Cache Exploration Inc. (CEXPF) has secured a financing facility with Alumina Partners for up to C$6.0 million to enhance its working capital. The agreement allows for drawdowns in tranches not exceeding C$250,000 each, with units comprising one common share and a warrant. CEO Jack Bal emphasized that this funding will support the advancement of exploration projects at Kiyuk Lake and Marmot. The facility does not carry standby charges and is subject to TSX Venture Exchange acceptance.
Cache Exploration Inc. announced the completion of a definitive agreement to acquire a 100% option on the Marmot Precious Metals Project located in British Columbia's Golden Triangle. The acquisition involves a series of cash payments and share issuances totaling $2.6 million over four years. Granby Gold Corp retains a 2% royalty, which Cache can partially purchase. The Marmot Project spans 4,049 hectares and includes several mineral references, including the historic Montana mine. Cache plans to initiate work programs as weather permits to explore the project's potential.
Cache Exploration Inc. (CEXPF) has engaged Discovery Mining Services to set up camp and a winter runway at its Kiyuk Lake Gold Project, preparing for a significant drill program exceeding 4,000 meters starting in early March 2021. Discovery Mining Services is known for its expertise in remote exploration camps and logistical support. The Kiyuk Lake project spans 590 km² in SW Nunavut and features multiple gold intercepts, including notable drill results of 8m at 26.4 g/t gold. With five new target areas identified, exploration is set to expand significantly.
Cache Exploration Inc. has signed a Letter of Intent with Artemovsky Rudnik JSC to acquire the Lysogorskoye Gold Deposit in Krasnoyarsk, Russia. The due diligence period will conclude by April 30, 2021, after which a Definitive Agreement may be signed, pending TSX Venture approval. The project, historically estimated to contain 1.7 million ounces of gold, offers potential for rapid production due to its established infrastructure. The company also plans a private placement of up to $2.8 million to fund exploration and other liabilities.