Southern Crown Resources (ASX:SWR) recently dialled in to the a portfolio of multi-metallic projects by signing an option agreement, located 500 kilometres west of Anchorage in Alaska.
Adding to the prospectivity, the projects are located in the same Tintina Gold belt as the giant 45 million ounce Donlin Creek intrusion related gold deposit.
The option agreement is in line with the company’s strategy to evaluate new mineral resource opportunities both in Australia and overseas.
The key Luna-Quicksilver prospect contains two undrilled outcropping semi-massive sulphide stockworks about 1.2 kilometres apart in a system that is over 700 metres wide and striking over 5 kilometres.
Rock chip and channel sampling of Luna outcrop has returned up to 64.7 grams per tonne gold and 74g/t silver while the Luna East sulphide outcrop has returned up to 1.2% copper and 90gt silver.
Southern Crown is now heading to market with a capital raising.
The ASX Has granted the company a trading halt, with its shares placed in pre-open.
The halt will remain in place until the opening of trade on Thursday 28th August 2014, or earlier if an announcement is made to the market.
News: Southern Crown Resources to complete equity raising
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