(MENAFN- ProactiveInvestors - Australia) Apollo Minerals (ASX: AON) will soon reveal details of a capital raising with the company's shares placed in pre-open today.
Earlier today the company revealed the early success it is having at t its Acacia East Base Metals Prospect in South Australia.
Apollo has identified strong electromagnetic (EM) conductors indicative of massive sulphides at the prospect that forms part of its Titan Base-Precious Metals Project.
Early stage base metals exploration results of this calibre are rare and highly prized.
These EM conductor patterns are indicative of supergene-enrichment above a large-scale mineralised body, typical of high grade iron-oxide-copper-gold (IOCGU) targets.
Apollo is working to build the confidence required to drill this promising target as soon as possible.
The halt will last until the earlier of an announcement being made available to the market, or the opening of trade on Friday 22 February.
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