Centaurus Metals (ASX:CTM) is raising $2.5 million for its explorations programs at the Serra Misteriosa Gold Project and the Salobo West Copper‐Gold Project, both in Brazil.
The 5‐for‐9 renounceable rights issue closed significantly oversubscribed.
Centaurus’ shares closed 33% higher on Wednesday, at $0.004.
The new funds will allow the company to continue the Serra gold exploration program and gear up for the maiden copper exploration program at the Salobo West Project.
The sheer scale and robustness of the soil anomaly, coupled with the consistent sub‐surface geophysical anomalies, makes Serra Misteriosa Gold Project a significant drill target.
The Serra Misteriosa project comprises a 2.5-kilometer long, +100 ppb gold‐in‐soil anomaly within a broader +5-kilometer long gold geochemical anomaly that is up to 500 metres wide.
The Salobo West project contains two tenements, with one of the areas located along strike from Vale’s (BVMF:VALE5) giant Salobo copper‐gold mine.
Centaurus is witnessing strong support from its shareholders as exploration gathers momentum across its recently expanded gold and copper portfolio in Brazil.