Core Exploration (ASX: CXO) will launch a capital raising and has placed its share into an ASX trading halt.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Monday, 3rd June 2013.
Core had recently intersected thick uranium intersections of 60 metres at 482ppm U3O8, 75 metres at 268ppm U3O8 and 21 metres at 384ppm U3O8 from drilling at its fully-owned Fitton Project in South Australia.
It has also found new copper mineralisation at its recently recognised Paradise Well prospect in the Northern Territory.
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