Graynic announced new projects and placement today, read full...

Graynic announced new projects and placement today, read full ann for more detail.

GRAYNIC TO ACQUIRE NEW PROJECTS IN NSW AND RAISE $0.5M WORKING CAPITAL
• Acquisition of four base metal and tungsten projects in New South Wales.
• Yanco Glen Project contains identified tungsten resources with possibility of early
production. Further potential with shear-hosted gold mineralisation.
• Wertago Project contains historic Cu-Ag production with head grades up to 30%
Cu. Project has had little modern exploration and is adjacent to the same
regional structure as the Grasmere deposit (0.55mt @ 2.5% Cu) located about
30km to the southeast. Potential for a large polymetallic deposit in the area.
Previous gold exploration results included 12.2m @ 4.6 g/t Au not followed up.
• Gulf Creek also has limited modern exploration and comprises three Cu-Zn lodes
with some existing Cu-Zn resources. Historic copper production at high Cu
grades reported.
• Copper Ridge project comprises a zone of Cu potential 3.5km long in a sheeted
vein system. System is untested by modern exploration, no drilling in 125 years,
and contains historic copper mining.
• Placement of shares raises $500,000 working capital.