The company recently completed drilling five holes at the Novo Astro Gold Project in Brazil.
() has been granted a trading halt by the ASX pending the release of information regarding a material 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 Wednesday 20 November 2019.
Before the halt, shares last traded at 5.6 cents.
Visible gold in recently drilled holes
The planned capital raising follows the recent intersection of visible gold in the first-ever drilling undertaken at the Novo Astro Gold Project in Brazil.
The hole was drilled at José Prospect within a zone of strong alteration and veining below the historic Garimpeiro pit.
It intersected a 56-metre-wide zone of variable shearing and sericite-pyrite alteration and results are expected by the end of the month.
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