by Greg Klein | Updated June 30, 2015
With an oversubscribed private placement that closed on $997,344 the previous afternoon, Electra Stone TSXV:ELT announced the beginning of exploration on its British Columbia nephrite jade projects on June 30. Work will initially focus on the company’s recently acquired Polar placer jade project, about a kilometre from the Polar Jade mine, one of Canada’s most important jade operations. The team will also explore Electra’s other northern B.C. claims.
This Phase I program follows an oversubscribed private placement that “demonstrates the strength of Electra’s offering in these difficult markets,” said president/CEO John Costigan. The world’s first publicly traded jade exploration company, Electra also mines chalky geyserite, or aluminum silica, from a quarry on Vancouver Island.