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Terramin Australia readies to divulge exploration results

Last updated: 15:20 03 Feb 2014 AEDT, First published: 14:20 03 Feb 2014 AEDT

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Terramin Australia's (ASX: TZN) shares are in pre-open today following the Australian Stock Exchange granting the company a trading halt, pending exploration results.

Terramin is well-funded with mover $5 million cash as at mid-January 2014.

Terramin is in a joint venture with Musgrave Minerals (ASX: MGV) at the Spare Rib target on the Menninnie Dam Project in the southern Gawler Craton, with Musgrave also being granted a halt today pending results.

Last week intercepts included: 20 metres at 2.0% lead from 67 metres in MDAC307; and 9 metres at 1.4% zinc from 88 metres in MDAC307.


Terramin and Bird-in-Hand

Recently Terramin completed the acquisition of the high grade Bird-in-Hand Gold project and regional tenements package.

The project is 30 kilometres north of Terramin’s existing mining and processing facilities at the Angas Zinc Mine.

Bird-in-Hand hosts 557,000 tonnes at 13.0g/t gold for 233,000 ounces.

The halt will remain in place until the opening of trade on Wednesday 5th February 2014, or earlier if an announcement is released to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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