- Lodestar Minerals (LSR) enters a trading halt while it plans the details of an upcoming capital raising
- The company will remain in the halt until October 14 or when an announcement is made
- Just yesterday, Lodestar confirmed historical gold anomalies at the Coolgardie West tenement in Western Australia
- Following its review, Lodestar determined the gold and nickel anomalies are compelling targets and will undertake multi-element geocheimcal sampling
- Shares in Lodestar last traded at one cent on October 6
Lodestar Minerals (LSR) has entered a trading halt while it plans the details of an upcoming capital raising.
The company will remain in the halt until October 14 or when an announcement is made, whichever is earlier.
Lodestar is yet to disclose how much it intends to raise or what it will use the funds for once received.
Just yesterday, Lodestar confirmed historical gold anomalies at the Coolgardie West tenement in Western Australia.
Lodestar recently undertook a review of historical data regarding exploration that took place by Anaconda Australia up until 1971.
Resolute then carried out geochemical sampling in 1996 which led to the identification of a 1.3-kilometre long gold anomaly. This returned a peak value of 23 parts per billion gold.
Elevated nickel and chrome was then identified, grading up to 567 parts per million nickel and 75 parts per million copper.
Following its review, Lodestar determined the gold and nickel anomalies are compelling targets and will undertake a field program.
This program will include multi-element geochemical sampling to target gold, nickel and lithium potential.
Areas of interest will be followed up by a maiden drilling program.
Shares in Lodestar last traded at one cent on October 6. The company has a $12.90 million market cap.