- Auteco Minerals (AUT) has been placed in a trading halt and is set to release details about a capital raise
- The company will remain in the halt until July 8, or when the announcement is released — whichever occurs first
- On June 30, Auteco announced a maiden inferred mineral resource for its Pickle Crow Project in Canada
- Auteco is now widening its drilling program to expand the resource, which remains open in all directions
- Company shares last traded for 15 cents each on July 3
Auteco Minerals (AUT) has been placed in a trading halt and is set to release details about a capital raise.
The company will remain in the halt until July 8, or when the announcement is released — whichever occurs first.
Almost a week ago, Auteco announced a maiden inferred mineral resource for its Pickle Crow Project in Ontario, Canada.
The resource sits at 830,000 ounces of gold at 11.6 grammes per tonne and came from a review of existing data at the project.
Since its maiden drill program began last month, Auteco has drilled a total of nine holes, with all holes pending analysis.
Once analysed, the results will form part of the resource update that is expected to be completed later this year.
“This maiden JORC Resource, which has been independently calculated, confirms Pickle Crow is a significant, high-grade deposit with immense growth potential,” Executive Chairman Ray Shorrocks said at the time.
Auteco is now widening its drilling program to expand the resource, which remains open in all directions.
Company shares last traded for 15 cents each on July 3.