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Bardoc Gold in trading halt ahead of ‘significant’ capital raising

The latest drilling results received on June 25 reinforce the quality, grade and continuity of the Aphrodite deposit as well as its potential to grow current ore reserves.

Bardoc Gold Ltd - Bardoc Gold in trading halt ahead of ‘significant’ capital raising
A DFS is expected to be released in the first quarter of 2021

Bardoc Gold Ltd (ASX:BDC) has been granted a trading halt by the ASX ahead of what it describes as a "significant capital raising".

The trading halt will remain in place until the start of regular trading on Wednesday, July 8, or when an announcement is released to the market, whichever occurs earliest.

Shares last traded at 9 cents and have doubled from the close on March 24 on the back of strong newsflow.

High-grade gold at Aphrodite

Bardoc Gold’s recent diamond core drilling at the Aphrodite deposit of its Bardoc Gold Project north of Kalgoorlie in WA intersected further broad zones of gold mineralisation outside the current ore reserves.

Aphrodite has two main lodes, Phi Lode and Alpha Lode, with results from a two-hole diamond drill program confirming high-grade extensions at the Alpha Lode.

Best results were 15.1 metres at 6.58 g/t from 418.1 metres including 5.3 metres at 15.86 g/t from 418.1 metres, and 6.7 metres at 3.01 g/t from 402 metres.

The Aphrodite deposit has total ore reserves of 500,000 ounces, comprising open pit reserves of 2.83 million tonnes at 2.3 g/t for 210,000 ounces and underground reserves of 2.38 million tonnes at 3.7 g/t for 290,000 ounces.

Quick facts: Bardoc Gold Ltd

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ASX:BDC
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Market Cap: $142.34 m
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