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Fairchild Gold (TSXV: FAIR) has secured a significant boost to its exploration efforts after completing a private placement that raised nearly $1.44 million (CAD$1,994,400). This financing will enable the company to accelerate its exploration program at the Nevada Titan project, a district-scale opportunity in Nevada’s historic Goodsprings mining district, just 31 miles southwest of Las Vegas.
The company’s share price has reflected growing investor confidence, rising from $0.025 (CAD$0.035) at the end of July to trade in the $0.058 and $0.061 (CAD$0.08 to CAD$0.085) range today. Shares reached as high as $0.072 (CAD$0.10) last week, representing a roughly 129% increase over this period. Alongside the price rise, trading volume has also seen a marked uptick in the last month, signaling heightened market interest.
The private placement was conducted in several tranches, with the company upsizing the offering twice after strong demand. Initially announced in the middle of August, the Company looked to raise up to $870,000 (CAD$1.2 million) through the sale of 20 million units at $0.043 (CAD$0.06) each. Each unit was comprised of one common share and one-half of a warrant, with a full warrant allowing the holder to purchase an additional share at $0.072 (CAD$0.10) for three years from closing.Â
The placement was completed under the Listed Issuer Financing Exemption (LIFE Exemption), a Canadian regulatory framework that allows listed companies to raise capital without the usual hold period restrictions on newly issued securities. This means that the shares and warrants issued through this offering are immediately free-trading, providing liquidity and flexibility for investors. To qualify for the exemption, the company met conditions including being a reporting issuer with securities listed on a recognized exchange for at least 12 months, filing all required disclosure documents timely, and providing certificates from the CEO and CFO to confirm the accuracy of all material information. The company also ensured that investors received all material facts not previously disclosed within the past year and adhered to limits on dilution and disclosure obligations.
With the private placement now closed, Fairchild Gold is funded to advance its exploration priorities over the coming months. The Nevada Titan project consists of a large, 9.27 square miles (24 square km) land package in a prolific mineral belt known for producing tens of millions of ounces of gold and silver. The planned exploration program will build on recent surface sampling that identified significant copper mineralization, including malachite and chrysocolla, across historic mine sites such as Copperside, Azurite, Shenandoah, and Fitzhugh Lee.
The program targets a better understanding of the copper-gold skarn system and possible porphyry-style deposits in this district. Activities will include detailed geological mapping, geochemical and geophysical surveys, and ultimately a maiden drilling campaign slated for later in 2025. Early data shows promising copper-bearing breccias and oxide mineralization with structural features favorable for metal deposits, all of which the company expects will help define high-potential targets and support resource modeling efforts.
A portion of the funds will also be allocated to general working capital to ensure smooth operations. The company’s recent financing success and stock price momentum demonstrate investor appetite for exposure to high-quality exploration in a mining-friendly jurisdiction like Nevada.
Overall, by closing this private placement, Fairchild Gold has laid the financial groundwork to advance its district-scale Nevada Titan project well into 2026. The company’s exploration program supported by this funding could unlock meaningful value by identifying new mineralized zones and progressing toward potential resource delineation.Â
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