Miner secures funds for Canadian gold project

Photo: Marathon Gold

Marathon Gold has announced it secured more than C$20 million to finance the exploration and development of its Val-entine Lake gold project in Canada.


The Toronto-based miner has "entered into an agreement with a syndi-cate of underwriters led by Canaccord Genuity Corp. and Sprott Capital Partners," Marathon Gold said in a statement.


The company says an October 2018 preliminary economic assessment showed the project’s total mineral resources to comprise measured min-eral resources of 16.6 million tonnes at a grade of 2.18 g/t containing 1,166,500 oz. of gold.