Anson Resources Ltd (ASX:ASN) has been granted a back-to-back trading halt by the ASX with a capital raising announcement pending.
The halt will remain in place until the beginning of regular ASX trade on Friday, November 27, or when an announcement is released to the market, whichever occurs earliest.
Initial exploration finds targets
ASN’s initial ground-truthing program at the 100%-owned The Bull Project in Western Australia has confirmed the interpreted mafic-ultramafic intrusive complex, with copper values up to 1,845 parts per million (ppm).
This indicates that The Bull has a similar geological terrane as Chalice Gold Mines Limited’s (ASX:CHN) (OTCMKTS:CGMLF) (FRA:C8U) Julimar Nickel-Copper-Platinum Group Elements (PGE) discovery.
The three major targets identified measure up to 1400 metres in length and 800 metres wide.
Anson executive chairman and chief executive officer Bruce Richardson said: “We continue to be encouraged by the early indications we are receiving from The Bull Project.
“Chalice has provided the roadmap used to make the world-class Julimar discovery and we are following this closely."
The company is carrying out exploration at a number of Australian targets while its flagship Paradox Brine Project in the US progresses through development permitting.