Red Lake Exploration, Inc. (OTCBB: RLKX) acquires, explores and develops natural resource properties. Today, Red Lake Exploration, Inc. announced that is has raised one million dollars through a private placement. According to the company, it will use most of the money to acquire the Farellon property it is currently exploring, and use the rest of the money to investigate other properties including the Camilla and Santa Rosa projects located in coastal Chile.
Red Lake Exploration, Inc. is currently managing three main projects. The Farellon project is located in the Canadalaria iron oxide copper belt. Other companies are also exploring this region, which has demonstrated promising reserves of Copper and Gold.
The next project, in its early stages, is on the Camilla Breccia property. The company has completed surface mapping, sampling and geophysical analysis. Preliminary results have suggested promising amounts of Copper and Gold.
The final project is on the Santa Rosa property. This project is in advanced stages, with Red Lake having completed surface mapping, trenching, and surface geophysics. Similar to the Camilla Breccia property, Santa Rosa also shows promising results of Iron and Copper.
Red Lake Exploration, Inc. is competently managed by President Caitlin Jeffs and Director Michael Thompson. After graduating from the University of British Columbia, Jeffs worked for several mineral exploration companies, including Placer Dome PLA Inc, and Goldcorp Inc. Thompson graduated from the University of Toronto and has also worked for several exploration companies including Tri Origin Exploration Ltd., Placer Dome CLA Inc. and Goldcorp Inc.
Let us hear your thoughts: Red Lake Exploration, Inc. Message Board