Welcome to our dedicated page for CANEX METALS news (Ticker: NOMNF), a resource for investors and traders seeking the latest updates and insights on CANEX METALS stock.
CANEX Metals Inc. (NOMNF) is a Canadian exploration company that focuses on advancing its Gold Range Project in Northern Arizona. With numerous bulk-tonnage gold discoveries, including the recent WestGold area, the project demonstrates significant potential for investors. The company holds a 5-kilometer strike length along a prospective structure, aiming to define mineralization through surface sampling, mapping, and drilling activities. Along with strong drilling results like 1 g/t gold over 59.5 meters, CANEX is positioned for future exploration and growth.
CANEX Metals Inc. has successfully closed a C$600,000 private placement to enhance its Gold Range Project in Arizona. The financing attracted strong investor support, with insider ownership increasing to 21.1%. Notably, lead investor Michael Gentile now holds 10.9% of CANEX. The funds will allow the company to expand its drilling program from 15 to 30 holes, targeting key areas such as the WestGold and Shaft Targets. As of now, seven holes have been drilled, with assay results pending. This initiative aims to increase potential mineralization in this underexplored region.
CANEX Metals Inc. has announced an increase in its non-brokered private placement due to strong shareholder demand, now offering up to 10,000,000 shares at $0.06 per share, aiming for gross proceeds of $600,000. The offering will be available to accredited investors and is subject to a four-month hold period and regulatory approval. Funds from this financing will support drilling and exploration at the Gold Range Property and provide general working capital. The Company notes this placement falls within the MI 61-101 exemption guidelines as it does not exceed 25% of its market capitalization.
CANEX Metals Inc. has announced a non-brokered private placement to raise up to $500,000 by offering 8,333,333 shares at $0.06 each. The shares will be available to accredited investors and will have a hold period of four months plus one day post-closing. Proceeds will be utilized for drilling and exploring the Gold Range Property and general working capital. The Gold Range project, located in Northern Arizona, is a promising oxide-gold target with notable drilling results including 1 g/t gold over 59.5 metres. The financing is pending regulatory approval.
CANEX Metals Inc. has announced the commencement of exploration drilling at its Gold Range Project in Arizona, focusing on three high-priority targets with significant discovery potential.
Key highlights include:
- The expansion of the WestGold soil anomaly, measuring 425m by 150m, representing the strongest gold anomaly to date.
- Recent high-grade assay results confirm gold grades up to 57.5 g/t.
- A permit amendment allowing drilling at WestGold, with 4 holes planned.
- Newly mapped mineralized zones parallel to Excelsior with grades up to 21.5 g/t.
The drilling program aims for 15 holes across these promising areas.
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