CopAur raising $3.0 million for Nevada gold exploration
CopAur Minerals Inc. [CPAU-TSXV] has announced the negotiation of a private placement financing that is expected to raise $3.0 million. The company said proceeds raised will be used to advance development on the Kinsley Mountain gold property in Nevada, and secure necessary permits to launch preliminary exploration work at the Troy Canyon property, which is also located in Nevada.
CopAur said it plans to issue 30 million units priced at 10 cents each, with each unit consisting of one common share and one-half of a share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share. That option can be exercised for two years from the date of issuance at a price of 20 cents per share.
The warrants will be subject to an expiry acceleration provision, if the share price exceeds 30 cents over 10 consecutive trading days, commencing four months from the date of issuance.
CopAur shares were unchanged at 11 cents, Thursday and trade in a 52-week range of 20.5 cents and $0.08.
The Kinsley project is located on unpatented claims on Federal land managed by the U.S. Department of Interior, Bureau of Land Management and is subject to regulation by branches of the Nevada Department of Environmental Protection.
Kinsley Mountain is a past producer that yielded approximately 130,000 ounces of near-surface open pit oxide gold between 1995 and 1999. The project hosts a current mineral resource of 418,000 indicated ounces at 2.63 g/t gold and 117,000 inferred ounces at 1.51 g/t gold. That includes 302,000 ounces averaging 6.11 g/t gold within the high-grade Western Flank Zone.
The mine was closed in 1999 after the previous owner declared bankruptcy.
In a press release on October 7, 2025, CopAur said it had submitted a Temporary Discharge Permit Application for Closed Facility Exploration to the Nevada Division of Environmental Protection.
The application seeks authorization to sample the closed and reclaimed heap leach pad to perform metallurgical testing to assess the potential for the material to be further processed in a future mining operation.
This is part of the company’s evaluation for developing a district-scale gold project in the extensive sediment-hosted Carlin-type gold mineralization surrounding the former open pit area.
Kinsley Mountain is located 90 kilometres south of the Long Canyon mine (currently in production under the Newmont/Barrick joint venture, Nevada Gold Mines).
CopAur was in the news last year when it agreed to acquire all the issued and outstanding shares of Chester Holdings Inc., a private British Columbia company controlled by Chester Millar, and its subsidiary Chester Holdings USA.
Millar is a pioneer of heap leaching, who fundamentally changed the economics of gold production, enabling the development of numerous low-cost, high-margin gold mines.
Chester Holdings USA Inc. holds rights under a 2017 lease agreement that grants for a 20-year term to access, seek permits and mine and process tailings and bedrock from the Royal Vindicator property in Haralson County, Georgia, U.S.