- Auroch Minerals (AOU) has entered a trading halt regarding a proposed capital raise
- The materials stock is about to commence drilling at the Ragless Range target within its Arden project to test zinc mineralisation
- Auroch is also progressing drilling and survey work at the Nepean Deeps target in WA
- It isn’t clear how much is being raised or how the company will spend the money but these details will be revealed by October 28
- AOU last traded at 19 cents on Monday, October 25
Auroch Minerals (AOU) has entered a trading halt regarding a proposed capital raise.
The company hasn’t disclosed how much it plans to raise nor how it will spend the funds but all should be revealed by Thursday, October 28 which is when AOU expects to come out of the trading halt.
Auroch did announce yesterday it will soon begin a drilling program at the Arden project in South Australia.
Three to five- diamond holes will be drilled at the Ragless Range target to test sedimentary exhalative zinc mineralisation.
More specifically, the company will largely focus on a significant gravity anomaly that spans over two kilometres and may indicate thickened mineralised horizons of high-grade zinc mineralisation.
Auroch is also progressing drilling at the Nepean Deeps target within the namesake project in Western Australia alongside survey work which is testing massive nickel sulphides.
Whether or not the capital raise will support ongoing exploration is not yet known.
AOU last traded at 19 cents on Monday, October 25.