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- Sky Metals (SKY) enters a mid-week trading halt while it plans the details of an upcoming capital raising
- The company will remain in the halt until October 29 or until more details are released, whichever occurs first
- On October 25, Sky announced it had intersected additional wide, strong, primary zones of tin mineralisation from the 3KEL Tin-Copper Target in NSW
- Grades peaked at 4.23 per cent tin and 1.48 per cent copper, and subject to establishing a permanent drilling water supply, diamond drilling will be undertaken
- Shares in Sky Metals last traded at 9.8 cents on Tuesday, October 26
Sky Metals (SKY) has entered a mid-week trading halt while it plans the details of an upcoming capital raising.
The company will remain in the halt until October 29 or until more details are released, whichever occurs first.
Sky is yet to disclose how much it intends to raise or what it will use the funds for once received.
On October 25, Sky announced it had intersected additional wide, strong, primary zones of tin mineralisation from the 3KEL Tin-Copper Target.
The 3KEL Target is part of the Doradilla Tin-Polymetallic Project, located in NSW roughly 45 kilometres southeast of Bourke.
Results include 37 metres at 0.31 per cent tin from 91 metres, including one metre at 4.23 per cent tin and 0.20 per cent copper from 121 metres.
3KEL remains open along strike for more than two kilometres and at depth for the entire strike.
The consistency of the mineralisation demonstrates the strong continuity of the tin-copper mineralisation at 3KEL.
Subject to establishing a permanent drilling water supply, Sky will undertake diamond drilling to further explore the depth and strike extents of 3KEL.
Shares in Sky Metals last traded at 9.8 cents on Tuesday, October 26.
