Vital Metals has raised $5 million through a share placement to aggressively expand gold exploration activities at three sites in Burkina Faso, West Africa.
The raising provides Vital with the necessary funds to support an aggressive drilling program targeting 12,500 metres of predominantly RC drilling in Burkina Faso.
Vital managing director Mark Strizek said the capital raising would support the company’s stated intention to ramp up its exploration campaign in West Africa in 2017.
“We have a bank of high-grade gold targets to drill test on the Kollo trend and we are now fully financed for continuous drilling on multiple targets well into 2018,” Strizek said.
He added the company now intended to substantially expand the previously limited auger drilling campaign to delineate further gold mineralisation structures providing a series of drill ready targets.
“As each set of results comes through, the potential of Vital’s permits continues to grow,” Strizek said.