Australian Mines (ASX:AUZ) flagship Marymia project is located 55 kilometres and along strike of Sandfire Resources (ASX:SFR) DeGrussa mine, and 40 kilometres east of the 5 million ounce Plutonic Gold Mine.
AUZ is now heading to market with a capital raising.
The ASX has granted the company a trading halt, with its shares placed in pre-open.
At Marymia a strong 400 metre long EM conductor has been detected with potential for a massive sulphide body.
A maiden drill program of the conductor is commencing.
The projects geology is recognised as the northern continuation of the nickel-rich Eastern Goldfields province.
The halt will remain in place until the opening of trade on Wednesday 13th August 2014, or earlier if an announcement is made to the market.
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