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Waraba Gold (CSE: WBGD, FSE: ZE0, OTC Pink: WARAF) has concluded a non-brokered private placement of common shares, raising $777,726. The placement issued up to 13,429,900 common shares at a price of $0.03 each. The funds will be utilized for exploration and general working capital. The issued shares will be under a statutory hold period of four months and one day from the issuance date.
Waraba Gold announced the commencement of a new drilling campaign at its Fokolore Gold Project in West Mali, West Africa. This marks 'Phase 1' of a three-phase program designed to extend the strike length of historic high-grade gold mineralization. During this phase, Waraba aims to carry out 76 reverse circulation drill holes, averaging 120 meters in depth, and 2,350 meters of rotary air blast drilling. 'Phase 2' and 'Phase 3' will follow based on initial results, with the potential for 20,000 meters of RC drilling and 2,000 meters of diamond core drilling. The first phase is expected to be completed in four to six weeks, with results announced as they become available.
