Imperial mining closed a private placement of shares for gross proceeds of $1.11 million

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Sep 12, 2019

Imperial mining closed a private placement of shares for gross proceeds of $1.11 million. Aside for corporate purposes, the funds will allow us to continue to advance our Opawica Gold project as well as our flagship Crater Lake scandium-rare earth project. Specifically, we intend to complete surface evaluation and diamond drilling investigation of the Central Gold Zone at Opawica to follow up on historical drill results that returned up to 6.9 g/t gold (Au) over 3.8 m and 87.7 g/t Au over 1.5 m. In addition, we will complete the preliminary metallurgical testing of bulk sample material collected from TG Zone scandium-rare earth mineralization and additional surface evaluation of a new, high-grade target is, the Northern Target, that returned scandium grades of up to 1,634 ppm scandium (2,506 ppm scandium oxide).


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