Manhattan Minerals closes special warrant financing
Wednesday Jun 16 1999
Mr. Graham Clow reports
Manhattan Minerals has closed the first tranche of $10-million of the $11.25-million special warrant financing reported in Stockwatch June 3, 1999. The second tranche of $1.25-million will close on July 22, 1999. The financing comprises 3.0 million special warrants at $3.75 each.
At the Tambo Grande project in Peru, diamond drilling commenced on May 27, 1999. Presently two drills are working on the TG1 deposit, conducting confirmatory and step-out drilling. To June 15, 1999, 24 holes, totalling 2,651 metres, had been completed. A third drill will commence work during the week of June 21, 1999, testing the TG3 anomaly. The company expects to release results from this drilling within the next two weeks.
Prior to the new drilling results, the company will release results of reassaying of BRGM drilling on the TG1 deposit, conducted in 1979/1980. This core is presently being assayed for gold content, as well as check assaying of base metal content. |
