Maverick Gold and Silver Corporation has closed the first tranche of a planned private placement, raising C$554,000 to support working capital and general corporate purposes as the exploration company moves its Nevada and British Columbia projects toward further drilling.
The company paid C$22,000 in cash finder fees and issued 440,000 additional finder warrants. The securities carry a statutory hold period ending Feb. 17, 2027, and Maverick said it expects to close one or more additional tranches toward the offering’s planned maximum of C$1. 1 million.
Two days before the financing update, the U.S. Bureau of Land Management acknowledged Maverick’s notice of intent for work at the Gator property in Nevada. The notice covers access-road construction, eight drill pads and drilling at the Gator South and GSX targets, but the program still requires the company to post a financial reclamation bond and receive confirmation that the BLM has accepted it.
Maverick has outlined a potential gold-silver system along an approximately seven-kilometre north-south structural corridor. The planned holes are intended to test areas beneath surface alteration and geochemical anomalies, including a GSX zone where silicified sediments contain anomalous gold, mercury and arsenic across about 400 by 700 metres.
The company has also completed a five-hole, 1,316-metre drill program at its Silver Vista property near Smithers, British Columbia. Samples from the first two new holes have been sent for laboratory analysis, while samples from the remaining holes were scheduled for shipment; no new assay results were announced in the completion update.
Those results are exploration indicators rather than a mineral resource or a demonstrated economic deposit, and the company has described Jericho as a property it intends to advance toward drilling in the coming months.