Comet Resources Ltd (ASX:CRL) is in trading halt regarding project financing activities undertaken by the company.
The halt will remain in place until the beginning of trade on February 9 or when an announcement is made to market, whichever occurs earliest.
Santa Teresa geological mapping
Comet recently identified numerous mineralised structures at surface in a recent detailed geological mapping campaign of historic drill collars, shafts, and artisanal workings at the Santa Teresa Gold Project in Baja California, Mexico.
Consultants Minera Cascable conducted the mapping program and collected several samples during the survey process, which have been forwarded to ALS Chemex in Hermosillo, where they will be prepared for assaying at ALS Chemex in Vancouver.
Minera Cascabel also conducted a thorough review of the historical drill core from the 2008 diamond drilling program.
Around 27 samples have been cut from old core, which will also be sent to ALS Chemex for multi-spectrum analysis.
This will assist in determining the mineralogy of the gold deposit.