Larder raises cash to purchase MCK

Toronto-listed International Larder Minerals has raised $2 million through the issue of 10 million shares at 20 cents each.

Proceeds will be used to acquire a 49% interest in MCK Prospectors, which, in turn, has an option to buy all the outstanding shares of Hendricks Mining (HMC).

Hendricks is a private Colorado company that owns the Cross mine and options to buy adjoining properties.

The Cross mine, near Boulder, Colo., is a former polymetallic producer. Although the existing mine workings extend only 300 ft. below surface, gold mineralization extends to at least 700 ft., Larder says.