News: Golden Cross Resources rising funds for copper-gold drilling, testwork

Golden Cross Resources (ASX:GCR) will carry out a Share Purchase Plan to fund additional drilling at its Copper Hill copper-gold project in central New South Wales.

Shareholders will be offered the opportunity to subscribe for up to $15,000 worth of shares priced at $0.06 each, a 15% discount to the five-day volume weighted average market price from Friday, 27 February 2015.

Drilling at Copper Hill is intended to increase resources. Funds will also be used on metallurgical testwork to optimise the metal recoveries in preparation for commencement of a Pre-feasibility Study.

Exploration activities will focus on defining targets at Copper Hill and undertaking value adding programs at key tenements, predominantly in New South Wales.

The extent of activities undertaken will be dependent on the level of funds raised through the SPP.

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