Quartz raises US$1M to fund Phase 5 drilling at BC gold-silver project
What's the deal? Quartz Mountain ResourcesDealroom has a profile for this one. Try Dealroom → (TSXV:QZM) is raising US$1M in a non-brokered private placement to fund Phase 5 drilling at its wholly owned Maestro gold-silver project near Houston, British Columbia. The offering splits into 1,550,000 units at US$0.29 for US$454.7K and 1,875,000 flow-through units at US$0.29 for US$550K.
Why now? Phase 5 core drilling is scheduled to begin on October 20, 2026, targeting an expansion of the open-ended Prodigy discovery beyond its current footprint.
What's the endgame? Four earlier phases have already drilled 12,951m across 21 holes at Prodigy. Phase 5 will test geophysical targets north, south, and east of the current drilling, including chargeability anomalies that point to sulphide mineralisation.
The current Prodigy footprint measures roughly 100–200m wide, 600m long, and up to 500m deep. It hosts near-surface gold-silver-molybdenum mineralisation and higher-grade veins tied to an underlying porphyry system.
Who's in? The financing includes three insiders: two members of the Dickinson Control Group and Sutton Group Inc.Dealroom has a profile for this one. Try Dealroom → Proceeds from the flow-through units will fund the drilling, while unit proceeds go to general working capital.
Apex Diamond Drilling Ltd.Dealroom has a profile for this one. Try Dealroom → of Smithers, BC, will run the program, with HEG and AssociatesDealroom has a profile for this one. Try Dealroom → providing geological services. The company holds drill permits covering 37 additional sites and reports a working capital position of US$1.69M before the raise.
The signal: This is a modest raise, sitting in the bottom range of tracked rounds. For a junior explorer, though, the mix of flow-through and standard units is a familiar route to keep drills turning while spreading tax incentives to insider backers.
