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- Minerals explorer Alta Zinc (AZI) has entered a trading halt while it plans a capital raise
- Last week, Alta applied for two exploration licences in northern Italy
- They total 11,700 hectares and are said to contain high-grade copper mines that produced a large portion of Italy’s copper and manganese up to the 1970s
- Alta is now reviewing historical records which may support exploration work, but its main focus remains to be its Gorno Zinc Project
- The company will remain in a trading halt until Wednesday, March 24, unless details of the capital raise are announced earlier
- Alta Zinc last traded at 0.6 cents on March 18
Alta Zinc (AZI) has entered a trading halt while it plans a capital raise.
The company will remain in a trading halt until Wednesday, March 24, unless details of the capital raise are announced earlier.
Last week, the minerals explorer lodged applications for the Monte Bianco and Corchia exploration licences in Italy.
The Monte Bianco tenement covers 8200 hectares and is situated in the Liguria region. The Corchia tenement covers 3500 hectares and is located in the Emilia Romagna region of northern Italy.
The tenements are believed to contain multiple high-grade copper mines that produced a significant amount of Italy’s copper and manganese up until the 1970s.
“We are very excited by our application for these two new base metals projects that offer strong growth potential and to take advantage of the growing electric vehicle metal deficit in Europe,” Managing Director Geraint Harris said at the time.
The company is currently reviewing historical records from the tenements ahead of exploration work. However, Alta’s main focus for exploration expenditure is its Gorno Zinc Project, where drilling is continuing at the Pian Bracca and Ponente targets.
Alta Zinc last traded at 0.6 cents on March 18.
