Phoenix Gold (ASX: PXG) has news on the horizon with the ASX granting the company a trading halt this morning pending drilling results from the company's Castle Hill Project.
Castle Hill hosts a resource of over 1 million gold ounces at less than 85 metres deep.
In total Phoenix has grown its gold resources to 2.24 million ounces from 595,000 ounces in less than two years.
Phoenix recently commenced a $20 million drilling campaign starting at Castle Hill, with the program to cover 215,000 metres over the next 15 months.
Phoenix has established a 4 million gold ounce interim resource goal.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Wednesday 5th December.
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