Azure Minerals (ASX: AZS) is preparing a capital raising announcement, with the ASX granting the company a trading halt this morning - with its shares placed in pre-open.
Azure is focused on developing mining projects in the richly mineralised Sierra Madre Occidental mining province in northern Mexico, with key projects including the high grade Promontorio copper-gold-silver project, the El Tecolote copper-zinc project and the La Tortuga porphyry copper project.
Earlier in the month Azure updated drilling at La Tortuga, and said that drill hole testing of a porphyry copper target was completed at 926.25 metres, with widespread anomalous base metal grades returned, including: 0.38% copper, 2.54% zinc and 0.28% molybdenum.
The halt will last until the earlier of an announcement being made to the market, or the opening of trade on Friday 12th April 2013.