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ACDC Metals Ltd ( (AU:ADC) ) has shared an announcement.
ACDC Metals has rapidly advanced work at its newly acquired Mount Jackson gold-silver project in Nevada’s Walker Lane Trend, completing an airborne geophysical survey and expanding its land position to a consolidated 164 BLM lode claims covering about 13.3 square kilometres. Processing of the new data, combined with existing geological and drilling information, is underway to define priority drill targets as the company moves to secure a rig and accelerate exploration.
To support this program, ACDC has completed a placement raising approximately A$870,000 after fees and plans a rights issue of up to A$1.516 million, bolstering its balance sheet for ongoing fieldwork. The enlarged footprint in a highly regarded mining district and fresh funding are intended to strengthen the company’s strategic position in Nevada’s precious metals sector and provide a pipeline of exploration results for shareholders amid a board change with a non-executive director resignation.
More about ACDC Metals Ltd
ACDC Metals Ltd is an ASX-listed exploration company focused on gold and silver projects, with a growing presence in Nevada’s Walker Lane Trend, a prolific U.S. mining jurisdiction. The company is building a portfolio of precious metals assets and is positioning itself to advance exploration through geophysics, drilling and targeted field programs funded through equity capital.
Average Trading Volume: 192,214
Technical Sentiment Signal: Buy
Current Market Cap: A$5.25M
For a thorough assessment of ADC stock, go to TipRanks’ Stock Analysis page.