Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Musk officially steps down from DOGE after wrapping...
HHS slams ‘under-tested’ mRNA technology as Trump cuts...
State Department says it will ‘aggressively’ revoke visas...
SEN. JEANNE SHAHEEN: If Trump wants a Ukraine...
Trump’s drastic NSC cuts spark debate: Does fighting...
GOP rails against ‘blatantly false’ Dem claims about...
SCOOP: GOP push for new House committee to...
Elon Musk criticism of Trump tax bill frustrates...
What’s next for DOGE after Elon Musk’s departure?...
Hamas faces ‘legitimacy crisis’ as desperate Gazans flock...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

$500,000 Raised for Uranium Exploration at Munaballya Well Target

by admin October 23, 2024
October 23, 2024
$500,000 Raised for Uranium Exploration at Munaballya Well Target

Augustus Minerals Limited (ASX: AUG; Augustus or the Company) is pleased to announce that it has raised $500,000 from professional and sophisticated investors (Placement).

Augustus Minerals has raised over $500,000 via a Placement.Proceeds from the capital raising will fund:On-ground exploration at the large Munaballya Well uranium target following up the recent VTEM Heli airborne geophysics program.An expanded soils/rock chip program to progress newly identified rock chip prospects to drill ready status and continue the exploration over as yet untested areas.Exploration works are continuing over various targets along the highly prospective Ti- Tree Shear with diamond drilling in progress at the Minne Springs Copper- Molybdenum porphyry prospect.

Under the placement, AUG will issue 10,000,000 fully paid ordinary shares (Shares) at an issue price of $0.05 per Share.

Funds raised through the Placement will be used primarily for the following:

On-ground exploration at the large Munaballya Well uranium target following up the recent VTEM Heli airborne geophysics program (final interpretation imminent).An expanded soils/rock chip program to progress newly identified rock chip prospects to drill ready status and continue the exploration over as yet untested areas.Heritage survey over newly defined areas once progressed to drilling status,Working capital and costs of the Placement.

The Munaballya Well (GSWA listed uranium occurrence) main basin U anomaly covers 4km x 0.7km area, with uranium concentrated in weathered dolomitic marls of Carnarvon Basin sediments. Figure 1 shows the area of the main uranium channel anomaly from an open file ground radiometric survey conducted by Thundelarra Uranium, as carnotite is concentrated in top 5-10m of weathered dolomitic layers.

VTEM survey is testing for near surface weathering of surficial zones as well as investigating the potential for deeper Unconformity Style mineralisation along the contact between the basement granites and metamorphics and the Carnarvon Basin sediments.

The Placement Shares will be issued utilising the Company’s existing Listing Rule 7.1 capacity.

Click here for the full ASX Release

This post appeared first on investingnews.com

previous post
11 Lithium Stocks Betting on Direct Lithium Extraction (Updated 2024)
next post
Adisyn Ltd (ASX: AI1) – Reinstatement to Quotation

You may also like

Anglo American to Sell Steelmaking Coal Portfolio to...

November 27, 2024

Anteros Secures Knob Lake Property Mineral Tenure to...

February 5, 2025

Sarama Resources Submits Request for Arbitration Against Burkina...

December 11, 2024

Strategic Alliance with Macmahon to Accelerate Redevelopment of...

January 23, 2025

Grid Announces Appointment of New Director and Re-Engages...

August 9, 2024

Lynette Zang: A Battle Royale is Coming, Sound...

February 6, 2025

Cygnus increases highly prospective, under-explored ground position by...

January 9, 2025

Troy Minerals Completes Field Program at Table Mountain...

October 28, 2024

Lithium Universe Limited (ASX: LU7) – Trading Halt

October 25, 2024

5 Top Canadian Oil and Gas Dividend Stocks...

January 22, 2025

Recent Posts

  • Musk officially steps down from DOGE after wrapping work streamlining government
  • HHS slams ‘under-tested’ mRNA technology as Trump cuts Moderna’s vaccine funding
  • State Department says it will ‘aggressively’ revoke visas for Chinese students
  • SEN. JEANNE SHAHEEN: If Trump wants a Ukraine deal, he should reread his own book
  • Trump’s drastic NSC cuts spark debate: Does fighting the ‘Deep State’ put national security at risk?

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (747)
    • Investing (2,201)
    • Politics (2,719)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.