Great Boulder Resources Ltd (ASX:GBR) has been granted a trading halt by the ASX with an announcement pending in relation to a proposed capital raising.
The halt will be in place until the start of regular trading on Wednesday, February 24, or when an announcement is released to the market, whichever occurs earliest.
Survey highlights Arsenal Trend potential
Recently the company received initial results from a high-resolution gravity survey at its Whiteheads Gold Project that confirms the regional potential of the Arsenal Trend.
The survey confirmed a large low gravity feature striking south from outcropping granite in the north-eastern corner of the project, coincident with the position of the Arsenal Trend gold-in-soil anomaly.
This feature explains the broad, coherent gold anomalism found at surface along the Arsenal Trend as wherever mineralising fluid encounters a suitable setting to reduce fluid temperature such as a sudden pressure drop, or an increase in pH, the gold may precipitate.
The company believes this also explains the location of the Blue Poles prospect.