12:04 PM EDT, 05/24/2024 (MT Newswires) -- Juggernaut Exploration ( JUGRF ) on Friday said it raised $3.3 million in a private placement of share units to fund a 5,000-meter drill program on the Bingo and Midas copper-gold properties in British Columbia.

The company placed 27.4-million units priced at $0.1215 and made up of a share and a three-year warrant to buy a second share for $0.14.

"Very promising results from 2023's maiden drill program confirmed strong potential for 'Surebet' style intrusive-related gold-base metal lodes at Bingo," said Quinton Hennigh, the company's technical advisor. "In addition, follow up drilling at Midas continues to demonstrate the presence of a large volcanogenic massive sulfide system in need of further work."

Juggernaut shares were last seen up $0.005 to $0.105 on the TSX Venture