- Kingsmen Resources Ltd. (TSXV: KNG, OTCQB: KNGRF) initiates a 14-hole drill program at Las Coloradas silver project.
- The company secures $1.135 million through a non-brokered private placement.
- Las Coloradas project shows promising results with surface samples up to 600 grams of silver.
Kingsmen Resources Ltd. (KNG) has reported major developments at the Las Coloradas silver project located in Mexico's Parral mining district. The company successfully raised $1.135 million through a non-brokered private placement and maintains a strong working capital position of $2 million. Kingsmen, with 28 million shares outstanding, is actively pursuing an expansive drilling campaign to uncover high-grade silver deposits.
The Las Coloradas project is underway with a 14-hole drilling program aimed at exploring the project's promising mineral potential. Recent 3D IP geophysical surveys have revealed expanded mineralized zones spanning 1.7 kilometers, while surface samples have shown impressive silver yields, with readings up to 600 grams. This strategic development is set against the backdrop of reviving a historically productive silver mine, reinforcing Kingsmen's commitment to tapping into the rich resources of the Central Mexican Silver Belt.
Supported by a top-tier exploration team, Kingsmen Resources Ltd. (KNGRF, Financial) remains focused on revitalizing the Las Coloradas site and positioning itself as a leading explorer in the Parral mining district. With its robust financial standing and expert team, Kingsmen is set to unlock significant value from this promising asset.
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