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Australian Mines to raise capital after gold discovery

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Australian Mines (ASX:AUZ) earlier this week intersected high-grade gold at the Dixon prospect, which is part of the Doolgunna-Marymia Project.

Highlights include: 5 metres at 11.07g/t gold from 130 metres, including 1 metre at 29.11g/t gold; and 1 metre at 14.85g/t gold.

Dixon is in similar geological setting to two world-class deposits, being Sandfire Resources' (ASX:SFR) DeGrussa Copper Mine and Northern Star’s (ASX:NST) Plutonic Gold Mine.

Australian Mines is now heading to market with a capital raising.

The halt will remain in place until the opening of trade on Thursday 29th October 2015, or earlier if an announcement is made to the market.

 

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Quick facts: Australian Mines Ltd

Price: 0.0145 AUD

ASX:AUZ
Market: ASX
Market Cap: $57.44 m
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