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Amador Gold kicks off Timmins drill program, announces financing

Having advanced a handful of its Northern Ontario projects to the drilling stage, Amador Gold Corp. (TSX-V: AGX) has announced plans to spend $1.1 million on drilling in the Timmins and Red Lake areas.
Northern Ontario Business Staff

 
Having advanced a handful of its Northern Ontario projects to the drilling stage, Amador Gold Corp. (TSX-V: AGX) has announced plans to spend $1.1 million on drilling in the Timmins and Red Lake areas.

This includes $300,000 set aside for both the Timmins-area Horwood Gold Project and the Loveland Gold/Copper/Nickel Project, while $200,000 is set aside for the Kamiskotia Gold Project. The Maskooch VMS Project, located in the Red Lake area, will have a budget of $300,000.

Amador Gold has also announced it has arrange for private placement financing for total proceeds of $1.6 million. It remains subject to regulatory approval.

Amador is part of a group of companies led by renowned mineral industry figure Richard Hughes which also includes Golden Chalice Resources Inc (TSX-V: GCR).