Arrow Minerals Ltd (ASX:AMD) has been granted a trading halt by the ASX with an announcement pending in regard to a proposed capital raising.
The halt will remain in place until the beginning of regular trade on Tuesday, May 4, or when an announcement is released to the market, whichever occurs earliest.
Unlocking the gold potential
The company has its sights set on unlocking the gold potential of the Boromo Belt in Burkina Faso and is ramping up exploration on its 1,500 square kilometre project.
Its primary focus is to on grow the known Dassa gold deposit and drilling is being carried out at several advanced targets while work is also intending to define multiple high-quality anomalies for drilling.
The objective is to define a critical mass of gold mineralisation in a small radius around highly prospective structural locations along the Boromo Belt.
“Aggressive program”
The bulk of the work is near Dassa, with concurrent regional definition along a newly acquired > 85-kilometre portion of the fertile Boromo Greenstone Belt, now accessible through a combination of 100%-owned permits and a recent binding term sheet to enter into a JV with Trevali Mining Corp (OTCMKTS:TREVF) (TSE:TV) (FRA:4TI).
Arrow managing director Howard Golden said: “Arrow is preparing to launch an aggressive program to unlock the immense potential of its position on the Boromo Greenstone Belt in Burkina Faso.”