Core Exploration (ASX: CXO) is preparing to announce share placement details, with the ASX granting the company a trading halt and placing its shares in pre-open.
Just last week Core revealed a high grade uranium in maiden drilling program on the 100% owned Fitton Project, in northern South Australia.
Results included:
– 14 metres at 1,047ppm U3O8 (0.1%), including 5 metres at 2,540ppm U3O8 (0.25%);
– 11 metres at 316ppm U3O8, including 1 metre at 1,465ppm U3O8 (0.15%); and
– 11 metres at 174ppm U3O8 and 0.1% copper, including 5 metres at 217ppm U3O8 and 0.18% copper.
The company is building a position in Australia’s newest IOCG copper exploration hotspot. Core’s Albarta Project now comprises a number of tenements over a large area in Australia’s new Aileron IOCG Province.
The halt will last until the earlier of an announcement being made to the market, or the open of trade on Monday 10th December.
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