The Nevada-focused junior Lincoln Gold Mining Inc. (TSX-V: LMG) received a C$750,000 private placement this week and will use it to accelerate its pending acquisition of the state’s Bell Mountain project.
Lincoln started negotiations with the site’s owner Eros Resources Corp. (TSX-V: ERC) last August followed by an acquisition agreement announced in November. The companies then received approval for the deal from the TSX Venture Exchange later that month.
It is a fully permitted open-pit heap leach operation with a thorough cost-effective mining plan, Lincoln claims.
Once the private placement closes, Lincoln will be completing a preliminary economic assessment and starting to craft a detailed design for the site’s plant. The project is situated in the Fairview mining district, southeast of Reno in Churchill County.
“We are excited to announce this private placement offering as it marks a crucial step forward in our…
