TNT Mines In Back-to-back Trading Halt Ahead Of Capital Raising Announcement

TNT Mines Ltd (ASX:TIN) has a capital raising announcement pending and has been granted back-to-back trading halts by the ASX.

The halts will remain in place for four days until the beginning of trade on Friday, October 23, or when an announcement is released to the market, whichever occurs earliest.

Shares last traded at 22 cents and are up from 19 cents on October 13.

Drill program planning underway

In October the company received high-grade assay results from underground exploration channel sampling at the 100%-owned East Canyon Uranium-Vanadium Project in south-eastern Utah, the US.

High-grade results received from the sampling at None Such and Bonanza workings include 1-metre at 1.27% uranium and 4.53% vanadium and 0.6 metres at 0.69% uranium and 2.82% vanadium.

Previously the company observed visible uranium and vanadium mineralisation throughout both the None Such and Bonanza workings at East Canyon.

The Bonanza workings were discovered to be more extensive than first understood while being mapped.

Planning and permitting for an initial drill program is underway and this is expected to start this quarter following the receipt of all regulatory approvals.

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