The trading halt will extend until the beginning of trade on Tuesday, October 15, or when an announcement is made to the market, whichever occurs earliest.
Securities last traded at 6.4 cents, up from 5.2 cents earlier this month.
New diamond hole drilling program
The company announced last week that it would begin diamond drilling at its Novo Astro Gold Project in Mato Grosso, Brazil, with the GEOSOL diamond drill rig and crew having arrived on-site.
The 2,500-metre program will focus on four primary targets selected based on geological mapping, artisanal workings, soil geochemistry and grab sampling.
Further planned work as part of this program includes geophysics programs incorporating magnetotellurics, either a ground-magnetic or drone-magnetic survey as well as further investigation of downhole electromagnetics.