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PolarX enters trading halt ahead of capital raising

The company recently completed an investor roadshows in London, New York and Toronto.
paperwork reading 'raising capital'
Shares in the company last traded at 12 cents

PolarX Ltd (ASX:PXX) has been granted a trading halt by the ASX pending the release of details regarding a capital raising.

The halt will remain the place until the earlier of the release of information regarding the capital raising or the commencement of trading on Wednesday 2 May 2018.

READ: PolarX advancing copper-gold assets in Alaska, maiden JORC resource at Zackly pending

PolarX is focused on the exploration of 35 kilometres of strike prospective for copper and gold within its Alaska Range Project in Alaska.

The project contains the Caribou Dome JORC resource measuring 2.8 million tonnes grading 3.1% copper.

Most recently, the company released a maiden JORC inferred resource for the Zackly copper-gold deposit within the project.

Zackly’s maiden resource comprises 3.4 million tonnes grading 1.2% copper plus 2.0 g/t gold and 14.0 g/t silver from the surface.

READ: PolarX Ltd releases maiden JORC inferred resource at Zackly, validating historical data

Both deposits are open in all directions and present significant additional upside potential for larger porphyry copper‐gold discoveries.

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