Canada Strategic Metals (TSX-V:CJC, StockForum), a Montreal-based exploration stage company engaged in the exploration and development of Canadian assets, announced today that the company had commenced a drilling campaign at its Sakami property.
The campaign is expected to last until December 31, 2013. There are to be ten diamond drill holes approximately 1,500 metres each. The work is to take place in areas 25 and 26, with area 26 already possessing historical results.
Jean-Sébastien Lavallée, president of the company, commented, “Canada Strategic Metals is very excited to start drilling program on this promising project that have already report many gold discovery and impressive gold intersection in drilling in many zones of the property.”
The news release later added that the company is in the process of arranging non-brokered private placements of up to $0.5 million in two separate offerings.
Canadian Strategic Metals was in the news recently when the company reported in its 2013 Annual and Special Meeting.
Shares were up 14.29% on the news to $0.04 per share.
Currently there are 54,054,905 outstanding shares with a market cap of $2.16 million.