STTCOMP AOU TA LONG
MC $20.34m
SOI 231M
SP $0.088
Sep 20 - oversubscribed placement $2.9M for upcoming multi drill programs & working capital.
“The funds will enable the company to continue its aggressive exploration programmes at our Saints and Leister Nickel Projects with the intention of upgrading the existing high-grade nickel sulphide Mineral Resource estimate of 1.05Mt @ 2.0% Ni for 21.4kt of contained nickel metal.”
Proceeds from the Placement will be used by Auroch to fund its aggressive exploration programmes, in particularly drilling, for further high-grade nickel sulphide mineralisation at the Saints and Leinster Nickel Projects, and for general working capital purposes. Current and upcoming drill programmes include:
- Firefly and North Sinclair Prospects – RC drilling – currently underway
- Saints Nickel Project – RC drilling at T1 – commencing next week
- Valdez Prospect – DHEM to identify conductors – commencing next week
- Horn Prospect RC and diamond drill programme to upgrade historic resource to JORC(2012) – commencing early October
- Saints Nickel Project – T4 & T6 air-core drill programme – commencing late October
- Saints Nickel Project – infill resource drilling to upgrade existing high-grade Mineral Resource estimate of 1.05Mt @ 2.0% Ni & 0.2% Cu
