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Emmerson Resources in trading halt ahead of capital raising announcement

The company recently intersected visible copper sulphides in diamond drilling at the Kiola project, where drilling was partly funded by the NSW Government’s New Frontiers Cooperative Drilling grant.

Emmerson Resources Ltd - Emmerson Resources in trading halt ahead of capital raising announcement
Emmerson has also reached a commercial agreement to recover the Kadungle tenement in NSW.

Emmerson Resources Ltd (ASX:ERM) is in a trading halt pending the release of a capital raising announcement.

The trading halt will remain in place until the beginning of regular ASX trading on Thursday, July 2, or when an announcement is released to the market, whichever occurs earliest.

Shares last traded at 10.5 cents and since the close on April 16 have risen from 6.5 cents.

Copper sulphides intersected

Emmerson recently intersected visible copper sulphides in all holes during the first stage of diamond drilling at Kiola project within the prolific Lachlan Fold Belt of NSW.

Four holes for 1,130 metres have just been completed at Kiola, which is one of Emmerson's five projects in NSW.

Emmerson managing director Rob Bills said: “The first phase of drilling at Kiola has been highly successful in providing new insights into the subsurface geology of the 15 square kilometres Kiola Geochemical Zone (KGZ).”

Assay results are expected in the second half of July which will inform an updated geological model and further refine the next drill campaign in the second half of 2020.

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Price: 0.1 AUD

ASX:ERM
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Market Cap: $46.01 m
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