Burkina Faso: West African Resources raises $12.5 million for Tanlouka project
Wednesday, 08 June 2016 17:28
Miner West African Resources announced that it has completed fundraising (announced last A pril) of $12.5 million to finance an intensive drilling program at the Mankarga-1 prospect of its Tanlouka gold project, in Burkina Faso. To raise this sum, the firm placed 70,200,000 ordinary shares at $0.125 a share to both local and international investors.
The intensive drilling program which will be carried out in the high-grade mineralization zone that was recently discovered at Mankarga-1 includes exploration drilling and resource determination drilling, in order to find an unexploited resource on the prospect.
West African Resources Ltd holds 100% of the Tanlouka project, which also comprises the Mankarga-5 prospect and is part of the bigger Boulsa project that includes 25 adjacent permits covering 6,370 km2 in Burkina Faso.
Louis-Nino Kansoun
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