- Culpeo Minerals (CPO) places its shares in a trading halt pending the release of a capital raising announcement
- The company will remain in the halt until the earlier of Thursday, October 13, or when the announcement is released to the market
- Yesterday, Culpeo announced it had extended the surface copper and gold mineralisation at the Anico prospect within the Quelon project in Chile
- The zone was extended by 500 metres to the south and now covers an area of 800 by 1000 metres
- Shares in Culpeo last traded at 14 cents on October 7
Culpeo Minerals (CPO) has placed its shares in a trading halt pending the release of a capital raising announcement.
The company will remain in the halt until the earlier of Thursday, October 13, or when the announcement is released to the market.
Culpeo is yet to disclose how much it intends to raise and what it will use the funds for once received.
Yesterday, Culpeo announced it had extended the surface copper and gold mineralisation at the Anico prospect within the Quelon project in Chile.
The zone was extended by 500 metres to the south and now covers an area of 800 by 1000 metres.
The mineralisation was extended following Culpeo receiving new assays from rock chip sampling and mapping which returned up to 1.88 per cent copper, 4.1 grams per tonne (g/t) gold and 97.5 g/t silver.
Culpeo believes the extended area of mineralisation was coincident with a geophysical anomaly.
Follow-up drilling will now be undertaken to test the features of the anomaly.
Shares in Culpeo last traded at 14 cents on October 7. The company has an $8.34 million market cap.