logo-loader
viewRenegade Exploration Ltd

Overland Resources attracts $2 mln to advance Yandal East Gold Project

The project is located 25 kilometres east of Northern Star’s Jundee gold mine.

Australian dollar notes
25,000 metres of drilling planned in Q2 2018

Overland Resources Limited (ASX:OVR) has received firm commitments to raise $2 million from a strongly supported share placement to institutional and sophisticated investors at $0.011 each.

The company is now well placed to explore the Yandal East Gold Project located 25 kilometres east of Northern Star’s (ASX:NST) Jundee gold mine.

Historical regional production in excess of 10 million ounces of gold

The Yandal East Gold Project is located 70 kilometres northeast of Wiluna within the Yandal Greenstone Belt in Western Australia.

Notably, the Yandal Greenstone Belt has produced in excess of 10 million ounces of gold.

Northern Star recently revealed an exploration budget of $45 million at the Jundee gold mine following multiple new gold discoveries.

Overland’s project is also located adjacent and along strike in both directions from the Millrose Deposit containing 309,000 ounces of gold at 2.4 g/t gold.

25,000 metres of drilling planned in Q2 2018

The company will use the new funds to continue exploration at the Yandal East Gold Project and for general working capital purposes.

Overland has completed target generation at the project and has lodged a program of work application last month.

The company is planning 25,000 metres of drilling in Q2 2018.

Yukon Base Metal Project, Canada

Earlier this month, Overland revealed a JORC 2012 resource of 12.6 million tonnes at 5.3% zinc and 0.9% lead at its Yukon Base Metal Project in Canada.

Quick facts: Renegade Exploration Ltd

Price: 0.005 AUD

ASX:RNX
Market: ASX
Market Cap: $3.56 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Renegade Exploration Ltd named herein, including the promotion by the Company of Renegade Exploration Ltd in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Renegade Exploration has drilled only 5/9 high priority targets, already...

Mark Wallace, non-executive director of Renegade Exploration Ltd (ASX:RNX), stops by Proactive Investors to discuss the completion of a 285-hole, 23,789-metre first pass aircore drilling program at the camp scale Yandal East Gold Project in Western Australia. Follow up drilling is already...

on 18/9/18

2 min read