Errawarra Resources Ltd (ASX: ERW) has received firm commitments from new and existing sophisticated and professional investors to raise approximately A$4.25M, by way of a placement of shares through clients of CPS Capital Group Pty Ltd (CPS).
Funds raised under the placement will primarily be used for upcoming exploration programmes at the Andover West projects in the Pilbara and further exploration at the Errabiddy project. The West Pilbara region has been a focus of late due to exploration success by Azure Minerals Ltd, Raiden Resources Ltd and Greentech Metals. Errawarra’s tenement is in the same locality as these companies which could presents an opportunity for potential exploration success.
The Andover West project covers that more than 110km2 of tenure across highly prospective ground for a suite of mineral commodities. Recent aerial and ground surveys have assisted in the definition of pegmatites across the northwestern portion of the project and part of the central section that adjoins Raiden Resources Ltd. The company recently reported the assay results for 80 pegmatite samples taken from pegmatite outcrop identified on the company’s tenement. A small subset of the samples reported a geochemical affinity to LCT pegmatites.
To read more about Errawarra Resources, please visit www.errawarra.com
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