Official Website: http://www.empireminingcorp.com/s/Home.asp
Company Profile
Empire Mining Corporation is a mineral exploration and development company operating principally in and around the under-explored Tethyan Belt. The company is currently developing its Bursa Property in Turkey and evaluating various high value exploration and development stage projects for possible acquisition.
Empire has entered into an agreement whereby it can earn a 65% interest in the Bursa copper-molybdenum-gold porphyry property located in western Turkey.
The Bursa Property is located 120km south of Istanbul and covers 429km2 within a belt of demonstrated copper and molybdenum porphyry systems in Bursa and Kutahya provinces. Past drilling by Rio Tinto on one of these systems, Karapinar, intersected 0.36% Cu, 51ppm Mo, and 0.1ppm Au over 221 meters from surface and 0.31% Cu, 152ppm Mo, and 0.07ppm Au over 54m at a depth of 273 meters in the same hole. A number of drill targets on the Property with potential for economically important porphyry and associated skarn systems remain untested.
Event
On August 13, 2008 – the TSX Venture Exchange Daily Bulletin reported that the TSX Venture Exchange had accepted for filing documentation with respect to a Non-Brokered Private Placement announced June 27, 2008 by Empire Mining Corporation
Details of the Private Placement
Number of shares: 6,933,332 shares
Warrants: 3,466,666 share purchase warrants to purchase 3,466,666 shares
Number of Placees: 5 placees
Purchase Price: $0.30 per share
Private Placement Participants
Passport Materials Master Fund for 3,333,333 shares
Sprott Asset Management Inc. for 3,333,333 shares
Do Your Own Due Diligence !
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Last update : 12-11-2008 07:49
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