pcNewsWire – Savant Explorations Ltd. (TSX-V: SVT) has arranged a private placement of $500,000 at a price of $0.05 per common share.
Proceeds will be used to advance the company’s wholly‐owned Blue Moon zinc project including initiating the baseline work for permitting, initial engineering work, obtaining permits for the anticipated drill program and general working capital.
SAVANT EXPLORATIONS LTD. ANNOUNCES $500,000 FINANCING
June 5, 2017 ‐ Savant Explorations Ltd. (TSXV: SVT) (the “Company”) announces the Company has arranged a private placement of $500,000 at a price of $0.05 per common share, subject to
regulatory approval. Certain insiders have agreed to participate and the common shares to be issued pursuant to this private placement will be subject to a hold period expiring four months and one day from closing. The proceeds will be used to advance the Company’s wholly‐owned Blue Moon zinc project including initiating the baseline work for permitting, initial engineering work, obtaining permits for the anticipated drill program and general working capital.
The Company is focused on the wholly‐owned advanced stage Blue Moon Zinc project. The Blue Moon project has a current resource estimate of 2.62 million tons with a grade of 6.01% zinc in the Indicated category and 2.68 million tons with a grade of 5.98% zinc in the Inferred category plus significant values of copper, silver and gold. Historical metallurgical testing indicates favourable recoveries of zinc and other metals. A NI 43‐101 report detailing the resource and summarizing metallurgical recoveries is available on the company’s website (www.savantexplorations.com) and filed on SEDAR on February 21, 2008. The Company plans to advance the project to feasibility and permitting.
Jack McClintock, P. Eng, a Director of the Company, is a qualified person as defined by NI 43‐101, has reviewed the scientific and technical information that forms the basis for this press release.
For more information please contact:
Patrick McGrath, CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Savant Explorations Ltd.