Probe Mines announced the completion of a brokered private placement to raise funds of $25 million toward gold exploration in northeastern Ontario.
In an April 21 release, the Toronto-based junior miner stated it intends to use the net proceeds from the offering for exploration and development of its Borden Lake property near Chapleau, for other projects and general corporate purposes.
Probe's Borden Lake property is a new gold discovery located 15 kilometres from Chapleau with a gold zone sitting a kilometres south of Highway 101.
The zone represents a new discovery in a previously unexplored area.
Probe also owns claims in the McFauld's Lake area of the James Bay lowlands, including a 100 percent in the Black Creek chromite deposit.
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