Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Silver Swan Group opens SPP to boost exploration funds for Quinns VMS and Stakewell projects

Silver Swan Group (ASX: SWN) has now opened a share purchase plan (SPP) on top of the $5 million placement announced at the end of last month.

The SPP will be priced at $0.10, the same price as the placement, for a subscription of up to an additional $15,000 (or 150,000) new shares.

The potential funding injection will be allocated to diamond and reverse circulation drilling at the company's Quinns VMS and Stakewell Gold projects.

Quinns is strategically located in the Murchison region of Western Australia.

The nearby Stakewell has had some recent very encouraging intersections, including 7 metres at 23.7 grams per tonne (g/t) gold from 86 metres, 7 metres at 10.3g/t gold from 30 metres, and 8.5 metres at 9.0 g/t gold from 207 metres.