Antares Mining (ASX:AWW), formerly Caravel Energy, is raising up...

Antares Mining (ASX:AWW), formerly Caravel Energy, is raising up to $650,000 to continue its investigation into exploration options for its Olympic Dam Licences in South Australia.

The company has signed CPS Capital Group to place on a best endeavours basis 130 million shares priced at $0.005 each.

This will be carried out in two tranches with the first tranche of 80 million shares under its 10% placement capacity while shareholder approval will be sought for the remaining 50 million shares.

Antares holds about 2,300 square kilometres of granted licences and has identified a number of drill targets.

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