Sunbeam - Old workings Nuinsco up to 93.3g/t7 Oct 2022 12:36
Previous estimates are that there could be 50,000-70,000t grading 13.0g/t Au remaining in the old workings 2021 Nuinsco reported grading up to 93.3g/t on a drill program! - if that is not a reason to buy I don't know what is. Bullish on First Class Metals. The company has the shareholder at the center of its heart and that is a First to see! Nickle results are outstanding, and the next set will be within 2 weeks. Now with 8 properties, 7 fully owned and 1 with Pow as the investor this is likely to hit a pound in a very short time. News conveyor belt wont be stopping anytime soon.
HIGHLIGHTS
· The claims together contain the sites of 3 different developed gold mining operations (Sunbeam, Pettigrew & Roy Mines).
· Total area of 48km2 comprising of 104 single cell claims in the 'Sunbeam Property' and 9 multi cell claims on the 'English Claims'.
· Recent exploration activities, which includes diamond drilling, indicate several other areas of possible mineralization.
· Property is located 15km southeast of the Agnico Eagle 3.3moz Hammond Reef project.
· Previous estimates are that there could be 50,000-70,000t grading 13.0g/t Au remaining in the old workings.1
· The structure hosting the Sunbeam Mine is open in all directions and will be the focus for further exploration.
· Previous diamond drilling reported: drill hole NS-21-03 - 93.3g/t Au over 0.44m (from 99.5m). No drilling has been recorded below this level.
· Financed by a Convertible Loan Note "CLN" from existing, long-term shareholders Sanderson Capital Partners Ltd and Afzal Valli, with all drawdowns fixed at a premium to the current previous five day average closing share price of 11.46p.
· £80,000 Subscription for 666,667 shares at 12p from two existing UHNW Investors.