Nuvau Minerals (NMC.V) has confirmed drill rigs have now been mobilized to its flagship Matagami project. A total of approximately 17,500 meters of drilling will be completed across eight sectors on the property where volcanic massive sulphides and gold occurrences were encountered in close proximity. The drill program will initially target three high priority target areas, and has two primary objectives:
The company is of course fully funded for this drill program after completing a C$21M financing. The financing consisted of a combination of Flow-Through at C$0.90 and hard dollar units priced at C$0.80 and this of course puts the balance sheet on a solid footing.
Disclosure: The author has a small long position in Nuvau Minerals. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
