- Volt Resources (VRC) has entered a trading halt while it inks out the details of a capital raise
- The gold and graphite explorer will remain in the halt until February 19 or when an announcement is made, whichever occurs first
- On February 10, Volt began its drilling program at the highly prospective Kouroussa permit in Guinea
- The company has already drilled 31 auger holes out of the planned 116 and results are expected to be received later in the quarter
- The company will also undertake drilling across the Fadougou, Nzima and Konsolon permits to extend the areas of high soil anomalies
- Shares in Volt last traded at 1.9 cents on February 15
Volt Resources (VRC) has entered a trading halt while it inks out the details of a capital raise.
The gold and graphite explorer will remain in the halt until February 19 or when an announcement is made, whichever occurs first.
Volt is yet to disclose how much it intends to raise or what it will use the funds for once received.
On February 10, Volt began its drilling program at the highly prospective Kouroussa permit in Guinea.
The company has already drilled 31 auger holes out of the planned 116 and results are expected to be received later in the quarter.
The aim of this drilling is to extend the cover of areas with high soil anomalies.
Volt also revealed it has planned a 356-hole auger drilling program at the Fadougou permit to test areas with a large number of artisanal workings.
Furthermore, the company completed a review of auger drilling programs which will be undertaken across the Nzima and Konsolon permits.
More than 600 holes will be drilled across both prospects to extend the area of high soil anomalies where up to 14.5g/t gold and 20.25g/t gold has been intersected.
Shares in Volt last traded at 1.9 cents on February 15. The company has a $41.09 million market cap.