92 Energy (ASX:92E) powers forward with capital raise plans

• 92 Energy (92E) powers forward with its plan to raise more capital by placing its shares in a trading halt
• The halt will allow the explorer time to plan and execute the proposed fundraise, with the halt to lift by September 28
• Before today’s trading halt, 92E had been focused on the exploration of the Gemini Project in the Athabasca Basin of Saskatchewan
• Recently received chemical assays from a drill hole sample highlighted a new zone of uranium mineralisation at the asset
• 92E shares last traded at 76.5 cents per share on September 23

92 Energy (92E) is powering forward with its plan to raise more capital by placing its shares in a trading halt.

The halt will allow the uranium explorer more time to plan and execute the proposed fundraise, with the halt to lift by Tuesday, September 28.

The company will announce full details of the raise on or before that date, including what the funds will be used on.

Before today’s trading halt, 92E had been focused on the exploration of the Gemini Project in the Athabasca Basin of Saskatchewan.

It recently received chemical assays from drill hole GEM-004 samples which highlighted a new zone of uranium mineralisation within Gemini.

Following the discovery, 92 Energy pledged to carry out further drilling to determine the extent of the mineralisation.

The company is still awaiting more results from the lab and plans to use the data to further optimise its drill targets.

92E is planning to carry out its next drill program during the Canadian winter, specifically during the months of January and March.

Shares in 92 Energy last traded at 76.5 cents each on Thursday, September 23.