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- Tao Commodities (TAO) has entered back-to-back trading halts to consider, plan, and execute a capital raising and acquisition of a project
- The company will remain in the halts until September 24 or when an announcement is made, whichever occurs first
- On August 17, Tao announced that it had completed soil and rock sampling at its Milford Project in Utah, U.S.
- More than 200 samples have been sent to the laboratory for analysis and results are expected in the upcoming weeks
- Shares in Tao last traded for 12 cents on September 17
Tao Commodities (TAO) has entered back-to-back trading halts to consider, plan, and execute a capital raising and acquisition of a project.
The company will remain in the halts until September 24 or when an announcement is made, whichever occurs first.
On August 17, Tao announced it had completed soil and rock sampling at its Milford Project in Utah, U.S.
The aim of this program was to extend the known mineralised trends identified in a phase one sampling program at the Moccasin and Captain Jack prospects earlier in the year.
Previous work has defined that results peak at 0.026ppm (parts per million) gold and 0.54ppm silver from Captain Jack, and 0.02ppm gold, 1.08ppm silver, 827ppm zinc and 550ppm lead from Moccasin.
Four rock samples and 197 soil samples have been sent to the laboratory for analysis and results are expected in the upcoming weeks.
Once results have been received and interpreted, further exploration may be undertaken.
Shares in Tao last traded for 12 cents on September 17.
