The private placement announced by Gladiator Metals TSXV: GLAD; OTC: GDTRF) last week has been upsized to $12 million from $10 million.
The goal will be reached with the issuance of 17 million charity flow-through shares at a price of $0.61 per share and 4.1 million non-flow-through shares at a price of $0.40 each.
Gladiator is active at the Whitehorse copper project near the Yukon capital of the same name. The flow-through money will be used at the Cowley Park target and the Chiefs trend (Middle Chief and Little Chief).
Cowley Park is a high-grade copper-molybdenum find with a strike length of about 700 metres. Drilling has returned copper grades between 1.5% and 2% across broad widths. The mineralization is open in all directions.
Chiefs trend is a shallow, high-grade copper-gold target.
Historical exploration at the Whitehorse copper project resulted in a non-compliant resource estimate of 10 million tonnes at 1.5% copper plus gold and silver credits. The project was mined by open pit (1967-71) and from underground (1972-82). There are 30 known deposits and prospects within a contiguous 35- by 5-km area.
Gladiator optioned the Whitehorse copper project in 2022 and later earned a 100%-interest in the property. The company expects its current offering to close on or about June 21 subject to customary closing policies.
More information about the Whitehorse project is available at www.GladiatorMetals.com.
