- Southern Hemisphere Mining (SUH) has entered two consecutive trading halts ahead of a capital raise announcement
- At the end of last week, the copper and gold explorer kickstarted an exploration program at its wholly-owned Colina2 Gold Project in Chile
- Exploration initially focused on trenching work to identify the source of a previously found gold-in-soil anomaly
- Depending on how this exploration work goes, Southern Hemisphere will follow-up with a reverse circulation drilling program
- Company shares last traded for 3 cents each on July 17
Southern Hemisphere Mining (SUH) has entered two consecutive trading halts ahead of a capital raise announcement.
The company will remain in a trading halt until normal trading on Monday, July 27, unless the announcement is made to the market earlier.
At the end of last week, the copper and gold explorer kickstarted an exploration program at its wholly-owned Colina2 Gold Project in Chile.
Exploration began with trenching work aimed at identifying the source of a significant gold-in-soil anomaly that was announced on March 16.
Southern Hemisphere conducted a data review of the soils, drilling and geophysical data and the reinterpretation of the data suggests the gold-in-soil anomaly may not have been adequately tested.
Some quartz veinlets smaller than one millimetre with a central suture and hematite halo were observed. Results are expected within three to four weeks.
The Chile-focused miner will also conduct reverse circulation drilling, depending on the outcomes of the current exploration work.
Company shares last traded for 3 cents each on July 17.