King Global Ventures Closes Oversubscribed Financing for Mining Projects

King Global Ventures Inc. has successfully closed a financing round that exceeded expectations, raising a total of USD $2,588,500 through the sale of 6,471,250 units. Each unit consisted of one common share and one common share warrant, with each warrant entitling the holder to subscribe for one additional common share at a price of US $0.75 for a period of two years from the date of closing. The funds raised will be utilized to continue exploration and drilling on the company’s Iron Horse and Black Canyon Projects.

The Black Canyon Project, located in Yavapai County, Arizona, covers a total area of 3,800 acres and includes 15 former operating mines, such as the past-producing Howard Copper Mine. This property is situated approximately 100 kilometers (64 miles) north of Phoenix, Arizona. The project represents an early-stage exploration opportunity targeting copper, gold, silver, and zinc, with a specific focus on Volcanogenic Massive Sulphide (VMS) mineralization. The geology of Yavapai County, Arizona, is notable for its variety of base and precious metal deposit types, with a significant history of exploration, discovery, and mining operations.

The Howard Copper Mine Property, a key component of the Black Canyon Project, is situated on 78 acres of patented land approximately 100 kilometers (64 miles) north of Phoenix, Arizona. Discovered in the early 1920s, the mine saw small-scale production and development focused on high-grade copper. An estimated 100,000 tonnes of copper grading between 3-5% copper were mined from the property until it was closed in 1942 due to the inability to secure fuel rations during World War II. Historical reports indicate that the main shaft was sunk to the 900-foot level, but no ore was mined below the 500-foot level.

Additionally, the company has also announced the acquisition of the Mikwam Gold Property, located in Noseworthy Township within the Abitibi Greenstone Belt of the Superior Province, northeastern Ontario. This property is situated along the Casa Berardi Deformation Zone, which hosts Detour Gold’s Burntbush Property. The Mikwam Property is hosted within Timiskaming-aged polymictic conglomerate and greywacke units and contains disseminated and vein-hosted gold mineralization associated with quartz-carbonate veins and pyrite mineralization.

King Global Ventures Inc. is focused on the exploration of precious and base metals in North America. The company’s exploration efforts are aimed at identifying and developing new mineral resources, with a particular emphasis on the Black Canyon and Mikwam properties. The successful completion of this financing round will provide the company with the necessary capital to advance its exploration plans and potentially unlock significant value in these promising projects.