Gold and copper exploration and development company Empire Metals has raised £3-million to advance exploration at its Pitfield project, in Western Australia. This was done by way of an oversubscribed placing of 75 000 000 new ordinary shares of no par value in the capital of the company (placing shares), with new and existing shareholders in the company, at a price of 4p each.
Gold and copper exploration and development company Empire Metals has raised £3-million to advance exploration at its Pitfield project, in Western Australia.
The net proceeds of the placing will be primarily used to allow Empire Metals to expand the planned Phase 1 reverse circulation drill programme, currently scheduled for later this year, following on from the 1 500 m diamond core programme which began on earlier this month. The objective of this drill programme is to not only confirm the scale of this giant, titanium-enriched mineral system, but to also understand the distribution of key factors better. These factors include grade, mineralogy, thickness and extent of mineralised beds and controls on high-grade titanium dioxide mineralisation.
France Dernières Nouvelles, France Actualités
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