- Equus Mining (EQE) has entered a trading halt ahead of a capital raise announcement
- Most recently, the miner confirmed shallow and broad mineralised zones at the Taitao Pit, which is part of the Cerro Bayo Project in Chile
- Equus completed 1385 metres of drilling in May, which yielded positive gold and silver grades
- The company is gearing up for a maiden resource estimate and a mining restart study
- Company shares last traded for 0.9 cents each on July 16
Equus Mining (EQE) has entered a trading halt ahead of a capital raise announcement.
The trading halt is set to last until the commencement of trading on Tuesday, July 21.
News flow has been relatively slow for the Australian exploration company. However, on June 25, it confirmed some shallow and broad mineralised zones that may be suitable for an open-pit mining operation.
In May, Equus completed 1385 metres of drilling at the Taitao Pit which is part of the Cerro Bayo Project in Chile. Drilling aimed to confirm historical drill data used for historic resource modelling.
The recent drilling results include 19 metres at 1.26g/t gold and 10g/t silver from 68.5 metres, including 9.6 metres at 1.93g/t gold and 12.3g/t silver from 77.92 metres, and 12.5 metres at 1.45g/t gold, 30.9g/t silver from 36.8 metres.
In the June release, Managing Director, John Braham, claimed Cerro Bayo is “one of the most exciting near-term, shovel-ready projects on the ASX.”
He also disclosed plans to commence a maiden resource estimate and a mining restart study based on the inherited historical data.
Company shares last traded for 0.9 cents each on July 16.