Typhoon Exploration Inc. was unable to complete the acquisition of the remaining 50% stake in the Fayolle gold project in Quebec from joint venture partner Hecla Mining Co. affiliate Hecla Quebec Inc. due to lack of financial resources.

The company said Dec. 14 that it is looking for a new partner to fully acquire the project.

Additionally, the company is planning to raise up to C$500,000 from a private placement to finance exploration work on its properties.