospective for additional Touquoy style deposits.
Atlantic’s more recent involvement in the advanced Cochrane Hill property reflects this strategy, to the extent that the company now has over 1.2 million ounces of gold resources under its control in this emerging district.
Other Atlantic Gold news
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04/01/10 Atlantic Gold announces results from drilling at Touquoy West
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03/12/09 Atlantic Gold looks at merger option for Canadian gold assets
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02/07/09 Atlantic Gold adds to potential open pit gold potential in Nova Scotia, Canada
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20/03/09 Changes at Acadian Mining Corporation to assist Atlantic Gold with Nova Scotia gold assets
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