The play begins :
Boulder Mining raises a Walping 495,000
Boulder Mining Corp YBR
Shares issued 12,544,491 Mar 21 close $0.23
Thu 21 Mar 2002 News Release
Mr. John McAdam reports
BOULDER MINING RAISES $495,000
Boulder Mining has successfully closed the financing previously announced
in Stockwatch on Dec. 20, 2001, which consists of a private placement of
2.37 million units priced at 15 cents per unit totalling $355,500. Each
unit consists of one common share and one 16-month warrant to purchase one
additional common share for 25 cents.
In addition, the company has secured the flow-through financing announced
in Stockwatch Feb. 22, 2002, consisting of 933,334 units at 15 cents per
unit for an additional $140,000. Similarly, each flow-through unit consists
of one common share and one 16-month warrant (amended from the previously
announced 12-month warrant) to purchase one additional common flow-through
share for 25 cents. Combining the two financings, a total of $495,000 was
raised by the company.
The flow-through funds are being used to support the cost of a partially
completed 14-hole reverse circulation basal till and bedrock sampling
program conducted by Overburden Drilling Management Ltd. on the Walp (gold)
property. The property covers a highly prospective 10-kilometre long
segment of one of the few remaining unexplored deformation zones extending
for 350 kilometres across the Abitibi Greenstone belt which has produced
over 170 million ounces gold. The Walp property is situated approximately
70 kilometres northeast of the Timmins gold camp in Northeastern Ontario.
On the Walp kimberlite claims, grids have been established over five of the
six magnetic anomalies and will be subsequently geophysically surveyed. Two
reverse circulation holes will be tested for kimberlite indicator minerals.
In the Otish area of Quebec, Boulder's 100-per-cent-owned WS and WT
Properties are scheduled for an airborne gradiometer surrey by mid-May, to
be followed up by a field program consisting of till sampling and
prospecting during the summer season. Arrangements have been with
Overburden Drilling Management Ltd. to receive and process all till samples
collected on the WS and VVT properties. |
