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Zephyr Minerals Ltd. (TSXV: ZFR) is actively conducting evaluations of gold properties in Zimbabwe with a focus on projects demonstrating gold potential through mining operations or past exploration work. The company has signed multiple joint venture agreements and applied for Exclusive Prospecting Orders covering 124,000 hectares. Zephyr is also exploring lithium opportunities and targeting Archean greenstone belts in Zimbabwe. In Colorado, the company is progressing mine permitting activities at its Dawson gold property.
The recent announcements include the closing of multiple tranches of a non-brokered private placement financing, totaling 4,000,000 units at $0.09 per unit for gross proceeds of $360,000. Zephyr plans to utilize these funds for mineral exploration programs in Zimbabwe and general corporate purposes. The units consist of common shares and transferable share purchase warrants, offering investors an opportunity to participate in the company's growth and exploration ventures.
Zephyr Minerals announced on May 31, 2024, that it closed a non-brokered private placement, issuing 4,000,000 units for gross proceeds of $200,000. Each unit includes one common share and one transferable warrant, allowing the holder to acquire one share at $0.08 over 36 months. The net proceeds will fund drilling and water well monitoring at Zephyr's Dawson gold property in Colorado and support general corporate needs. The company paid $6,563 in finders' fees and issued 131,250 finders' warrants. The offering, subject to TSX Venture Exchange approval, included 75,000 units purchased by an insider, amounting to $3,750. All issued securities are subject to a four-month hold period.
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