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White Cliff Minerals enters trading halt pending capital raising

The Aucu Project hosts 2.95 million tonnes grading 5.1 g/t gold for 484,000 ounces of gold.
asx sign through glass window
The company recently implemented savings of circa $500,000 per annum

White Cliff Minerals Ltd (ASX:WCN) has been granted a trading halt by the ASX this morning pending the release of information regarding a capital raising.

Shares in the company will remain halted until the earlier of, either the release of relevant information, or the commencement of trading on Monday 11 February 2019.

READ: White Cliff Minerals outlines plan to save $500,000 per annum

Last month, White Cliff identified visible gold in bulk samples collected in December 2018 from its Aucu Gold Project in the Kyrgyz Republic.

The company undertook a bulk sampling program along a 450-metre section of the Chanach river alluvial terraces located 1 kilometre downstream from the Aucu Gold deposit.

The objective of the sampling program was to assess the placer gold potential of the 16-kilometre long river system.

Visible gold was detected in 62 samples out of the 65 samples collected.

The samples collected have been submitted to the lab for analysis with results expected in late February.

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