Tuesday, 1st July 2008 (253 views)

Aultra Gold has announced it is begun the process of finding funding to further advance its gold projects.

The company estimates initial funding could be received within two weeks.

Alongside funding, Aultra Gold is also seeking candidates for acquisition and mergers in order to increase the size and diversification of the company.

"We are acquiring properties that allow cost effective evaluation and development, with potential for strong cash flow," said Rauno Perttu, president of Aultra Gold.

He said the strategy pursued by the company is to raise capital to advance Aultra Gold's properties such as Jungo and Basin Gulch and to acquire more high quality properties.

The Basin Gulch property in Montana has as estimate of over 2.45 million ounces of gold.

Exploration at the property consisted of 323 drill holes across 90,000 feet and 17,000 feet of trenches.

Jungo, in Nevada, produced a sample of 0.1 ounce per ton of gold during exploration.

 

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