The company is looking to raise gross proceeds of up to $500,000 from the placement of up to 10 million units priced at $0.05 per unit.
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Video Transcript:
I’m Megan Edwards for Investmentpitch Media
Aura Resources has announced a non-brokered private placement.
The company is looking to raise gross proceeds of up to $500,000 from the placement of up to 10 million units priced at $0.05 per unit.
Each unit consists of one share and one warrant with each warrant exercisable at $0.07 for 36 months.
The shares are currently trading at $0.06.
The proceeds will be used for exploration expenditures related to the Gold Chain project; completion of due diligence and potential exploration of the Jefferson Canyon project; and, for working capital and general corporate purposes.
In July 2018, Aura acquired the Gold Chain project in western Arizona in order to diversify the company's mineral property portfolio.
Since this time, Aura has since expanded its land position from 86 to 100 unpatented claims.
The company plans to commence field work in spring 2019 focusing on the known gold-bearing stockwork and breccia zones outlined in a news release on July 30, 2018.
On March 4, 2019, the company announced a non-binding letter agreement relating to the Jefferson Canyon gold-silver project in southern Nevada, Nye County near the Round Mountain gold mine.
The Jefferson Canyon Project contains a large volcanic-hosted epithermal gold-silver system that is essentially the same age as the nearby Round Mountain deposit, a world-class low-sulfidation epithermal deposit.
Both are hosted in felsic ash-flow tuffs along the margins of calderas and both contain a strong northwest-trending structural control to veins.
The company's goal is to conduct a field visit as soon as snow clears in mid-April and to collect rock samples to confirm historical results.
The company anticipates analytical results will be available by mid-May allowing for the conclusion of due diligence on the property and completion of a definitive agreement on or before May 31, 2018.
Robert Johansing, President and CEO, stated: "Since I joined the Company, considerable energy has gone into adding prospective new projects to Aura's portfolio with a focus on some of the world's most mining friendly jurisdictions. With both Agnico Eagle and Minaurum Gold advancing projects initially held by Aura, we are now focused on exploration in the western United States. I look forward to updating shareholders on our advancements during 2019."
For more information, please visit the company’s website at www.AuraSilver.com, contact Robert Johansing, President and CEO, at 805-455-4775 or email RJohansing@gmail.com.
I’m Megan Edwards for Investmentpitch Media
