- Alaskan explorer White Rock Minerals (WRM) has entered a trading halt while it plans an equity raising
- The company will soon begin an airborne electromagnetic survey and over 10,000 metres of drilling at its Red Mountain Project in Alaska
- It isn’t clear how much the materials stock is looking to raise or what it will use the money for
- However, with major exploration plans in the pipeline, the funding may benefit the 2021 field program
- The trading halt will remain in place until Wednesday, April 21, at the latest
- White Rock Minerals’ shares last traded at 61 cents
White Rock Minerals (WRM) has entered a trading halt while it plans an equity raising.
Recently, the company inked its plans to conduct an airborne electromagnetic survey and drilling within its Red Mountain Project in Alaska. White Rock controls almost 800 square kilometres of mining claims within a district with world-class potential.
The 1900-line-kilometre survey and 10,000-metre drilling campaign is part of White Rock’s 2021 field program.
The survey will begin later this month and focus on the Last Chance gold target as well as northern targets. This program will aim to uncover intrusion-related gold system mineralisation and discover new anomalies.
At the end of last month, the miner secured three diamond drill rigs ahead of the program, which will test for extensions to the Dry Creek zinc-silver deposit, new volcanogenic massive sulphide (VMS) targets and orogenic gold mineralisation.
At this stage, it isn’t clear how much the materials stock is looking to raise or what it will put the funding towards. However, with major exploration plans in the pipeline, the funding may benefit the 2021 field program.
The trading halt will remain in place until Wednesday, April 21, at the latest.
White Rock Minerals’ shares last traded at 61 cents on Friday, April 16.