A reactivated Skyline Gold (TSE) has arranged financing to cover $720,000 of exploration programs for 1993.
The programs, to be financed by the private placement, are in addition to a $250,000 program being carried out this year by Cominco (TSE). The major has an option to explore for an extension of the Snip gold deposit on Skyline’s Iskut River property.
The financing will enable Skyline to explore its newly acquired Aztec project in Mexico. This program is under way and work is about to begin on Skyline’s Johnny Mountain gold mine and the Bronson Creek porphyry copper target in the Iskut River region of northwestern British Columbia.
Skyline received court approval for the bulk of its proposed corporate reorganization, which involves creating a new company, International Skyline Gold, to hold all mining assets.
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