Copperstone closes private placement

Copperstone Resources (CPP-V) has closed a private placement of 800,000 special warrants.

Proceeds of $680,000 will be used to pay down debt and finance a drill program on the Lucifer concession in the Boleo copper-cobalt district in Baja California Sur, Mexico.

The 15-hole program will span 1,500 metres in an attempt to follow up on copper-cobalt values reported in late 1995 and early 1996 in the vicinity of an old mine.

“We’re stepping out and trying to expand our tonnage,” says Exploration Manager Gerald Rainer.