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.
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