Alicanto Minerals announced it received binding commitments for a three million AUD placement with a minor discount to the last trading price. According to the company, the funds will be used for “Drilling to expand the known mineralisation at the Sala Zinc-silver-lead Project and costs of the offer and working capital”. In July, the company released its maiden resource estimate for Sala, amounting to 9.7 Mt @ 4.5% ZnEq, including a high-grade core from surface of 4.5Mt @ 6% ZnEq.
Plan view geology map over the Sala project, showing multiple step-out growth targets (Source: alicantominerals.com.au)
