Proto Resources
Proto Resources & Investments receives strong investor demand in rights issue
Proto Resources & Investments (ASX: PRW) has closed its one share for three at 3 cents entitlement issue.
A total of 82% of shareholders took up their Entitlement. An endeavour will be made to place the shortfall of 5,586,743 shares.
Following the strong results received from the nickel sulphide drilling program at Lindeman’s Bore, Proto will follow-up with drilling of the Mt Vetters project in July.
Targeting potential nickel sulphide mineralisation to the south of the Black Swan/Silver Swan nickel mineralisations, the project is also considered prospective for gold mineralisation.
Proto will drill approximately three Reverse Circulation holes at Mt Vetters to a depth of 300m, following up geophysical work completed earlier this year.
An update on the Lindeman’s Bore project will be provided as further work is done on the core prior to assays. A final drilling report will be submitted after compilation.
Other Proto Resources news
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27/01/10 Proto Resources & Investments progresses exploration in Tasmania and Northern Territory
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12/08/09 Proto Resources & Investments completes three hole drilling program at Mt Vetters Project
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17/06/09 Proto Resources & Investments to drill at Mt Vetters, following success at Lindeman's Bore
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15/06/09 Proto Resources & Investments shares up 300% on drilling success in Northern Territory
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28/05/09 Proto Resources & Investments targeting Norilsk style mineralisation in Northern Territory
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