Two private placements are intended to raise $487,500 for exploration drilling at the Guabisay gold-silver-Copper project in central Ecuador.
Property-owner Rio Amarillo Mining (RIO-V) reports that A.R. Rule Investments will subscribe for 1 million units at 30 cents each for one year.
The cash will help Rio finish a drill hole which was stopped at 103.5 metres in November 1996 when funds dried up. One intercept, from 69 to 103.5 metres, returned 0.49% copper, as well as 3.12 grams gold and 35.8 grams silver per tonne.
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