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Cygnus Gold (ASX:CY5) to raise $1.2M for exploration
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  • Torian Resources (TNR) has begun the week in a trading halt pending an upcoming capital raising
  • The company will remain in the halt until March 24, or when more details regarding the raise are revealed, whichever occurs first
  • On March 17, Torian revealed it had intersected up to 9.79g/t gold from the Mt Stirling Gold System in Western Australia
  • Reverse circulation and diamond drilling is underway at the project to test and define the depth and strike extent of the gold system
  • Torian is now waiting on results from additional holes at Mt Stirling and Mt Stirling Well, which will be included in the upcoming JORC resource upgrade
  • Shares in Torian last traded at 5.8 cents on March 19

Torian Resources (TNR) has begun the week in a trading halt pending an upcoming capital raising.

The company will remain in the halt until March 24, or when more details regarding the raise are revealed, whichever occurs first.

Torian is yet to disclose how much it intends to raise or what it will do with the funds once they have been received.

On March 17, Torian revealed it had intersected up to 9.79g/t gold from the Mt Stirling Gold System in Western Australia.

Reverse circulation and diamond drilling is underway at the project to test and define the depth and strike extent of the gold system.

The company also received results from the Mt Stirling Main Zone, where up to 5.65g/t gold was intersected.

All the results returned confirmed the strike extensions to the northwest of Mt Stirling with the total strike measuring over 760 metres.

Torian is now waiting on results from additional holes at Mt Stirling and Mt Stirling Well, which will be included into the upcoming JORC resource upgrade.

Phase two drilling is set to begin soon to test the link between the Mt Stirling and Mt Stirling Well gold systems.

Shares in Torian last traded at 5.8 cents on March 19. The company has a $45.52 million market cap.

TNR by the numbers
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