Sacre-Coeur Minerals has announced that it has successfully raised the sum of CAD$1.225M  needed to expand its local operations through   the sale of shares to private investors. In a release, the Canadian based mining company operating in Guyana disclosed that a  non-brokered private placement had raised gross proceeds of CAD $1,225,000.
Under the terms of the private placement, the Company issued 1,750,000 Units  at CAD $0.70 per Unit to a small group of accredited investors.
CEO of the Company,  Gregory Sparks,  said that  the response to the offering of shares by the Company had been so enthusiastic that it had been oversubscribed.
“We are delighted with the investor response to our offering. This additional capital will give us added flexibility as we ramp up alluvial gold production while continuing with our drilling programme for hard-rock targets on the Million Mountain trend,” he said.
Sacre-Coeur has spent the past few years testing and advancing a number of prospective targets in Guyana, predominantly  focused on gold mineralization, but also diamonds.
The Company more recently sharpened its focus on the potential of alluvial gold deposits, which require comparatively low capital expenditure compared to hard rock mines .
The company presently has an interest in approximately 1000 square kilometres of mineral properties in Guyana, including one at  Million Mountain in the Mazaruni mining district.