- Odyssey Gold (ODY) has ended the week in a trading halt pending an upcoming capital raising
- The company will remain in the halt until June 1 or when more details are released, whichever occurs first
- On May 26, Odyssey revealed it had struck more visible gold at its Stakewell tenements in Western Australia
- The gold was identified at the newly discovered Blue Gino Prospect, which has never been drilled by previous explorers
- Additional exploration efforts are now being accelerated to develop drill targets for future drilling programs
- Shares in Odyssey last traded at 13.5 cents on May 27
Odyssey Gold (ODY) has ended the week in a trading halt pending an upcoming capital raising.
The company will remain in the halt until June 1 or when more details are released, whichever occurs first.
Odyssey is yet to disclose how much it intends to raise or what it will use the funds for.
On May 26, Odyssey revealed it had struck more visible gold at its Stakewell tenements in Western Australia.
The gold was identified at the newly discovered Blue Gino Prospect, which has never been drilled by previous explorers due to shallow cover.
The gold was identified in near-surface quartz veining and is also believed to be associated with one to two per cent pyrrhotite sulphide.
Additional exploration efforts are now being accelerated to develop drill targets for future drilling programs.
Odyssey also revealed it has successfully completed its maiden drilling program at the Bottle Dump Prospect, which has already identified initial visible gold.
Results are pending and planning for the next phase of drilling is already well-advanced.
Shares in Odyssey last traded at 13.5 cents on May 27. The company has a $71.89 million market cap.