TORONTO – Taura Gold Inc. [TORA-TSXV] completed its public offering of securities on December 8, 2021. Gross proceeds received by the company for the offering were $750,000 (5 million common shares at 15 cents per common share).
The TSX-V has received confirmation that the closing of the offering has occurred. Therefore, the common shares of the company, which were listed and halted on December 7, 2021, will commence trading at the opening on Monday, December 13, 2021.
Taura Gold is focused on gold exploration in Canada. It is currently actively exploring the 100%-owned Shabu River project in the Red Lake district of northwestern Ontario.
The Shabu property is located in the Birch-Uchi greenstone belt, approximately 80 km northeast of Red Lake, Ontario. The road accessible property is made up of 32 mining claims that cover an area of 720 hectares.
Historic work on the property has defined gold mineralization at surface through trenching and diamond drilling. Gold mineralization at the property occurs in quartz-carbonate veins with 2-3% pyrite hosted in shear zones associated with contacts of the granodiorite and porphyritic dykes.
Recent work on the property includes soil sampling (2020), airborne VLF-EM (2020) and high-resolution magnetic surveys (2019). This recent work has defined multiple areas of interest for further exploration work at the property. Future work will include prospecting and mapping, additional soil sampling and outcrop stripping to determine controls on gold mineralization and alteration.
Management and the board of directors of Taura Gold consist of Dominic Verdejo (chief executive officer, president and director), Karly Oliver (director), Nathan Tribble (director) and P. Joseph Meagher (chief financial officer, corporate secretary and director).