Windy raises cash

Through a private placement of 25 units, Windy Mountain Explorations (COATS) has raised $706,250 for further exploration at the MacLeod Lake copper property, north of Chibougamau, Que. Each unit consists of 10,000 flow-through shares at $2.75 per share and 3,000 share purchase warrants at 25 cents per warrant.

Proceeds from the private placement will be used for further mapping, prospecting and drilling to delineate the known zone of mineralization and test other anomalous zones discovered during the summer exploration program.

Last April, the company announced a preliminary reserve estimate of 30.1 million tonnes grading 0.48% copper and 0.07% molybdenum for the property. The estimate is based on a 35-hole drill program totalling 4,736 metres.