Impact Minerals Ltd's (ASX:IPT) shares have been placed in a trading halt after the company requested this ahead of an announcement of a capital raising.
The halt is expected to last until Thursday, 14 April 2016.
A major ramp-up in exploration and development activity has commenced in March 2016 at its two flagship base and precious metals projects in New South Wales.
Dr Mike Jones, managing director said at the time:
“The major expansion of our ground position at Broken Hill is a robust opportunity for Impact and its shareholders to significantly increase exposure to this very richly mineralised part of Australia.
"Our recent work has suggested there is significant potential in the newly acquired licences to host the same two styles of high grade mineralisation that we have discovered in our original tenements.
"This includes very high grade PGM-nickel-copper such as at Red Hill and Platinum Springs as well as very high grade zinc-lead-silver or so called “Broken Hill-style mineralisation” at Dora East.
“Amazingly, given how close our new ground is to Broken Hill, these areas have mostly been very poorly explored."
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