News: Mining Projects Group raising funds for nickel exploration

Mining Projects Group (ASX:MPJ) has been granted a trading halt by the ASX pending details of a capital raising.

The company has some highly prospective interests in Western Australia, and just last week identified a new thick nickel sulphide fertile lava channel at the Roe 1 prospect within its wholly-owned Roe Hills Project.

The nickel intersections and the geology have a very strong correlation to the discovery history of known deposits such as Cosmos, Prospero, Sinclair, Cerberus, Silver Swan and Camelwood Nickel deposits.

Diamond drilling assays had intersected elevated nickel, copper and PGR geochemistry and confirmed the new major lava channel.

This also increases the prospectivity of the entire 40 kilometre strike containing a new major discovery.

The halt will remain in place until the opening of trade on Monday 9th February 2015, or earlier if an announcement is made to the market.