Black Ridge Mining (ASX: BRD) is a mineral exploration company with a vanadium project in Western Australia. The company is also pursuing rare earths in Mongolia.
Black Ridge Mining (ASX: BRD) has been granted a trading halt by the ASX this morning as it prepares to release an announcement relating to a Heads of Agreement on a project opportunity, with the company placed in pre-open.
While the company did not reveal any further details of the pending announcement, Black Ridge Mining is currently focused on vanadium and since 2008 has been pursuing project opportunities in Western Australia.
In November last year, Black Ridge Mining announced a maiden Inferred Resource of 86 million tonnes at 0.42% vanadium for its Unaly Hill Vanadiferous Magnetite Project.
The project is showing mineralisation similar to Quest Minerals (ASX: QNL) Victory Bore deposit and remains open along strike and at depth.
The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Monday 5 March.