(Ecofin Agency) - Miner Burey Gold which runs the Giro gold project, in DR Congo, raised $11.6 million by placing 215,000 shares at 5.4 cents per share.

The firm said it will use the proceeds of the fundraising to advance exploration at Giro. An RC (reverse circulation) drill rig was mobilized to conduct infill drilling at the Kebigada prospect in order to define a maiden inferred mineral resource at the Giro project. The current priority is a significant RC drill programme at the Douze Match combined with targeted diamond drilling to better understand structural controls.

“With these placement funds Burey can truly begin uncovering the potential that we have been glimpsing so far at Giro and allows for long term planning,” said Burey Gold chairman, Klaus Eckhof.

The Giro gold project is located 30km from the world-class Kibali gold project, owned by Randgold Resources, which holds a resource of 17 million ounces of gold and produced in 2015, 642,720 oz.

Louis-Nino Kansoun