Funds raised to be used to support work at the Santa Teresa and Barraba Projects including expansion of exploration activities at the Barraba Project to include the historic Murchison Mine area
Highlights
Shares to be issued at 2c with a 1 for 2 option at 3c
Funds raised to be used to support work at the Santa Teresa and Barraba Projects including expansion of exploration activities at the Barraba Project to include the historic Murchison Mine area
Comet Resources Ltd (ASX:CRL) is pleased to announce it has received commitments for a placement of 50,000,000 new fully paid ordinary shares in Comet (Placement Shares) to eligible sophisticated and institutional investors at $0.02 per New Share (the Placement) with a 1 for 2 free attaching option exercisable at $0.03 and expiring 2 years from date of issue (Placement Options).
Comet has now received complete assay results from samples taken from the historical high grade Murchison Copper Mine site and the Gulf Creek North prospects.
Highlights:
Copper assay results up to 4.6%, zinc up to 4.0% and cobalt up to 0.7% from mine dump samples at the historic Murchison Mine site
Soil geochemical sampling and analysis confirms surface copper mineralisation around the Murchison Mine, with mineralisation open to the West and East
The above results have now confirmed that the Murchison Mine is a high priority drill target within the broader Barraba Copper Project
Further exploration works being planned to follow on from these encouraging results