08:37 AM EDT, 03/11/2024 (MT Newswires) -- Mirasol Resources Ltd. ( MRZLF ) said over the weekend that it is raising $3.0 million in a private placement of up to 5 million units priced at $0.60 apiece.

Each unit comprises one share and one-half of a warrant. Each warrant is exercisable at $0.80 per share for 12 months.

Mirasol plans to use the proceeds to expand its exploration programs and for general corporate purposes. The company is advancing its flagship Sobek copper-gold project in Chile and the Virginia silver deposit in Argentina.

The company gained 1.7% last Friday.