Friday, 19th November 2004 (2509 views)

Sahelian Goldfields has revealed it has signed a private placement deal, which will help with a major gold drilling programme next year.

The placement deal is for $2 million and is set to close at around December 10 this year.

The deal follows recent announcements by the firm of acquiring interests in six gold exploration properties in Nevada and exploration has already begun.

President and CEO, Nigel Lees, stated: "With the proceeds of this financing, we will be well positioned financially to conduct an aggressive exploration program, including an extensive drill program on the company's properties as well as continue to pursue new acquisitions."

Subject to further financing and permitting, a drill programme of around 8,000 metres is planned for the first quarter of 2005 on the Nevada properties.

Sahelian is a precious metals exploration and development company and has properties in Quebec, Nevada and Ontario.

 

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