Anchor Resources Limited (ASX Code: AHR) is pleased to provide its December quarterly activities report. The highlights are as follows:
Exploration
* Resource update at Wild Cattle Creek antimony project (NSW)
* 880,000t at 2.0% Sb containing 17,500t of Sb metal (0.5% cutoff)
* Resource expansion drilling to commence February
* High grade rockchip results obtained from along strike reconnaissance
* High grade rockchips also at Greenvale East project (Qld)
Corporate
* Non-renounceable rights offer closed oversubscribed
* Over $1 million raised
* As at 31 December, Anchor held $1.34 million in cash and equivalents
Managing Director, Trevor Woolfe, commented that “We were delighted with the strong response to our recent 1 for 5 rights issue. Funds raised will be directed to drilling at the Wild Cattle Creek antimony project, which is set to re-commence in late February with a drill contractor now confirmed. Rockchip sampling has highlighted the potential for further antimony-gold-tungsten rich target zones to the east of the defined resource.”
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