230804
Halcones Precious Metals (TSXV:HPM) has extended its upsized non-brokered private placement, having raised 90% of the $3 million it is looking to raise.
The company is looking to raise gross proceeds of up to $3 million from the placement of up to 60 million units priced at $0.05 per unit.
The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $0.10 for 36 months.
The shares are currently trading at $0.06.
The net proceeds will be used to continue the exploration work on its Carachapampa project as well as general corporate working capital purposes.
The Carachapampa Project is located in the Maricunga Belt, one of the most prolific gold belts in South America and host of many large scale high sulphidation epithermal deposits.
In this part of the belt the mineralized zones occur relatively close to or at surface.
Two Miocene volcanic dome complexes occur on the property, an essential geological component for high sulfidation epithermal gold mineralization.
The domes are aligned on the same NW/SE structural corridor controlling the Arqueros and Teterita gold-silver deposits, the locus for the mineralizing fluids.
The company has identified four target areas all with gold mineralization.
In mid-May 2023, the Halcones technical team commissioned a colluvial study to follow-up on the drilling results from earlier in 2023 at the Northwest zone.
The study comprised 50 samples over a 100m x 100m grid pattern.
The results highlighted a distinct geochemical anomaly between hole CAR23-012 and CAR23-007 comprising elements that are typical pathfinder elements related to gold deposits in the region.
This image, a conceptual interpretation of the spatial relationship of recent drilling and how it may relate to the conceptual deposit model, was generated by superimposing drill results using identified rock types and associated alteration on the typical deposit model of the district.
Ian Parkinson, CEO, recently stated: “These results are very encouraging; in that they indicate we are potentially on the margin of a substantial deposit. I recently returned from Chile having spent several days with the Halcones technical team reviewing core and the data from our recent studies. We are confident in our conceptual deposit model which we are using for drill hole targeting. The recent program identified significant gold mineralization within the property and these mineralogical and sediment results give us an idea of where our recent drilling may fit within the deposit model for gold deposits in the region. We will use this new data along with recent drill results as a basis for continued exploration. The spatial relationship of alteration and geochemical signature to the mineralization observed in the recent drill program is very encouraging as it is directly analogous to local producing mines and other deposits in the area.”
For more information or to participate in the private placement, please visit the company’s website at www.HalconesPreciousMetals.com, or contact Vincent Chen, Investor Relations, at info@HalconesPreciousMetals.com.
#investmentpitchmedia #newsalerts #HalconesPreciousMetals #ExplorationProgram #GoldDeposits #MaricungaBelt #HighSulfidationEpithermal #VolcanicDomeComplexes #GeochemicalAnomaly #GoldMineralization #Chile #GoldExploration #PrivatePlacement #MiningInvestment #PreciousMetals #MiningProjects #MiningNews #GoldMining #MineralExploration #MineralResources #MiningCompanies #MiningBusiness #MetalsAndMining #MiningUpdates #ResourceDevelopment #MiningStocks #MineralExploration #MiningGeology #MiningInvestments #GoldResources #ExplorationResults #DrillProgram