Northern Skye Resources, the operator of the project, has recently identified the targets for phase 1 drill program by undertaking an airborne geophysical survey of 298.5 line kilometers followed by prospecting, geological mapping and sampling.
The Hébécourt Project located in the Abitibi greenstone belt south of Porcupine-Destor Fault, is estimated to host lode gold shear zone related gold bearing deposits as well as sulfide base metal deposits.
The assay results of phase 1 program, which tested certain geological interpretations resulting in the identification of a number of lode gold type and volcanogenic massive sulfide (VMS) type targets, are pending.
The Hébécourt Project consists of 91 claims totaling 3,685ha in northwestern Québec.
Meanwhile, GBM has completed its non-brokered offering of flow-through common shares announced in August 2012. The proceeds of the private placement will be invested in the exploration of the Hébécourt Project.
Golden Bridge Mining CEO Charles Qin said, "We are pleased with the results of our financing efforts despite ongoing volatility in resource capital markets, and grateful for the investor support that made it possible. As a result of this financing, the Corporation is in a strong position to execute its near-term business goals going forward."
GBM, currently involved in the exploration of the project, has scope to earn up to 50% stake in it.
