Corvus Gold, a junior gold explorer and developer, recently announced that RCF VI had acquired approximately 5% of the Company’s outstanding common shares via a private placement of CAD $2 million. Corvus Gold’s primary focus is advancing its wholly-owned North Bullfrog project, a new gold discovery in Nevada, USA.
RCF Senior Partner, Russ Cranswick, said that the Corvus Gold investment was part of the firm’s exploration funding strategy to enable companies with strong underlying potential to aggressively develop and test new targets.
“Our exploration funding strategy has been designed to populate the future development pipeline by investing in early stage projects with recognized potential, such as Corvus Gold,” said Mr Cranswick.
In the Company’s announcement, CEO Jeff Pontius said that, “Bringing Resource Capital Fund VI L.P. into the Corvus family of major long-term investors is a significant accomplishment as it continues to build the depth of our shareholder base.
“In addition the vote of confidence that this brings to the Company and its projects is substantial, particularly in the challenging markets that junior explorers face today. The proceeds from this financing will give the Company added flexibility to act decisively on exploration success from its ongoing drilling program well into 2016. Driven by the strong results from the Company’s recent North Bullfrog PEA study and new exploration discoveries in the large and untested Eastern portion of the North Bullfrog area, Corvus is rapidly building what could be a new Nevada high-grade gold District.”
To read the full announcement from Corvus Gold, please visit the Company’s website.